HeadlinesGovt to enact tax reforms on fast pace
Mr Umar provided a challenging job to the TRIC, asking it to implement short-term recommendations within a month opposed to six-months as recommended by the TRC report
Oct 18, 2018
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Headlines
EconomyPIA incurring Rs2 billion monthly losses
According to the aviation secretary, the depreciation of the rupee and rise in fuel prices were the two major factors for PIA’s losses
Oct 18, 2018
EconomyPakistan’s oil imports may touch $20 billion in FY19 if current prices prevail
Shell CEO said if the oil pipeline infrastructure was overhauled in Pakistan, it would contribute to a windfall of $50 to $100 million which would be passed on to consumers
Oct 18, 2018
EconomyFederal cabinet given discretionary powers to approve supplementary budgets
Finance Ministry has published an office memorandum to every ministry and division instructing them to seek go-ahead of the cabinet in all cases of technical supplementary and supplementary grants
Oct 18, 2018
EconomyRs182 billion additional tax set to be levied
Additional customs duty on approximately 6,000 items is expected to be raised from 2% to 3% via the tax regulators recommended SRO, which will raise an additional revenue of over Rs50 billion for the FBR, sources said
Oct 16, 2018
HeadlinesPakistan & Russia reach consensus to augment validity of North-South gas pipeline
The North-South gas pipeline is to be built on the build, operate and transfer (BOT) basis and Pakistan will get control of it after 25 years
Oct 16, 2018
EconomyGovt to review LNG terminal agreements
The ECC instructed the Petroleum Division to ask for the legal opinion of Law and Justice Division regarding the LNG terminal agreements and know if the government had any recourse to revisit the terms and conditions
Oct 16, 2018
EconomyFBR sends notices to 340 potential tax evaders
A big percentage of the identified high net worth individuals belong to areas that don’t fall under the purview of the federal government’s tax jurisdictions
Oct 16, 2018
EconomyJapan wants to hold government-level dialogue for enhancing trade in December
The volume of bilateral trade between both countries stands around $2.3 billion with Pakistan exports standing at a paltry $250 million against Japan’s $2.03 billion
Oct 16, 2018
EconomyAsad Umar assures brokers their proposals will be given due consideration
The brokers requested the government to scrap 0.01 percent of advance tax on the purchase of shares in consideration of the commission earned by its member
Oct 16, 2018
HeadlinesGovt seeking amalgamation of two oil and gas regulators
The petroleum division has told Ogra to prepare a summary for the Council of Common Interests (CCI) requesting transfer of upstream oil and gas regulation to Ogra as a centralized regulator to take care of the whole oil and gas sector from exploration and production to its sale to consumers
Oct 15, 2018
EconomyPSM stakeholders request government to revive mill
The stakeholders said that the losses and liabilities had swelled to over Rs465 billion, alongside $2.5 billion foreign exchange loss per year to the national exchequer due to steel imports
Oct 15, 2018