FBR launch ‘Single Sales Tax Portal’ to ensure automation

Building further on its vision to facilitate taxpayers and ensure ease of doing business through automation, digitization, and minimization of human interaction with taxpayers, FBR is all set to launch Single Sales Tax Portal during November, 2021, said a press release issued here. This landmark initiative has been made possible after thorough discussions with the… Continue reading FBR launch ‘Single Sales Tax Portal’ to ensure automation

Secretary BOI encourage Investors to explore housing sector of Pakistan

ISLAMABAD, Nov 02 (APP): Federal Secretary Board of Investment (BOI), Fareena Mazhar on Tuesday encouraged Investors to explore housing sector of Pakistan, which offered tremendous ‘Tax-Based Rebates’. Eligible developers and builders would be exempted from withholding taxes on purchase of building materials, she said. The Board of investment, under the leadership of Secretary Board of… Continue reading Secretary BOI encourage Investors to explore housing sector of Pakistan

Pakistan expects $500 mln meat export earnings next year: Dr. Kausar

ISLAMABAD, Nov 02 (APP): Pakistan hopes to export meat and meat preparations worth $500 million by the end of the current fiscal year (FY22) after getting access to the Jordanian and Indonesian halal meat markets, officials said. The veterinary and animal health directorate of Jordan’s agriculture ministry allowed three Pakistani meat processing facilities to export… Continue reading Pakistan expects $500 mln meat export earnings next year: Dr. Kausar

Pak-Thailand FTA likely to be finalized by end of this year: Thailand’s Envoy

ISLAMABAD, Nov 2 (APP): The Ambassador of Thailand to Pakistan, Chakkrid Krachaiwong on Tuesday said the Free Trade Agreement (FTA) between Pakistan and Thailand is expected to be finalized by the end of this year. The process of dialogue between the two countries had been slowing down during the COVID- 19 pandemic period, he said.… Continue reading Pak-Thailand FTA likely to be finalized by end of this year: Thailand’s Envoy

Rupee gains 37 paisas against dollar

ISLAMABAD, Nov 1 (APP): The exchange rate of Pakistan rupee against US dollar strengthened by 37 paisas in the interbank trading on Monday to close at Rs 171.28 against the previous day’s closing of Rs 171.65. According to Forex Association of Pakistan, the buying and selling rates of dollar in open market were recorded at… Continue reading Rupee gains 37 paisas against dollar

CPI inflation remains in single digit at 9.1% in October

Islamabad, Nov 1 (APP): The Consumer Price Index (CPI), based on monthly inflation, remained in single digit by witnessing an increase of 9.19 percent during the month of October 2021 as compared to the corresponding month of the last year, Pakistan Bureau of Statistics (PBS) reported Friday. The Urban CPI was recorded an increase of… Continue reading CPI inflation remains in single digit at 9.1% in October

Tarin for exploiting opportunities from recovering global economy

ISLAMABAD, Nov 1 (APP): Advisor to Finance Minister on Finance and Revenue, Shaukat Tarin here on Monday highlighted the importance of taking full advantage of new opportunities emerging out of global economic recovery after it was hit hard by Covid-19 during last two years. The advisor was addressing the launching ceremony of Pakistan Single Window… Continue reading Tarin for exploiting opportunities from recovering global economy

Pakistan to get benefits from US$3 trillion ASEAN’s economy: Ambassador Phong

ISLAMABAD, Oct 31 (APP): Vietnam Ambassador to Pakistan, Nguyen Tien Phong on Sunday said that Pakistan has huge trade and investment opportunities in Association of South East Asian Nations (ASEAN’s) US$ 3 trillion economy for increasing the bilateral trade and economic ties. With ASEAN’s US$ 3 trillion economic power and a large market of 650… Continue reading Pakistan to get benefits from US$3 trillion ASEAN’s economy: Ambassador Phong

FBR collects revenues of Rs1841, surpasses collection target by Rs233bn

ISLAMABAD, Oct 30 (APP): The Federal Board of Revenue (FBR) has collected net revenue of Rs1,841 billion during July-October of current Financial Year (2021-22), exceeding the target of Rs1,608 billion by Rs233 billion. According to provisional figures released here Saturday, this represents a growth of about 36.6 percent over the collection of Rs1,347 billion during… Continue reading FBR collects revenues of Rs1841, surpasses collection target by Rs233bn

Petroleum prices to remain unchanged: Finance Ministry

ISLAMABAD, Oct 30 (APP): As per directions of the Prime Minister of Pakistan, the prices of various petroleum products will remain unchanged for next fortnight to provide relief to the masses, Finance Ministry said Saturday. In a statement issued here, the ministry said, If there would be any price differential then government would bear the… Continue reading Petroleum prices to remain unchanged: Finance Ministry

Pakistan’s exports performance improving: Zubair Motiwala

ISLAMABAD, Oct 30 (APP): Chairman Businessman Group (BMG) Zubair Motiwala Saturday said that Pakistan’s exports performance was good and our exporters were exporting up to $ 2 billion per month. He said that Covid-19 has affected the country’s economy but exports performance was good and even during tough time of Covid-19 exports were increasing day… Continue reading Pakistan’s exports performance improving: Zubair Motiwala

Tarin lauds FBR for exceeding tax collection target

ISLAMABAD, Oct 30 (APP): Adviser to Prime Minister on Finance and Revenue, Shaukat Tarin Saturday congratulated Federal Board of Revenue (FBR) and it chairman for exceeding monthly tax collection target. Tarin in a tweet said, the collection has exceeded its monthly targets for four consecutive months. “I would like to congratulate team #FBR and Chairman… Continue reading Tarin lauds FBR for exceeding tax collection target

Govt policies helped improve export diversification: Razak Dawood

LAHORE, Oct 30 (APP): Prime Minister’s Adviser on Commerce & Investment Abdul Razak Dawood said on Saturday that viable policies of the government had improved considerably country’s export diversification during the last three years, which is the only way to enhance export revenues. In a meeting with the business community here at the Lahore Chamber… Continue reading Govt policies helped improve export diversification: Razak Dawood

One day shutdown in Punjab ceases Rs84bn business activities

ISLAMABAD, Oct 30 (APP): In addition to other hardships to people, the business activities worth Rs85 would suffer directly if Punjab shuts for one day, Finance Ministry said here Saturday. People would suffer due to blocked farm to market access and farmers income would suffer while public would have to spend more due to shortage… Continue reading One day shutdown in Punjab ceases Rs84bn business activities

CCOE expresses satisfaction over reduced accumulation of circular debt

Sustainability in exports only recipe to cope with economic challenges: Asad Umar

ISLAMABAD, Oct 29 (APP): The Cabinet Committee on Energy (CCoE) reviewed on Friday the Circular Debt Report September 2021 submitted by the Power Division and appreciated the reduced accumulation of circular debt. The meeting of the CCOE was held under the Chairmanship of the Federal Minister for Planning, Development and Special Initiatives Asad Umar here.… Continue reading CCOE expresses satisfaction over reduced accumulation of circular debt

OGDCL posts Rs 33.630 bln profit in Q1 FY 2021-22

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ISLAMABAD, Oct 29 (APP):Oil and Gas Development Company Limited (OGDCL) on Friday announced the financial results for the first quarter of the current fiscal year ended on September 30, posting a profit of Rs 33.630 billion. “Net sales revenue clocked at Rs 71.530 billion translating to profit after tax of Rs 33.630 billion and earnings… Continue reading OGDCL posts Rs 33.630 bln profit in Q1 FY 2021-22

Gas companies directed to streamline supply to fertilizer industry

ISLAMABAD, Oct 29 (APP):Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin here on Friday expressed satisfaction over availability of Urea and directed the gas companies to streamline supply of gas to the fertilizer units for smooth production.Chairing a meeting on fertilizer at Finance Division, the minister also directed all the stakeholders to… Continue reading Gas companies directed to streamline supply to fertilizer industry

FBR extends warehousing period up to Nov 25

ISLAMABAD, Oct 29 (APP):Building further on its policy of ensuring ease of doing business, the federal government Friday provided relief to the business community by extending the warehousing period and waiving off the penal surcharge on overstayed goods, lying un-cleared in the Customs Bonded warehouses.Federal Board of Revenue through its notification issued here stated that… Continue reading FBR extends warehousing period up to Nov 25

50 pc of total services’ export in Pakistan remains unchecked

ISLAMABAD, Oct 29 (APP):The World Bank has said the Pakistan’s services sector’s relevance in exports is likely to be underestimated in the available data as approximately US$1.5 billion of exports (roughly 50% of total services exports) are not reported. “This is because some of the exporters are small freelancers who register their receipts as remittances… Continue reading 50 pc of total services’ export in Pakistan remains unchecked

Strengthening exports is critical for Pakistan’s sustained economic growth: World Bank

ISLAMABAD, Oct 28 (APP):Pakistan’s economy recovered in Fiscal Year 2021 due to the government’s effective lockdown strategy to contain the COVID-19, which was expected to gain upward trends in coming days, said a new World Bank report release on Wednesday. The October 2021 Pakistan Development Update: Reviving Exports shows that the country’s real GDP growth… Continue reading Strengthening exports is critical for Pakistan’s sustained economic growth: World Bank

Category: Business

Business news from Pakistan