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PM seeks report from FBR about benami properties till September 30

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ISLAMABAD: Prime Minister Imran Khan on Friday directed all the deputy commissioners and heads of development authorities to identify benami properties in their respective areas and submit their reports within one month. In a letter issued from his office on Friday, the PM underlined the need for taking immediate and appropriate measures to identify the benami properties. He also directed ... Read More »

NAB will not pursue income, sales tax cases against businessmen: Javed Iqbal

NAB chairman Justice (retd) Javed Iqbal

  ISLAMABAD: National Accountability Bureau (NAB) Chairman Justice ® Javed Iqbal has announced that the anti-corruption watchdog will not pursue cases pertaining to income tax or sales tax against members of the business community, a press release issued on Friday said. The NAB chairman added that ongoing such cases against businessmen will be sent to the Federal Board of Revenue ... Read More »

DG Arslan Subuctageen holds seminar on “Protection of consumer rights through IPR”

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ISLAMABAD: Directorate-General Customs Intellectual Property Rights (IPR) (Enforcement) held a seminar on “Protection of consumer rights through IPR” today at Collectorate of Customs Conference Room. Federal Board of Revenue (FBR) Member Customs Dr Jawwad Uwais Agha was the chief guest of the seminar while officials from Islamabad, Peshawar, Gilgit-Baltistan, Sialkot and Multan also present on the occasion. The seminar was ... Read More »

Importers upset over collection of illegal demurrage, detention charges by Maersk, QICT: Mian Mahmood

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MULTAN: Importers are upset on collection of demurrage and detention collection through blackmailing by M/s Maersk Pakistan (Pvt) Ltd and Qasim International Container Terminal (QICT). National Accountability Bureau (NAB) and Federal Investigation Agency (FIA) should take strict action against M/s Maersk Pakistan and QICT for collecting illegal demurrage and detention charges to address complaints of importers. Collection of exorbitant demurrage ... Read More »

Better facilitation is a key to enhance exports of the country: Dawood

Abdul Razak Dawood, Adviser  to PM on Commerce, Textile, Industry & Production and Investment chairing a meeting with the Officials  of Trade Development Authority of Pakistan (TDAP) in  Karachi on 22nd  August 2019

ISLAMABAD: Adviser to Prime Minister on Commerce, Textile, Industry and Production Abdul Razak Dawood chaired a meeting for the reorganization of Trade Development Authority of Pakistan (TDAP) to enable better facilitation to the export sectors of Pakistan. According to the details, the meeting was held over focused on specialization of Division at the Authority which was attended by senior officers ... Read More »

Zong conducts successful 5G trials in Pakistan

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ISLAMABAD: China Mobile Pakistan (CMPak, popularly known as Zong) on Thursday successfully conducted 5G trials in Pakistan, a press release issued by the company said. By doing so, Zong has become “the first and only operator to officially test 5G services in the country”, the statement added. “This success marks an important milestone in Pakistan’s telecom sector,” said Zong CEO ... Read More »

Govt decides to strip NAB powers to probe private citizens

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ISLAMABAD: The government has decided to strip the National Accountability Bureau (NAB) of powers to investigate the affairs of persons other than holders of public offices by amending the National Accountability Ordinance (NAO), commonly known as the NAB law. Speaking at a press conference on Wednesday, the federal Minister for Law and Justice, Dr Farogh Nasim, explained the amendments being ... Read More »

Resource mobilization must to bring country out of economic malaise: FBR chairman

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ISLAMABAD: World Bank (WB) holds a day long workshop to mark the closing of Federal Board of Revenue’s five-year reform program titled ‘Multi-Donor Trust Fund for Accelerating Growth and Reforms’ (2015-19) (TAGR). According to the details, during the workshop Chairman FBR spoke about the significance of tax reforms and the commitment of the Federal Board of Revenue to implement crucial ... Read More »

‘QICT, Maersk tactfully delay consignments to demand extra demurrage, detention charges’

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PESHAWAR: The shipping company Maersk Pakistan Pvt Ltd and Qasim International Container Terminal (QICT) deliberately delay the clearance of goods to collect extra demurrage and detention charges and destroy domestic business. The importers in Peshawar condemned the brutal attitude of Maersk company and QICT for looting them by different tactics. Peshawar based importer Asif Khan, managing director Abdul Samad Group, said this ... Read More »

Assistance from WB vital for achieving developments goal: Hafeez Shaikh

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ISLAMABAD: Adviser to the Prime Minister on Finance & Revenue Dr. Abdul Hafeez Shaikh has said Pakistan is pursuing a growth-oriented programme for institutional reforms and economic revival and the technical and financial assistance from the World Bank is vital for achieving various development goals in different sectors of the Pakistan economy. He made this statement while talking to Mr. ... Read More »

Govt’s focus on reducing external imbalances bearing fruit: PM Imran

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ISLAMABAD: Prime Minister Imran Khan on Wednesday lauded his government’s efforts to improve Pakistan’s economy, saying their economic policies were beginning to bear fruit. The prime minister said this shortly after State Bank of Pakistan announced that Pakistan’s current account deficit had fallen by a massive 73 per cent to $579 million in July, the first month of this fiscal ... Read More »

Single Window most significant cross border trade facilitation initiative: Jawwad Owais Agha

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ISLAMABAD: Federal Board of Revenue (FBR) and US. Agency for International Development (USAID) through its Pakistan Regional Economic Integration Activity (PREIA), jointly organized a one-day Stakeholders’ workshop on Pakistan Single Window (PSW) for managing Pakistan’s external trade at a local hotel in Islamabad. According to the details, the objective of the workshop was to encourage stakeholders’ participation and collaboration in ... Read More »

Govt taking measures to boost exports: Razak Dawood

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ISLAMABAD: Commerce Adviser Abdul Razak Dawood said the government is focusing on boosting exports through tariff rationalisation to attract investment. Undertaking institutional reforms, documentation of economy and easing of doing business regulations was the priority of the incumbent government, he said while meeting with the delegation of the business community. Dawood said that “We are committed for introducing business reforms ... Read More »

FBR issues tax notices to owners of private schools, tuition centres

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ISLAMABAD: Regional tax offices have widened the scope of issuing tax notices to the owners of private schools and tuition centres over their failure to come into the tax roll and pay their due taxes despite having booming business in big cities. The notices have been issued to unregistered private schools and tuition centres by the dedicated zones of the ... Read More »

SEZs & EPZs will be operationalized to enhance foreign direct investment

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ISLAMABAD: A meeting of the economic team of the prime minister was held under the chairmanship of the Adviser to the Prime Minister on Finance & Revenue which was attended by the Minister for Planning Development and Reform, Minister for Economic Affairs Division, Adviser to the Prime Minister on Commerce, Industry & Production and Investment, chairman Federal Board of Revenue, ... Read More »

WCO imparts training to BS-17-18 officers of Pakistan Customs Service & PRAL

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ISLAMABAD: The WCO trainers provided training to BS-17-18 officers of Pakistan Customs Service and Pakistan Revenue Automation (Pvt) Limited about National Customs Enforcement Network System developed by WCO. The Directorate of Training & Research (Customs), Islamabad in collaboration with the World Customs Organization (WCO) organized a “Ten-Day Train-The-Trainers nCEN Training Workshop” for the officers BS-17 to BS-18 of Pakistan Customs ... Read More »

FBR to expand sales tax net to 400,000 people in three years: Member IR Hamid Ateeq Sarwar

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ISLAMABAD: The Federal Board of Revenue (FBR) has set a target to increase sales tax base up to 400,000 people in the next three years in order to boost revenue collection and ensure documentation of economy. “Around 250,000 people are registered with FBR’s sales tax net, but only 41,000 were paying the said tax,” said FBR Inland and Revenue (Policy) ... Read More »

Effective policies expand income tax-return filing base by 43pc

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ISLAMABAD: Owing to prudent, timely and swift tax reform policies of the incumbent government, the income return filing base has widened by around 43 percent to the record level of 2.5 million filers, as 750,000 new return tax-filers have registered themselves in the tax system till the last date, as indicated by official data. Economic experts are of the firm ... Read More »

CPEC Authority’ being set up for timely completion of projects: PM Imran

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ISLAMABAD: Prime Minister Imran Khan announced that the government was forming a ‘China-Pakistan Economic Corridor Authority (CPECA)’ to ensure timely completion of corridor’s projects. Presiding over a meeting at the Prime Minister Office, PM Khan said: “To ensure uninterrupted progress on CPEC projects, CPEC Authority is being formed.” He said the CEPCA would help ensure coordination among the departments concerned. ... Read More »

Govt must take action against Maersk, QICT for looting genuine importers: Advocate Saima Ayub

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MULTAN: Business community of South Punjab is facing serious block chain issues due to blackmailing of M/s Maersk Pakistan Pvt Ltd and Qasim International Container Terminal (QICT) for the clearance of legitimate import shipment due to collection of unfair demurrage and detention charges. Government must take special measures for protection of importers and economy of this import-dependent country by taking ... Read More »