Oil prices fall 1.5 percent on OPEC’s deal to raise output
Brent crude futures were at $74.22 per barrel at 0455 GMT, down 1.8 percent from their last close
Ittehad Chemicals ion exchange membrane plant commences operations
In December last year, Ittehad Chemicals Limited and Punjab Board of Investment and Trade had signed a memorandum of understanding (MoU) to establish a state-of-the-art facility, valued at $40 million
Power Cement to obtain €30m foreign loan for ongoing clinker expansion project
Power Cement announced it had completed the financing arrangements of Rs24.9 billion ($205 million) for the 2.5Mta expansion of its cement plant in the Nooriabad Industrial Area, Kalo Kohar District, Jamshoroo, Sindh
OCAC asks FBR to clear ambiguity regarding advanced tax on POL products
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
Tax amnesty scheme not likely to fetch more than $700 million: Report
Sources revealed the tax regulator has fetched $46 million tax against the declaration of overseas assets under tax amnesty scheme till June 23rd
Will outsourcing help solve Pakistan’s tax problem?
PML-N’s Miftah Ismail suggests the government can raise a lot more revenue if it outsources many of the FBR’s functions. But is it the panacea or would it create more problems than it solves?
At-Tahur’s road to IPO begins, book-building set to close on 26th June
At-Tahur is issuing 36.7 million shares with 75 percent for book building and remaining 25 percent for retail investors at a floor price of Rs20 per share
OPEC agrees modest hike in oil supply after Saudi and Iran compromise
The United States, China and India had urged oil producers to release more supply to prevent an oil deficit that could undermine global economic growth
FBR hopeful of retrieving $3-4 billion under tax amnesty scheme
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
SBP notifies revisions in manual for kerb market foreign exchange dealers
The central bank last month introduced identification requirements for all foreign currency buy and sell transactions equivalent to $500 or above on currency exchange companies and directed them to retain the copies of identification documents to comply with anti-money laundering rules
Pakistani’s sent an astounding $15.253 billion overseas in FY17: SC
The committee observed during FY17, a major amount of transfers were carried out from Pakistan via the illegal Hawala and Hundi mechanisms
FBR retrieves Rs970 million in pending tax amount from PIA
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
PSX arranges briefing on tax amnesty
KARACHI: The Pakistan Stock Exchange (PSX) Limited Friday arranged a briefing on tax amnesty for its TRE certificate holders and market participants.
The panellists on...
Chinese electric car manufacturers eye Pakistani market
KARACHI: The auto industry is transforming at unparalleled speeds and is converting technology from fossil-fuel based vehicles to electric motor engines to...
India, biggest buyer of US almonds, hits back with higher duties
NEW DELHI: India, the world’s biggest buyer of US almonds, raised import duties on the commodity by 20 per cent, a government order...