Murad Ali Shah presents Sindh’s budget of Rs1.14 trillion
Sindh Chief Minister Murad Ali Shah on Wednesday presented the Sindh’s provincial budget for Q1FY1028-19 with a total outlay of Rs1.14 trillion.
German ambassador’s pictures on Twitter dismiss security concerns in Pakistan
Federal Republic of Germany Ambassador to Pakistan Martin Kobler said that when he first came to Lahore, instead of using a car, he took a train from the Rawalpindi Railway Station to reach the city costing him a mere Rs700. This, however, goes against the image of Pakistan that is portrayed abroad in an unfair manner, and does not reflect reality, the German ambassador added, stressing the need for politicians from both sides to work on improving the perception.
Senate presents 77 recommendations to NA over Budget 2018-19
The Senate on Wednesday recommended some 77 proposals to the National Assembly including the increase in petroleum development levy which may be restricted to an increase of 25 per cent over the existing rates, along with tax rates on individuals to be increased.
NA panel criticises government for not increasing cigarette prices
“It is unfortunate that recommendations were made by the committee and the state minister had assured to abolish the third tier on cigarettes – but it did not happen in the budget” PANAH Dr Wajid Ali said.
Market Daily: Indices feel the heat post budget, sheds 271pts
Having lost 680.33 points intraday to reach levels of 43,386.63, market bulls tried hard to stage a recovery after noon. Their efforts paid off to some extent and the index ended short of 271.96 points at 43,795.00.
SC tells govt to explain why sales tax is increased on petrol despite falling global prices
The Supreme Court observed on Wednesday that the government resorts to increasing the general sales tax (GST) on petroleum products by as much as 25 per cent even as crude oil prices slump in the international market.
Senate panel finalises proposals for Finance Bill-2018
Income Tax exemption up to Rs1.2 million annual income approved. Senate body rejects levy on petroleum, tobacco and mobile phone sets. Also rejects removal of third-tier slab on cigarettes.
Alibaba acquires 100 percent stake in Daraz
The financial details of the transaction were not revealed and Daraz would continue to operate under the same brand following the sale to Alibaba, said Rocket Internet.
PAMA urges Ministry of Finance to remove restriction for non-filers
The new initiative of restricting non-filers from purchasing motor vehicles to cause a reduction in the sale of 240,000 units
Pakistan’s Auditor General initiates special audit of MNCs in tobacco sector
Pakistan’s Auditor General has started a forensic audit of multi-national companies (MNCs) of tobacco sector and sought necessary record from MNCs to conclude the audit within 15 days in light of Public Accounts Committee’s (PAC) directions, it has been learnt.
Food ‘giant’ Gourmet set to launch TV channel
As per reports, earlier in 2016, the company bought the struggling Jaag TV, with an estimated investment of Rs1.5 billion, in a bid to break into the media industry
Dollar resurgence halting emerging market rate cut cycle
With the dollar on the rise, emerging currencies have weakened some 3 percent in the past two weeks, as measured by a JPMorgan index
New York’s Plaza Hotel going global, acquired for $600 million
Shahal Khan, founder of White City ventures has a lot of businesses in Pakistan
NLC to start assembly of Mercedes-Benz trucks in Pakistan
Daimler AG, owners of Mercedes Benz and The National Logistics Cell (NLC) have signed a memorandum of understanding (MoU) for the local assembly and production of Mercedes‐Benz trucks in Pakistan.
Cement industry capacity utilisation touches 95 per cent
According to data released by All Pakistan Cement Manufacturers Association (APCMA), the industry despatched 4.237 million tonnes of cement in April 2018 that was 17.46 per cent higher than the despatches of 3.576 million tonnes achieved during the corresponding month of last fiscal.