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Two urea consignments of some 100,000 metric tons, imported by the state-run grain trader as strategic reserves, have arrived at Karachi Port. Following the directives of the federal government, the Trading Corporation of Pakistan (TCP), in May this year, conducted an international urea import tender and finalized a deal...
KARACHI: The collection of withholding tax from registration of new motor cars posted 15.3 percent decline to Rs9.58 billion during fiscal year 2018/19 as compared with Rs11.31 billion in the preceding fiscal year. Sources in the Federal Board of Revenue (FBR) on Thursday said that decline in revenue collection was...
KARACHI: Domestic gold price hit a new record peak of Rs88,300 per tola and Rs75,703 per 10 grams, up by Rs950 and Rs815 as compared to rates prevailing on Aug 10. The All Sindh Saraf Jewellers Association (ASSJA) attributed the fresh hike in rates to increase in world gold price...
KARACHI: With banks parking their money in risk-free government securities in huge sums, private sector has found no space to borrow from financial institutions since the beginning of FY20. The State Bank of Pakistan’s latest data shows the government borrowed Rs1.367 trillion from July 1 to Aug 2 (33 days)...
ISLAMABAD: The government has directed all federal ministries and institutions and the governments of four provinces, Azad Kashmir and Gilgit-Baltistan to submit by Sept 1 the declarations of assets held and acquired by their employees during the fiscal year ending June 30, 2019. In separate office memorandums, the government has...
KARACHI: Kinnow growers have rejected the purchase price of Rs600 per 40 kilogrammes offered by fruit exporters and processing factories for the export season 2019-20. Kinnow orchard owners demanded that the authorities concerned address their grievances and announce reasonable prices for citrus purchase in light of the rising inflation, said FPCCI...
KARACHI:  Heavy rainfall across the country in the current monsoon season and a lack of storage capacity have caused a sharp drop in animal hide and skin prices on Eidul Azha for the first time in Pakistan’s history. As rains continue to lash different parts of Pakistan, the hide collectors have...
LAHORE:  The Punjab Food Department has approved the release of government wheat to flour mills and the process will start from today. The government’s wheat provision bears a subsidy of Rs412 per maund (40 kilograms) which would assist the flour mills to cut down their prices and give some relief...
ISLAMABAD:  The Federal Board of Revenue has set up a directorate general for export-oriented sectors after it withdrew the zero-rated facility to five major sectors — textile, leather, carpets, sports goods and surgical instruments and restored sales tax at the standard 17% on them. The new body will monitor these sectors...
LAHORE:  Hackers and cybercriminals are tricking people into sharing sensitive bank details by sending scam tax refund emails from accounts claiming to be operated by the Federal Board of Revenue (FBR). Sources said that the scam is being used to steal large amounts of money from the bank accounts of victims...

Opinion

development

Pakistan’s key development thinkers

Key Thinkers on Development is the title of a book just published by Routledge of London. It has been edited by David Simon. Out of...