Category: News

News, Taxation

Good news: NO ACTION AGAINST THE TRADERS TILL 30TH SEPTEMBER – FBR

Chairman Federal Board of Revenue Shabbar Zaidi held a meeting with all groups of traders of Pakistan on August 8, 2019 at FBR and discussed various issues about the traders. It has inter alia been agreed with consensus that no adverse action under the Income Tax Ordinance 2001 and Sales Tax Act, 1990 will be undertaken against the traders merely on the basis of information … Continue reading Good news: NO ACTION AGAINST THE TRADERS TILL 30TH SEPTEMBER – FBR

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Economy, News, SECP

SECP revokes licenses of 13 Non-Profit Companies

The Securities & Exchange Commission of Pakistan in its drive against non- compliant companies, has revoked during the quarter ended on June 30, 2019, licenses of thirteen (13) not for profit companies, issued in pursuance of section 42 of the Companies Act, 2017. The main reason for revocation of licenses of these companies is that they are non-compliant to the statutory requirements of the law … Continue reading SECP revokes licenses of 13 Non-Profit Companies

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Economy, News

Asian Development Bank and World Bank restore budgetary support after 2 years

The Asian Development Bank (ADB) on Wednesday approved a $500-million loan for budgetary support to Pakistan, restoring policy-based lending after keeping it suspended for over two years due to deterioration in macroeconomic conditions. The ADB board of directors approved the $500 million in budgetary support under the $800-million Trade and Competitiveness Support Programme. The loan approval was pegged with introduction of a new legislation and … Continue reading Asian Development Bank and World Bank restore budgetary support after 2 years

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News, PSX, Stocks and Analysis

AGP – Pharma

AGP Limited was incorporated as a public limited company in May 2014 under the repealed Companies Ordinance. The principal activities of the Company include import, marketing, export, dealership, distribution, wholesale and manufacturing of pharmaceutical products. The Company is subsidiary of OBS Pakistan and the Ultimate Parent Company is West End 16 Pte Limited – Singapore. AGP held its analyst briefing to discuss its recently announced … Continue reading AGP – Pharma

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News, Power

Rs0.9 per unit reduced in electricity tariff

The National Electric Power Regulatory Authority (Nepra) on Tuesday approved a reduction of Rs0.9 per unit in electricity tariff for all power distribution companies, except for K-Electric, on account of fuel cost adjustment for June 2019. The decision was taken by the regulator at a public hearing held to review a petition filed by the Central Power Purchasing Agency (CPPA) on behalf of the distribution … Continue reading Rs0.9 per unit reduced in electricity tariff

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Economy, News, Taxation

Billions collected via Amnesty Scheme

Documents reveal billions of rupees worth properties surfaced during last amnesty scheme A large number of people holding Benami properties and assets worth billions of rupees have benefited from the Pakistan Tehreek-e-Insaf (PTI) government’s tax amnesty scheme that ended on July 3, official documents reveal. The Federal Board of Revenue (FBR) has sought from all the subordinate departments detailed reports about people who availed the … Continue reading Billions collected via Amnesty Scheme

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News

Kashmir Bleeds UN Sleeps

Kashmir is under siege by 900,000 Indian soldiers, no person can be seen in the streets, the internet, cell phones, markets are shut, media is banned, a militarized curfew is in place, the UN is asleep, OIC is not interested, EU doesn’t care. Federal minister Fawad Chaudhry makes a compassionate appeal to the house as he highlighted the plight of the Pakistanis suffering from Indian … Continue reading Kashmir Bleeds UN Sleeps

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News, Taxation

Boutiques get FBR notice

FBR served notices to 228 shops. As part of its efforts to broaden the tax net, Federal Board of Revenue (FBR) has served notices to as many as 228 garment shops and boutiques on paying no tax despite “having booming business activity.” “This office has identified 228 garments shops/boutiques doing business activity only in the area of North Nazimabad, Karachi and they are not on … Continue reading Boutiques get FBR notice

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Economy, News

Pakistan’s 1st KIA Sportage Car

KIA-Lucky Motor held a press briefing to launch its first car Sportage in Pakistan. The CEO of the company explained that, concessions provided by the government in the Auto Policy 2016-21 were the basis for new entrants coming in Pakistan. The company acknowledged that it is not the best time for the auto industry due to rupee devaluation and higher financing cost, but remained optimistic … Continue reading Pakistan’s 1st KIA Sportage Car

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Sticky post
CPEC, Economy, News

Inflation might further go up but in the long term Pakistan is looking at growth- IMF

IMF resident representative Teresa Daban Sanchez in Islamabad outlined some restraints, deterring Pakistan to utilize $6 billion 39-months bailout Package. Referring to CPEC projects, she said it’s largely a commercial venture in power and infrastructure areas of Pakistan. She acknowledged the fact that CPEC helped Pakistan deal with severe power shortfall. She rebuffed the perception about Chinese Debt Trap and expressed that the debt sustainability … Continue reading Inflation might further go up but in the long term Pakistan is looking at growth- IMF

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