Senate Committee discussed high electricity bills. Electricity bills include various taxes. Electricity demand has dropped by 8.5%. In a recent meeting of the Senate Standing Committee on Energy, presided over by Senator Mohsin Aziz, the Secretary of the Power Division disclosed the array of taxes incorporated in electricity bills. Federal Energy Minister Owais Laghari elaborated … Read more
KARACHI: The State Bank of Pakistan (SBP) on Thursday increased the key policy rate by 300 basis points to 20 per cent to fulfil another condition of the International Monetary Fund (IMF). At its meeting held on March 2, 2023, the Monetary Policy Committee (MPC) decided to increase the policy rate by 300 basis points … Read more
LAHORE: Lahore High Court (LHC) on Wednesday heard a petition against the collection of General Sales Tax (GST) in electricity bills. Justice Shujaat Ali Khan heard a petition by a citizen Nasir Salman against collecting GST through electricity bills. The court issued a notice to other respondents including the Federal Bureau of Revenue (FBR) and … Read more
RAWALPINDI: The Lahore High Court (LHC) has barred the collection of Rs 6,000 fixed monthly General Sales Tax (GST) in the electricity bills from lawyers. The LHC Rawalpindi bench heard the matter on the petition filed by Lahore High Court Rawalpindi Bar Association over the collection of sales tax from lawyer’s chambers. Justice Tariq Saleem … Read more
Pakistan has asked the IMF to change the size of the programme from $6 billion to $8 billion. An 11 percent sales tax on petroleum products will be implemented beginning July 1, 2022. Furthermore, a levy of Rs 50 per litre on petroleum goods has been decided. The talks between Pakistani authorities and IMF personnel … Read more
ISLAMABAD: The government has reduced the prices of petrol, high-speed diesel and kerosene by Rs1.50/litre and light-diesel oil by Rs1/litre for the next fortnight, according to a notification issued by the Finance Division on Tuesday. The new prices of petroleum products will be MS petrol, Rs118.30; HSD, 115.03; kerosene, 86.80; and LDO, Rs84.77. The new … Read more
After Amazon, Facebook has now created opportunities for Pakistanis running online businesses to flourish with its initiative. “I am happy to see that after Amazon, Facebook has recently launched Marketplace for Pakistan,” Adviser to the PM on Commerce Razak Dawood wrote on Twitter. “It will encourage small entrepreneurs to sell online; such opportunities during Covid-19 … Read more
KARACHI: More than 0.3 million offal and carcasses have been removed efficiently during the three days of Eidul Azha. “Thanks to KMC, locals will not have to bear the stench of the offal,” commented Faisal Sheikh lauding efforts of the authority and Sindh government for their timely action. He further said that there were no … Read more
KARACHI: The compressed natural gas (CNG) consumers have criticised the authorities for increasing the prices of the commodity before opening the CNG filling stations on Monday. The Sui Southern Gas Company (SSGC) said that the CNG filling stations that remained closed in Karachi since June 22 reopened on Monday at 8:00am. People had started moving … Read more
KARACHI: The tax authorities have accepted an error in the proposal for an increase in the turnover tax on flour mills and said that the same would be rectified through an amendment in the Finance Bill 2021. In a statement, the Federal Board of Revenue (FBR) clarified that the table prescribing tax rates for a … Read more
