Finance Minister Muhammad Aurangzeb has announced that no complaints have been received regarding the opening of Letters of Credit (LCs), and no foreign company has been hindered from repatriating its profits. He emphasized that these factors indicate there is no pressure on the currency. Speaking during a briefing to the …
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The National Assembly’s Standing Committee on Information Technology (IT), chaired by Syed Aminul Haque, has summoned the Minister of Interior and the Chairman of the Pakistan Software Houses Association (P@SHA) to address concerns related to internet disruptions and damages. Minister of State for IT, Shaza Fatima, questioned the accuracy of …
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Federal Minister for Power, Awais Leghari, announced that the privatization of the electricity distribution system is in progress, and by 2025, the government will no longer manage the buying and selling of electricity. Addressing a press conference in Islamabad, the minister highlighted that electricity trading between consumers and companies at …
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The Senate Standing Committee on Finance has approved the Tax Laws (Amendment) Bill 2024. Under the new amendments, non-compliant tax filers will be prohibited from purchasing luxury vehicles, properties, and bungalows. They will also face restrictions on opening bank accounts and purchasing shares. Chairman of the Federal Board of Revenue …
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It is concerning for top officials in the Federal Board of Revenue (FBR) that the top 5% of earners in Pakistan have evaded taxes amounting to Rs1.6 trillion. Addressing a gathering, FBR Chairman Rashid Langrial highlighted that the government’s tax gap for the current fiscal year is projected at Rs …
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The Senate Standing Committee on Finance convened a meeting here on Tuesday and chaired by Senator Saleem Mandviwalla. Senator Shibli Faraz noted that the required members of the committee were not present to complete the quorum, suggesting the meeting be postponed. No members from Pakistan People’s Party (PPP), Pakistan Muslim …
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Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a meeting of the Economic Coordination Committee (ECC) of the Cabinet, said an official statement of the Ministry of Finance on Wednesday. The ECC deliberated on a detailed agenda and made the decisions on summaries submitted by the Cabinet Division. …
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The Oil and Gas Regulatory Authority (OGRA) has approved an increase in gas prices for the current fiscal year. According to OGRA’s decision, an 8.71% increase has been approved for consumers on the Sui Northern Gas Pipelines Limited (SNGPL) network, while a 25.78% increase has been approved for consumers of …
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ISLAMABAD: After getting hundreds of billions of rupees in subsidy from the government, to offset the impact of its high energy cost, K-Electric has once again sought the NEPRA nod for the transfer of its Rs 68.85 billion losses to the government or electricity consumers.In their written comments and during …
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Staff Report The Ministry of Law and Justice, in collaboration with the Federal Board of Revenue (FBR), successfully concluded a transformative three-day training program for customs prosecutors, says an official release. Held at the National Institute of Banking and Finance (NIBAF), the program aimed to enhance prosecutors’ professional capabilities, equipping …
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