Business

National Tax Council meets to harmonize taxes

The first meeting of the National Tax Council (NTC) was held on Wednesday to harmonize taxes and reduce cost of doing business in the country. Federal Minister for Finance and Revenue, Shaukat Tarin presided over the NTC meeting, according to press statement issued by the finance ministry. Speaking on the occasion, the finance minister stressed upon the need for greater...

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National Tax Council meets to harmonize taxes

The first meeting of the National Tax Council (NTC) was held on Wednesday to harmonize taxes and reduce cost of doing business in the country. Federal Minister for Finance and Revenue, Shaukat Tarin presided over the NTC meeting, according to press statement issued by the finance ministry. Speaking on the occasion, the finance minister stressed upon the need for greater...

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Govt prepares comprehensive roadmap for stability, growth & employment

The government in the wake of three years performance report has prepared a comprehensive roadmap for stability, growth and employment. It said, the government had taken immediate policy measures to correct macro-economic imbalances and to avert the crisis which it inherited from the past government. The measures include bilateral arrangements, multilateral program, IMF program, deferred oil payments, export industry incentives...

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Govt decides not to increase prices of petrol and High Speed Diesel for next fortnight

The government has decided not to increase the prices of petrol and High Speed Diesel for the next fortnight. According to a notification issued by the Finance Division, the price of Kerosene oil has been increased by 81 paisa and Light Diesel Oil 1.10 rupees.

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Tarin committed to manage national economy for achieving higher sustainable growth

Minister for Finance Shaukat Tarin has expressed the government's strong commitment to manage national economy in most efficient and effective manner to achieve higher sustainable and inclusive growth. The minister was addressing virtually on "Pakistan's Economy- Fragility & Smart Action Strategy" National Workshop Balochistan-7. He said that for achieving sustainable and inclusive growth, the government devised a comprehensive set of...

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Govt decides to maintain prices of petroleum products at level of May 17, 2021

The Prime Minister Imran Khan has decided to maintain the prices of petroleum products at level of May 17, 2021 to benefit the common man. According to a statement issued by the Ministry of Finance, the government has not increased the prices of the petroleum products since April 16, 2021 by adjusting sales tax and petroleum levy to avoid corresponding...

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Petroleum sector projects get Rs1,339.589 million in 11 months

The government has so far provided funds amounting to Rs1,339.589 million during the current fiscal year to execute petroleum sector projects under the Public Sector Development Programme (PSDP 2020-21). According to the official data as of May 21 that showed a slight readjustment in funds’ allocation and releases, an amount of Rs1,339.589 million had been authorized against the total allocation...

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Exports increase 16.57% to Rs3.359 trillion in 10 months; 116% in April

The exports from Pakistan in rupee term increased by 16.57 percent during the first ten months of the current fiscal year as compared to corresponding period of last year, Pakistan Bureau of Statistics (PBS) reported. The exports from the country during July-April (2020-21) were recorded at Rs3,359,862 million as against Rs2,882,285 million during the corresponding period of last year, showing...

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Bulls return as PSX gains 487 points, closes at 44,563 points

The KSE 100-index of the Pakistan Stock Exchange (PSX) turned around Tuesday and witnessed bullish trend, gaining 487.39 points, with positive change of 1.11 per cent, closing at 44,563.59 points against 44,076.20 points on the last working day. A total of 221,502,765 shares were traded during the day compared to the trade of 238,440,085 shares the previous day whereas the...

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PSX loses 186 points, closes at 44,076 points

The KSE 100-index of the Pakistan Stock Exchange (PSX) witnessed bearish trend on Monday, losing 186.15 points, with negative change of 0.42 per cent, closing at 44,076.20 points against 44,262.35 points on the last working day. A total of 238,440,085 shares were traded during the day compared to the trade of 293,746,179 shares the previous day whereas the price of...

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First-ever shipment from Pakistan under TIR leaves for Uzbekistan: Razak Dawood

Adviser to the Prime Minister for Commerce and Investment Abdul Razak Dawood Friday said Pakistan crosses milestone in trade world by sending first ever Transports Internationaux Routiers (TIR) consignment by Afghanistan to Uzbekistan. The adviser informed that a milestone has been achieved in Pakistan’s transit trade history as Pakistan Customs processed the first-ever, TIR consignment at Torkhum destined for Tashkent...

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Govt cuts petrol price by Rs1.79, diesel by Rs2.32 per litre

The Prime Minister has approved a reduction in petrol prices by 1.79 rupees and the price of diesel by 2.32 rupees, applicable from tomorrow. In a tweet today, Finance Minister Hammad Azhar said Kerosene has been reduced by 2.06 while the Light Diesel Oil has been reduced by 2.21. He said this follows the reduction in prices of 1.55 rupees...

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Govt announces Special Ramazan Relief Package of Rs7.80bn at Utility Stores

The Federal government has announced a Special Ramazan Relief Package of worth 7.80 billion rupees through 4000 outlets of the Utility Stores Corporation to facilitate the masses. In an interview with PTV, Managing Director Utility Stores Corporation Umer Lodhi said the Ramazan Package would be included sugar, wheat flour, pulses, dry dates, rice, tea, Oil, Ghee, Baisen, beverages and tetra...

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Country’s exports reached over $18b in last nine months: Razak

Adviser to Prime Minister for Commerce and Investment Abdul Razak Dawood has said the country's exports have reached over 18 billion dollars in the last nine months. In a tweet on Thursday, he said for the 9-month period of July-March of the current Financial Year, our exports increased by 7 percent as compared to the same period of previous year.

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SSGC replaces 315,290 faulty meters to bring down UFG ratio

The Sui Southern Gas Company (SSGC) has replaced around 315,290 faulty meters during the last fiscal year in a bid to bring down the ratio of Unaccounted for Gas (UFG), a key factor affecting its financial health and growth. Besides, the SSGC Measurement Department replaced and tested 1,244 industrial meters against the target of 1,560 meters. “Similarly, during 2019-20, around...

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Palm oil imports increase 34pc to $1.585 bln in 8 months

The palm oil imports into the country increased by 34.03 percent during the first eight months of the current fiscal year against the imports of the same period of last year. The palm oil imports during July-February (2020-21) were recorded at $1585.381 million against the imports of $1182.899 million during July-February (2019-20), showing increase of 34.03 percent, according to latest...

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Oil import bill shrinks by 20.90% to $5.64bn in 7 months

The country’s oil import bill witnessed reduction of 20.90 percent during the first seven months of the current fiscal year as compared to the corresponding period of last year. The oil imports during July-January (2020-21) were recorded at $5640.751 million against the imports of $7131.451 million during July-January (2019-20), showing decline of 20.90 percent, according to latest data by Pakistan...

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