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ISLAMABAD:  Public and private sectors of Pakistan should come forward and invest in optimum exploitation of mineral resources of the country, said Minister for Planning and Development Asad Umar. He chaired a meeting held to review the work done by Pakistan Mineral Development Corporation (PMDC) and other allied matters on...
KARACHI:  The State Bank of Pakistan (SBP) has announced that amendments have been made to the Income Tax Ordinance 2001 in an attempt to simplify the tax regime for the non-resident companies investing in debt instruments and government securities. “These amendments will deepen our capital markets, support availability of long-term...
KARACHI:  Pakistani exporters are hoping to gain a major share in the world’s textile market, amid an ongoing trade war between the US and China, as they gear up for the Heimtextil 2020. The world’s largest trade exhibition of home and contract textile Heimtextil 2020 will be held from January...
ISLAMABAD:  Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan undertook a daylong visit to Islamabad on Thursday and held wide-ranging talks with Prime Minister Imran Khan, focusing on bilateral, regional and international issues. UAE Crown Prince Mohamed bin Zayed, who is also deputy supreme commander of the UAE...
ISLAMABAD: The UAE-based Etisalat – that owns 26% stake in the Pakistan Telecommunication Company Limited (PTCL) – has offered $267 million to settle a decade-old dispute. The offer is one-third of the total outstanding dues amounting to $800 million. If the Pakistani government accepts the Etisalat offer, the total value of the...
ISLAMABAD: The federal government has directed the State Bank of Pakistan (SBP) to divest its entire shareholding in House Building Finance Company (HBFC), which will pave the way for the housing finance company’s privatisation, officials say. At present, the SBP has 90.31% shareholding in HBFC – a major state-owned housing finance...
ISLAMABAD: Record urea offtake — at 1.22 million tonnes — was witnessed in December 2019 compared to 0.38m tonnes in the previous month. Analysts say that higher fertiliser sales were due to delay in wheat sowing across the country and rumours of gas prices going up in January. “The anticipation of...
ISLAMABAD: The local producers of liquefied petroleum gas (LPG) on Wednesday opposed to fresh concessions to the importers claiming that it will result in flooding of local market with cheap imported fuel. The LPG Pricing Committee, which met under the chair of Secretary Petroleum Asad Hayauddin in the chair, noted...
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has revamped initial public offering (IPO) regime to make the IPO process simple, cost-effective and more efficient. The amendments to IPO Regulations 2017 have been made after thorough consultation with market participants with an objective to promote capital formation by facilitating...
ISLAMABAD: The Central Development Working Party (CDWP) on Wednesday approved eight projects worth Rs13 billion with the aims of improving livelihoods, transport and communications, urban resources and water management. The committee meeting, chaired by Deputy Chairman Planning Commission Mohammad Jehanzeb Khan, also recommended five projects worth Rs112.20bn to the Executive...

Opinion

month revenue payment targets

Missed Targets

The tax collection numbers from the last six months are in, and they make for a dismal reading. The government has missed all of...