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Author Archives: Qaisar Mansoor

377,766 tax returns received after due date: FBR

ISLAMABAD: Federal Board of Revenue (FBR) has received 377,766 tax returns for tax year 2020 after filing due date i.e. December 08, 2020. A statement issued by FBR on Saturday said that that the taxpayers’, who filed income tax returns till December 08, 2020 were 1.78 million. That number has further increased to 2.19 million with the addition of 377,766 ... Read More »

Petrol to sell at Rs103.69 for the rest of December, OGRA notifies

ISLAMABAD: Pakistan’s oil regulatory body has announced Tuesday an increase of Rs3 rupees in petrol, which will now sell at 103.69, in its bimonthly petroleum product pricing exercise. The prices set today will remain the same for at least 15-day period after which the committee will work out fuel pricing again. Prices of Hi-speed deisel, after Rs3 hike will now ... Read More »

Income tax & sales tax cases of businessmen being forwarded to FBR: NAB chairman Javed Iqbal

ISLAMABAD: Gwadar Chamber of Commerce President Mir Naveed Baloch called on Justice Javed Iqbal Chairman National Accountability Bureau (NAB) at NAB headquarters. During the meeting, Justice Javed Iqbal said that NAB has great respect for the business community which is playing a vital role in the economic development of the country. He said income tax and sales tax cases of ... Read More »

VIS Credit Rating Co. suspends IR issued by SNPCL

KARACHI: VIS Credit Rating Company has suspended the instrument ratings of single A assigned to the Privately Placed Term Finance Certificates of Sindh Nooriabad Power Company Limited and Sindh Nooriabad Power Company Phase-II (Pvt) Limited with immediate effect. The action has been taken due to non-availability of current information for ratings analysis. The ratings would be reassessed as and when ... Read More »

No date extension for sales tax payment, return filing: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Friday clarified that it has not granted any extension in filing sales tax / federal excise returns. In a statement the FBR said that no extension in payment/filing of Sales Tax & Federal Excise Returns is under consideration at FBR at the moment. “Any order in this regard appearing on social media is ... Read More »

DGTT Zahid Khokhar & several BS-21 bureaucrats promoted to BS-22

ISLAMABAD: Prime Minister Imran has approved promotion of several BS-21 officers into BS-22. Director-General Transit Trade (DGTT) Muhammad Zahid Khokhar is promoted to BS-22. According to sources, the Central Selection Board (CSB) meeting will be held on June 15, 2020 to consider the promotions of BS-18 officers into BS-19, and promotion of BS-19 officers into BS-20. Other officers promoted to ... Read More »

Punjab govt to reopen shopping malls, auto industry from Monday

LAHORE: Punjab Information Minister Fayyaz-ul-Hassan Chohan has said that as a part of lifting the lockdown in phases, the provincial government will reopen shopping malls and allow the automotive industry to resume operations from Monday. The minister’s statement came as Punjab recorded more than 14,000 cases of the coronavirus and more than 240 deaths. Chohan said that the overall situation ... Read More »

FBR extends date for payment, return filing up to May 12

ISLAMABAD: Federal Board of Revenue (FBR) has extended the last date for filing monthly sales tax return and payment for March 2020. In a notification issued on Friday, the FBR extended the date for payment of sales tax and federal excise duty for the month of March 2020 which was due on April 15, 2020 and extended up to May ... Read More »

SBP reserves fall by $59m

KARACHI: Foreign reserves held by the State Bank of Pakistan (SBP) decreased by $59 million to $12.27 billion during the week ending on May 08, 2020. According to the central bank’s weekly report, the total liquid foreign reserves held by the country stood at $ 18.744 billion on the corresponding date. The net reserves held by commercial banks stood at ... Read More »

28 Pakistani enterprises participate in cloud exhibition in China

BEIJING: As many as 28 Pakistani enterprises have been invited to participate in the Shandong Export Commodities (Pakistan) Cloud Exhibition launched in Jinan, China. The exhibition demonstrates a creative way of engaging international business in a lockdown period due to the Covid-19 pandemic. Enterprises involved in production of electro-mechanical, hardware, building materials, and epidemic prevention materials etc. have been invited ... Read More »

Govt to form customs border security force to curb smuggling

ISLAMABAD: The federal government gave approval to the formation of a customs border security force to curb smuggling and ensure transit safety of goods. According to sources, the government eased restrictions regarding the new hiring for the force. The customs department has approved new positions from grade 1 to 21. Sources told that the customs border security force personnel will ... Read More »

CNG price reduced by Rs9 per liter in Punjab, Islamabad

ISLAMABAD: All Pakistan Compressed Natural Gas Association (APCNGA) on Friday announced to decrease the commodity price by Rs9 per liter in Islamabad and Punjab. “New retail price will be at around Rs84.50 per liter,” APCNGA Central Chairman, Ghiyas Abdullah Paracha said. He said the price reduction decision had been taken in view of the prevailing situation in the country and ... Read More »

Policy being formalised to tap shale gas, oil potential

ISLAMABAD: The government is in the process of finalising a policy to exploit massive shale gas and oil reserves that were identified after a study completed in collaboration with the USAID some four years ago. “Shale gas policy is being prepared for onward submission and approval of the quarters concerned,” a senior official in the Petroleum Division told media on ... Read More »

PM Imran constitutes body to ease business registration

ISLAMABAD: Prime Minister Imran Khan on Tuesday approved the constitution of a steering committee on Pakistan Regulatory Modernisation Initiative (PRMI) to help devise a regulatory framework for simplifying the process of business registration. According to the details, the government said that the high-powered body will support the business community to start new ventures and attract investments by improving the ‘ease ... Read More »

OGRA notifies 22pc increase in gas price

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Friday notified a seven per cent increase in the price of liquefied petroleum gas (LPG) and allowed about 22pc rise in the prescribed rate of natural gas. In separate determinations under revised revenue requirements for the current year, Ogra has allowed an increase of Rs119.68 per unit to Sui Northern Gas ... Read More »

Govt approves amendments in Import Policy Order 2016

ISLAMABAD: Federal government has approved amendments in sub-section (I) of section 3 of the Import and Export (Control), Act, 1950 (XXXIX of 1950).     Read More »

YouTube issues list of most popular ads in Pakistan from January to June 2018

KARACHI: Google today released its YouTube Ads Leaderboard for Pakistan in the January-to-June time period. This list represents the top 10 ads and branded content people chose to watch on YouTube through a combination of popularity and promotion. According to an Ipsos research, YouTube is the number one online video streaming platform among millennials in Pakistan with it reaching 80 ... Read More »

Customs Preventive to auction NDP goods, vehicles tomorrow

KARACHI: Collectorate of Customs Preventive will hold auction of leftover lots of cargo and vehicles at State Warehouse on June 27 (tomorrow) at 10am. Around 20 non-duty paid vehicles will be presented for auction while 18 other non-duty paid goods will also be auctioned. All participants are advised to bring copy of their original CNIC for participation in the auction. Read More »

Govt taken legislative measures for economic empowerment of women: Marriyum Aurangzeb

ISLAMABAD: The Islamabad Chamber of Commerce and Industry organized a ceremony to mark the International Women’s Day. Ms. Marriyum Aurangzeb, Minister of State for Information Broadcasting, National History and Literary Heritage was the Chief Guest at the occasion. Foreign female diplomats, spouses of various diplomats, female students of local universities and many other women attended the event. Speaking as chief ... Read More »

Bashir Ansari elected as president, Kashif Rashid general secretary of MTBA

MULTAN: Multan Tax Bar Association elected as Bashir Ahmad Ansari President and Kashif Rasheed as General Secretary in tax bar association election for 2018-19. According to the details, Multan Tax Bar Association announced 23rd February as last date for submission of nomination paper in the annual elections. Candidate Bashir Ahmad Ansari and Kashif Rasheed submitted their nomination paper for president ... Read More »