KARACHI: More than 24 people lost their lives due to COVID-19 during the past 24 hours on Monday as the Sindh government lifted the weeklong lockdown. People returned to their routine activities and the city also witnessed a busy day. Heavy traffic and bumper to bumper jams were seen at all major points including Shahrah-e-Faisal, … Read more
KARACHI: The Federal Board of Revenue (FBR) on Monday issued a procedure for a prize scheme for customers who obtained invoices from retailers integrated with the tax authorities. According to the procedure for a prize scheme the provisions of application would apply to the customers of tier-1 retailers who have integrated their retail outlets with … Read more
KARACHI: The tax practitioners have demanded the Federal Board of Revenue (FBR) to notify simplified return forms for the Small and Medium Enterprises. In a letter to FBR chairman Asim Ahmad on Monday, the Karachi Tax Bar Association (KTBA) said the taxpayers of SMEs are facing difficulties due to unavailability of the registration feature and … Read more
KARACHI: The tax authorities on Monday issued a set of information that is required on the printed invoice issued through a Point of Sale (POS) machine to make it valid for tax purposes. The Federal Board of Revenue (FBR) issued an SRO 1006 (I)/2021, directing the big retailers to comply with the guidelines for making … Read more
KARACHI: The investment in premium prize bonds has surged 132 per cent to over Rs44 billion during the fiscal year 2020/21, according to the official data released on Monday. The investment in premium prize bonds with the denominations of Rs25,000 and Rs40,000 increased to Rs44.13 billion by the end of June 30, 2021, compared with … Read more
KARACHI: Banks have disbursed agriculture loans worth Rs1.36 trillion against the target of Rs1.5 trillion for the fiscal year 2020/21, the central bank reported on Monday. In a statement, the State Bank of Pakistan (SBP) said the credit disbursement to the agriculture sector increased to Rs1.366 trillion in FY21, witnessing a growth of 12 per … Read more
ISLAMABAD: Pakistan’s goods and services trade with Holland witnessed a growth of 107.62 per cent during the fiscal year 2020/21, compared with the corresponding period of the last year, the State Bank of Pakistan (SBP) reported. The overall exports to Holland were recorded at $1.118 billion during July-June 2020/21 against the exports of $982.263 million … Read more
KARACHI: Quarantine regulators from six different countries are scheduled to visit Pakistan in the near future to assess the fresh edible and meat export supply-chain, which could lead to increased exports of meat, rice, fruits and vegetables, an official said. The quarantine regulators from Mexico, the Philippines, Australia, China, Russia and Egypt are scheduled to … Read more
KARACHI: The rupee hit a 10-month low against the dollar on Monday, owing to the higher demand for external payments. The exchange rate closed at Rs163.90 against the greenback in the interbank foreign exchange market. Previously, it was seen at Rs163.84 on October 9, 2020. The local currency declined 45 paisas against the dollar to … Read more
KARACHI: The United Bank Limited (UBL) has posted an increase of 20 per cent to Rs7.6 billion in its net profit for the half-year ended June 30, 2021, a bourse filing said on Monday. According to the financial results announced by the bank, the profit-after-tax of the United Bank rose to Rs7.6 billion during January–June … Read more
Pakistan men’s test squad has arrived in Jamaica for the two-match test series against West Indies, starting from August 12. The squad arrived in Jamaica Guyana via Barbados. All the players will undergo COVID-19 tests upon arrival. In case the tests are negative, the Pakistan team will be allowed to train. Test results will be … Read more
KARACHI: Lucky Cement posted a profit-after-tax of Rs28.23 billion during the period ended June 30, 2021, a bourse filing said on Monday. On a consolidated basis, the Lucky Cement’s profit of Rs28.23 billion included Rs5.37 billion of the non-controlling interest for the year ended June 30, 2021. This translates into the earnings per share (EPS) … Read more
ISLAMABAD: The government has so far acquired 32,073 acres of land for the Diamer-Basha Dam project, which is expected to be completed by April 2029 and would meet the growing water and power needs of the country. The acquired land is around 90 per cent of the total required 35,924 acres of land for the … Read more
KARACHI: The K-Electric Limited will charge 7.5 per cent advance income tax on monthly electricity bills of over Rs25,000 from July 1 from the customers who are not on the active taxpayers list, the power utility tweeted. The K-Electric has asked the consumers to update their computerized national identity cards (CNICs) against their current account … Read more
BEIJING: The Pakistani exporters needed to establish good brands to attract Chinese customers and further enhance exports to China, a diplomat said. Expressing satisfaction over the tremendous increase in exports to China in the first-half of 2021, compared to the first six months of the last year, Commercial Counsellor of Pakistan Embassy in Beijing Badar … Read more
ISLAMABAD: Ambassador of Pakistan to Italy Jauhar Saleem has hinted towards starting negotiations on a labour and labour force import agreement with Italy for providing more opportunities to the local skilled youth to get employment in the competitive Italian job market. “The agreement is [the] need of the hour for the exchange of legal workforce … Read more
ISLAMABAD: The World Bank Group is preparing its new five-year support programme for Pakistan, the Country Partnership Framework (CPF) for 2022/26 with special focus on structural reforms, health, education, promoting climate-friendly future, inclusive growth, and good governance. During a weeklong visit of the World Bank Vice President for South Asia Hartwig Schafer to Pakistan, which … Read more
FAISALABAD: The campaign against corruption would continue, and now Prime Minister Imran Khan is focusing on Sindh, a government official said. Talking to newsmen at Gill House in Samundari, the residence of former MPA Mazhar Ali Gill, Special Assistant to Prime Minister for Political Communication Dr Shahbaz Gill said that after nailing down the corrupt … Read more
