Monitoring Report

Economy

Profit repatriations from power companies during July-May FY18 were recorded at $231.6 million against $164.3 million in the corresponding period of last year

Economy

According to estimates of M.A Mannan, CEO TCS Holdings, 40 to 45 percent of e-commerce sales were being conducted in rural areas

Headlines

Whilst the prices of high-speed diesel were deregulated, ambiguity remains over the aforementioned section, as OCAC believes advance tax also needs to be collected from distributors, which doesn’t conform to features of the budget announced for FY19

Economy

Sources revealed the tax regulator has fetched $46 million tax against the declaration of overseas assets under tax amnesty scheme till June 23rd

Economy

The Chairmen of Oil and Gas Regulatory Authority (Ogra), Federal Board of Revenue (FBR) and MD Pakistani State Oil (PSO) were instructed to provide reports about a fresh formula for the correct fixing of prices for POL products in a span of ten days

Economy

The FBR spokesman shared the response to the tax amnesty scheme had been overwhelming but said the last date of June 30th for declaring assets would not be extended

Economy

The dispute had raged on since an out-of-court settlement was reached in June last year between Ogra and Oil Companies Advisory Council (OCAC) over the licensing and fee structure conditions

Economy

Islamic Bank lending growth plunged 45 percent, touching Rs72.650 billion during the period under review compared to Rs132.07 billion in the corresponding period of last year

Economy

Tax officials shared PIA was a tax defaulter of Rs2.5 billion for two months under the category of federal excise duty (FED) collected from passengers on air tickets

Economy

Due to continuing depreciation of the rupee against the greenback in inter-bank and kerb market, the rise in steel prices was expected