Mon. Feb 24th, 2020

Corporate Sector

As an offer to settle an old dispute between the UAE-based Etisalat and the Pakistan Tele­com­munication Company Limited (PTCL); Pakistani Government has offered for deduction of about Rs. 9 billion ($60 million) from $800 million outstanding sale pro­ceeds of PTCL. Dr Abdul Hafeez Shaikh, Adviser to the Prime Min­ister on Finance... Read More
PTI government has taken its first initiative towards promotion of business sector in Pakistan. First National Tariff Policy (NTF) has been approved by the Federal Cabinet; main feature of the policy is to shift the tariff setting focus towards trade especially exports promotion from revenue ... Read More
Tax authorities; both Federal and provincial are planning to drill into the financials of elite private schools and hospitals; in anticipation of identifying the smartly concealed income by those. This in turn will help in increasing the tax revenues of government. Since both sectors are essential now days in lives of elite and even upper... Read More
PM Imran Khan assured top officials from FBR that the government believes to reform tax machinery while involving all the stakeholders; purpose of reforms would be to restore people’s confidence on tax system and also to increase potential revenue from all sectors. ... Read More
PIA monthly loss reduced from Rs. 3 billion per month to 1.5 billion per month; about 50% decrease under the supervision of CEO Air Marshal Arshad Mahmood Malik While speaking to an interactive session with the members of KCCI (Karachi Chamber of Commerce) the Chief Executive officer said ; “The reduction in operational losses ... Read More
As per expectation, first Quarterly review of performance of Pakistan, under the $6 billion Extended Fund Facility (EFF) of IMF, gone successful. Last weekend both sides reached a staff level agreement. The agreement was subject to IMF management approval & executive board of directors. Second disbursement of $450 million er... Read More
Government has prepared a comprehensive plan for nationwide tax assessment & documentation for widening the tax net & checking tax evasion. The drive is to bring the wealthy people and the sectors with paying capacity that are still ... Read More
In a joint meeting of Senate and National assembly standing committees on finance and revenue with the mission of IMF; Government’s move for centralization of sales tax on services has been opposed by the parliamentarians for being against the constitution. They have also asked IMF for relaxation ... Read More