FBR: The Federal Board of Revenue’s Large Taxpayer Unit in Islamabad on Wednesday sealed the main business premises of cellular company Jazz. It was alleged that non-payment of Rs-25.393 billion income tax for the tax year 2018. Earlier in the day, a notice was issued to Principal Officers Pakistan Mobile Communication Limited (PMCL); Aamir Hafeez […]
The foreign exchange reserves held by the central bank rose 0.45% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On October 23, the foreign currency reserves held by the SBP were recorded at $12,121.5 million; up $55 million compared with $12,066.6 million in the previous week. […]
Pak Suzuki Motor Company’s loss contracted by a significant 88.2% to Rs136.4 million. In the quarter ended September 30, 2020, on the back of rupee recovery and decline in interest rate According to a notice sent by the company to the Pakistan Stock Exchange on Tuesday. The automaker had reported a loss of Rs1.16 billion […]
Pakistan has asked the International Monetary Fund (IMF) to relax the conditions for a mini-budget and increase in electricity prices at least till March next year after Prime Minister Khan again shot down both the proposals due to already high prices. About 10 days ago, the Ministry of Finance had sought the prime minister’s approval […]
The government of Japan has offered Pakistani youth to make use of their skills to benefit from the employment opportunities offered by different sectors of the Japanese economy. “Japan wants to give chance to the talented youth of Pakistan to get themselves connected with the modern and innovating Japanese industrial sector for enhancing their skills […]
ISLAMABAD: Sindh leads with a 45 percent share in the total income tax collected nationally by the FBR whereas Punjab follows with 35 percent, Khyber Pakhtunkhwa 3 percent, and Balochistan 2 percent. The federal capital beats KP and Balochistan in tax collection by contributing 15 percent of the total share, three times more than the […]
The per tola gold price witnessed an increase of Rs450 to Rs115,100 in the domestic market. Likewise, the rate of 10-gram gold also increased by Rs300 to Rs98,679, according to the All Pakistan Jewelers Association. Meanwhile, gold prices in the international market rose as the dollar slipped. Spot gold climbed 0.4% to $1,951.13 per ounce, […]
New Zealand is in its deepest recession in decades, following strict measures in response to the Covid-19 pandemic which were widely praised. The country’s GDP shrank by 12.2% between April and June as the lockdown and border closures hit. It is New Zealand’s first recession since the global financial crisis and its worst since 1987 […]
Microsoft has said that its offer to buy the US operations of hugely popular video-sharing app TikTok has been rejected, paving the way for Oracle to make a last-minute bid. US President Donald Trump gave a 15 September deadline for the Chinese-owned app to sell or shut down. The Trump administration claims TikTok and other […]
ISLAMABAD: Adviser to Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh has directed the Federal Board of Revenue (FBR) to clear all income tax refund claims of up to Rs50 million in the next couple of weeks while a clear road map and strategy may be adopted for the release of remaining refunds. […]
