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ISLAMABAD: After successful negotiation with the FBR chairman on Tuesday, Pakistan Flour Mills Association (PFMA) has called off its strike for Wednesday (today). “Our leadership held talks with the FBR team and decided to call off strike after getting assurances that there will be no tax burden on wheat, flour,...
KARACHI: In a tightly worded statement, the State Bank of Pakistan on Tuesday announced a hike of one percentage point in the key policy discount rate. The action, taken by the Monetary Policy Committee (MPC), brings the key rate, on which all other interest rates in the economy are...
ISLAMABAD: Terming the traders’ recent countrywide strike ‘politically motivated’, the federal cabinet on Tuesday resolved not to withdraw its decision on registration of traders to bring them under the tax net. Read: Traders observe nationwide strike to resist govt drive to document commercial activity The cabinet set up a committee to review...
ISLAMABAD:  The Securities and Exchange Commission of Pakistan (SECP) has asked the Federal Board of Revenue (FBR) to present a clarification of Section 37 of the Income Tax Ordinance (ITO) regarding the Sindh High Court (SHC) verdict pertaining to capital gains tax (CGT) on listed companies. Also Read: Rs2.8bn SECP budget approved The...
KARACHI:  The US government is deeply interested in expanding trade and investment ties with Pakistan, said US Consulate General Chief of the Economic Unit Chad Miner. Addressing a meeting at the Karachi Chamber of Commerce and Industry (KCCI) on Tuesday, Miner highlighted some irritants related to value addition and packaging criteria...
ISLAMABAD: It was September 2009 when Pakistan government and Tethyan Copper Company (TCC), a Canadian and Chilean joint venture, got locked in a row over the multibillion-dollar Reko Diq copper and gold mining project. It was the time when TCC got a certification of proven copper and gold reserves at the...
ISLAMABAD:  Prime Minister Imran Khan on Tuesday said the government was fully determined to extend all facilities to the investors and business community. He said the government was making efforts to change that mindset and thinking of the past in which the profit earning business activities were considered as negative and heavy taxes...
LAHORE:  Following an exorbitant increase in the duty and taxes on mobiles phones and cases of illegal registration by stealing international travellers’ data, the sales of new and used mobile devices have slumped in markets across Punjab. Traders at the biggest mobile phone market in Lahore, Hafeez Centre, told The Express...
ISLAMABAD:  Nearly 1,500 railway wagons are standing idle as these are not being utilised due to reluctance on the part of Pakistan State Oil (PSO) to boost supply of high-speed diesel (HSD) to upcountry depots. The state-run oil marketing company’s unwillingness stems from the fact that there are limited unloading facilities...
FAISALABAD: The wooden handicrafts business is dying rapidly due to surging prices of electricity and decreasing number of buyers of such products. Sillanwali in Sargodha is known across Pakistan for of its wooden handicrafts of assorted styles. Some people from the town are selling such handicrafts online and a few...

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A tale of two budgets

About a fortnight back the Indian Government announced its first post Elections 2019-20 Budget, and it will be interesting to see how it compares...