How Arif Naqvi’s fall from grace put Abraaj on brink of bankruptcy
Abraaj filed a petition in the Cayman Islands, requesting the court to appoint PwC as their provisional liquidator
Pakistan imported 10 million tons LNG in last three years
LNG imports have resulted in savings of $3 billion to the national exchequer
Budget deficit widens to Rs2.1 trillion during July-May FY18
The finance ministry officials quoting estimates said during April and May 2018, the budget deficit widened Rs617 billion or 1.8 percent of GDP
Mobile phone card tax suspension could cause Rs123 billion loss to national exchequer
Before the apex court decision, provinces were collecting around 19.5 percent tax on a prepaid phone card, so their revenue collection losses would touch Rs75 billion annually
Al-Futtaim procures land in Faisalabad to setup auto plant
It is a joint venture between Al-Futtaim Automotive International of Dubai and Renault who in November 2017 signed an exclusive agreement for assembly and distribution of Renault vehicles in Pakistan
Insafian vs Nooni: The choice before the voters
How the major national parties stack up on matters of economic policy
Energy: colliding visions for powering Pakistan
Both the PTI and PML-N offer competing proposals for how best to manage Pakistan’s electricity generation sector
Fixing a badly broken school system
Both parties agree that the school systems need fixing, and both are focused foremost on physical infrastructure
FBR for AEO programme to boost trade
In order to remove the hurdles in cross-border trade, Federal Board of Revenue (FBR) has decided to make rules regarding the Authorised Economic Operator (AEO) programme.
Pakistan’s trade deficit touches record high of $34b in July-May FY18
The total increase in imports during July-May FY18 was around 14 percent compared to corresponding last FY17
Oil industry gets its wish, petrol & diesel profit margins jacked up
The Federal Board of Revenue’s (FBR) inability to formulate a mechanism for general sales tax (GST) collection under a deregulated system, allowed the oil industry to get these margins revised in line with an old Consumer Price Index (CPI) based formula
Property tax collection plunged 20 percent in July-April FY18
Punjab’s property tax collection fell 31.62 percent, to touch Rs2.66 billion in first ten months of FY18, compared to Rs3.88 billion in the same period of FY17
Pakistan, Russia ink MoU to conduct feasibility study for undersea gas pipeline
The FO spokesman said both the countries had finalized several proposals in the energy sector which included laying of the North-South Gas Pipeline, LNG import from Russia, installation of air-mix plant and setting up a 600MW combined cycled power plant
Prices of petroleum products to remain unchanged
GST on petrol has been decreased to 7 percent from the previous 17 percent. The tax regular has also decreased the GST rate on kerosene from 12 percent to 7 percent
Pakistan contemplating to take Etisalat to international court over pending payment
The UAE-based company has withheld $800 million payment on grounds of properties not being transferred in its name and out of 3,300 properties, 33 of them cannot be transferred in the name of PTCL