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Business

Tax fraud in Pakistan can land you in jail for 5-10 years

29 Jun 2024

Tax fraud in Pakistan can land you in jail for 5-10 years

A dedicated investigation wing will be established within FBR.

Pakistan Railways announces ‘summer vacation’ train from July 5

28 Jun 2024

Pakistan Railways announces ‘summer vacation’ train from July 5

This initiative aims to offer citizens a swift and comfortable travel option during the summer break.

Rs12,500 tax to be imposed on economy class tickets from July 1

28 Jun 2024

Rs12,500 tax to be imposed on economy class tickets from July 1

The move is expected to impact travel industry and the economy at large.

NA treasury benches approve petroleum levy amendment bill

28 Jun 2024

NA treasury benches approve petroleum levy amendment bill

The government collected Rs960 billion from the petroleum levy.

Sindh mulls imposing tax on private schools, medical services

28 Jun 2024

Sindh mulls imposing tax on private schools, medical services

The Sindh Revenue Board will begin collecting the tax on July 1

Bad news for inflation-hit people as petrol price likely to hike by Rs7 per litre

27 Jun 2024

Bad news for inflation-hit people as petrol price likely to hike by Rs7 per litre

The prices of POL were slashed by Rs35 in the last four fortnight reviews.

Govt approves Rs2,128 billion defence budget

26 Jun 2024

Govt approves Rs2,128 billion defence budget

MNAs accepted demands from different ministries and divisions.

Bidding for PIA's privatisation to take place in first week of August

25 Jun 2024

Bidding for PIA's privatisation to take place in first week of August

The bidding process for PIA is scheduled to commence in the first week of August. Prime Minister Sharif emphasized the acceleration of the privatization process for PIA and underscored the importance of maintaining transparency throughout.

Petrol, diesel prices in Pakistan likely to go up from July 1

24 Jun 2024

Petrol, diesel prices in Pakistan likely to go up from July 1

In the newly proposed Finance Bill 2024, the government has introduced a substantial hike in the maximum petroleum levy, increasing it by Rs20 to reach Rs80 per litre.

Cash-strapped Pakistan imports smartphones worth $1.062 billion

24 Jun 2024

Cash-strapped Pakistan imports smartphones worth $1.062 billion

The import of cars saw a spike of 269 percent.

Despite inflated bills, Minister claims energy sector faces Rs600 bln annual loss

24 Jun 2024

Despite inflated bills, Minister claims energy sector faces Rs600 bln annual loss

Minister said federation has no charity money to give thieves.

GST to turn packaged milk costlier by Rs55 across Pakistan

23 Jun 2024

GST to turn packaged milk costlier by Rs55 across Pakistan

The increase in GST was proposed in the budget 2024-25.

Tax on medical equipment to decline treatment affordability among low-income

22 Jun 2024

Tax on medical equipment to decline treatment affordability among low-income

The budget of public hospitals will also increase.

Pakistan records 67% increase in exports to Afghanistan

21 Jun 2024

Pakistan records 67% increase in exports to Afghanistan

Pakistan imported items of $51.61 million from Afghanistan.

NEPRA proposes up to Rs1,000 fixed charges for domestic consumers

21 Jun 2024

NEPRA proposes up to Rs1,000 fixed charges for domestic consumers

The fixed charges will be effective from the new fiscal year.

Budget 2024: Senate body opposes proposed tax on electric vehicles

20 Jun 2024

Budget 2024: Senate body opposes proposed tax on electric vehicles

The committee decided to call Federal Minister Rana Tanveer Hussain to address the issue and explain the rationale behind the tax proposal.

Pakistan's leather industry records drop in hide prices

20 Jun 2024

Pakistan's leather industry records drop in hide prices

Over 680,000 animals were sacrificed across the country

Pakistanis sacrifice 6.8 million animals worth over Rs500 billion on Eid-ul-Adha

20 Jun 2024

Pakistanis sacrifice 6.8 million animals worth over Rs500 billion on Eid-ul-Adha

The sacrifice of animals during Eid-ul-Adha is a sacred tradition in Islam.

Finance minister asks masses to start paying taxes for Pakistan's progress

18 Jun 2024

Finance minister asks masses to start paying taxes for Pakistan's progress

The finance minister said that we will have to balance things out, the tax-to-GDP ratio is 9.5%, which is very low, the tax-to-GDP ratio should be 13%.

Senate body okays 75% withholding tax on non-filers' phone and internet connections

16 Jun 2024

Senate body okays 75% withholding tax on non-filers' phone and internet connections

Th body denied NADRA's access to Parliamentarians record for tax collection.

Over 6 million animals to be sacrificed on Eid-ul-Adha in Pakistan

15 Jun 2024

Over 6 million animals to be sacrificed on Eid-ul-Adha in Pakistan

10-15% decrease in sacrifices would be witnessed this year due to rising inflation.

Basic electric tariff likely to reach up to Rs72 per unit

15 Jun 2024

Basic electric tariff likely to reach up to Rs72 per unit

Average national base tariff, including for the K-Electric, would be Rs35.50 per unit

Budget 2024: Sindh to tax air tickets, properties, businesses

14 Jun 2024

Budget 2024: Sindh to tax air tickets, properties, businesses

According to the Finance Bill, the PPP-ruled province plans to impose a Rs250 tax on air tickets for domestic flights and a Rs1,000 tax on air tickets for international flights.

Pakistan govt slashes petrol price by Rs10.20 per litre

14 Jun 2024

Pakistan govt slashes petrol price by Rs10.20 per litre

The announcement was made from the PM House.

PM Sharif announces Rs10.69/unit cut in electricity tariff for industries

14 Jun 2024

PM Sharif announces Rs10.69/unit cut in electricity tariff for industries

This significant reduction in costs is expected to provide substantial relief to the industries.

Sindh govt announces 30% hike in government employees' salaries

14 Jun 2024

Sindh govt announces 30% hike in government employees' salaries

CM Murad announced 15% increase in pensions.

Pakistan to spend 55pc of fiscal year 2025 revenue on interest payments: Moody's

14 Jun 2024

Pakistan to spend 55pc of fiscal year 2025 revenue on interest payments: Moody's

Moody's attributed the increase in estimated revenue to an increase in taxes.

Milk price hiked by Rs20 in Karachi, new rate set at Rs220/litre

13 Jun 2024

Milk price hiked by Rs20 in Karachi, new rate set at Rs220/litre

As per the agreement, dairy farmers are required to sell milk at the official price, and any noncompliance will result in action being taken.

Punjab announces up to 25pc raise in salary in budget 2024-25

13 Jun 2024

Punjab announces up to 25pc raise in salary in budget 2024-25

Six billion rupees have been allocated for the laptop scheme.

Prepaid mobile cards: Pakistan govt proposes tax rate to whopping 75% for non-filers

13 Jun 2024

Prepaid mobile cards: Pakistan govt proposes tax rate to whopping 75% for non-filers

If implemented, these measures aim to strengthen Pakistan’s fiscal framework and boost revenue generation for national development initiatives.

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