Reliable research data helps better policy making
While giving a detailed presentation about tobacco survey, Mr Asad explained that the tobacco sector is also amongst the 80 product categories for which they conduct audits on daily basis and their research findings have highlighted that the 02 multinational cigarette manufacturers have 67% market share whereas the local cigarette manufacturers have 33% market share. ...
Tesco pays Rs3.4 billion tax to FBR
ISLAMABAD ? ? - ? Tribal Areas Electricity Supply Company (Tesco) paid an amount of Rs3.4 billion to Federal Board of Revenue (FBR) without collecting any tax from domestic and commercial consumers.
Online facility relieves taxpayers
ISLAMABAD ?? - ? The online facility for tax registration has reduced the number of complaints due to the minimum human involvement in the procedure and provided ease to the new fillers who were hesitating due to the procedures of tax registration system. an official of Federal Board of Revenue (FBR) told that the online tax payment system is ...
Punjab proposes Rs20b for health projects
LAHORE?? -??? The Punjab government has proposed Rs20 billion for projects in health sector in the forthcoming budget, out of which 40 percent would be spent in south Punjab, 21 percent in north Punjab and the remaining in other parts of the province. Minister Health Dr Yasmin Rashid, Chairman Planning and Development Board Habibur Rehman Gilani and officials different ...
Rupee devaluation detrimental for value added textile sector
Value Added Textile Export Association declared the current over 3.6% percent devaluation of rupees against dollar in 24 hours is extremely disastrous for the nation stating that such exorbitant devaluation will increase cost of doing business and also open floodgates of inflation for the masses. This statement jointly issued by Jawed Bilwani, Central Chairman, Pakistan Hosiery Manufacturers & Exporters ...
Crisis-hit Nissan shakes up board, keeps boss
Japanese car giant Nissan shook up its executive board Friday, adding a top director from partner Renault as it battles the fallout from the Carlos Ghosn saga and disappointing results. The firm will propose to shareholders a new board structure with 11 members, six of whom will be external, as Nissan attempts to improve corporate governance in the wake ...
US ‘not sincere’ about wanting more trade talks with China
US Treasury Secretary Steven Mnuchin said on Wednesday he will likely travel to Beijing soon to continue negotiations with Chinese counterparts ?The US side has been saying it wants to talk, and at the same time has kept up with its little tricks, damaging the atmosphere for talks,? it said. ?If the US side ignores the opinions of the Chinese ...
US terminates Turkey’s preferential trade agreement, reduces tariffs on steel
The United States on Thursday terminated Turkey?s preferential trade treatment that allowed some exports to enter the country duty free, but it has halved its tariffs on imports of Turkish steel to 25%. The White House said it was appropriate to terminate Turkey?s eligibility to participate in the Generalized System of Preferences (GSP) program, based on its level of ...
Oil steady as Middle East tensions mount, set for weekly gains
?When tensions are this high, with the US deploying a sizable military force, even a mistake or a tactical error by Iran could ignite the Middle East powder keg,? Stephen Innes, head of trading and market strategy at SPI Asset Management told Reuters by email.
SECP Measures For Capital Market Stability
ISLAMABAD, (UrduPoint / Pakistan Point News - 18th May, 2019 ) :The Chairman SECP Farrukh Sabzwari,along with his team met with capital stakeholders, including the senior management of , National Clearing of Limited, Central Depository of Limited, representatives of broker community, Mutual Funds Association of and insurance companies. The participants highlighted the practical ...
Pakistan Stock Exchange PSX Closing Rates 17 May 2019
387 Dewan Farooque Motors Limited[DEFAULTER SEGMENT] 5.25 Ghandhara Industries Ltd. 88.47 Ghandhara Nissan Ltd. 45.8 Ghani Automobile Industries Ltd. 3.3 Hino Pak Motor Limeted. 305.01 Honda Atlas Cars (Pak) Ltd. 118.57 Indus Motor Company Ltd.(XD) 1200.31 Millat Tractor Ltd.(XD) 838.28 Pak Suzuki Motors Co Ltd.(XD) 213.44 AUTOMOBILE PARTS & ACCESSORIES: Agriautos Industries Co. Ltd. 214.95 Atlas Battery Ltd. 65.19 Exide Pakistan Ltd. 121.58 General Tyre & Rubber Co. 33.42 Loads Limited. 356.61 CABLE & ELECTRICAL ...
Russia Economy Slows After VAT Hike
The economy ministry said in a statement that the slower growth was "expected and linked to the weakness of domestic demand coming on the back of a higher tax burden" after Russia raised VAT from 18 to 20 percent. Capital Economics research group called the growth figure "much weaker than anticipated" and said it was prompted by "broad-based" weakness ...
Pound Slides On Brexit Woes
- 'Fluid situation' - The US figures however helped sentiment somewhat after almost two weeks of volatility sparked by US President Donald Trump's threat, and implementation, of higher tariffs on Chinese imports. Trump's move threw a spanner in the works for high-level China-US talks that seemed to be close to conclusion and led to retaliation in kind from Beijing, ...
UK Industry Confederation Urges Gov't To End Brexit Impasse Over Fatal Effect On Business
"From the heart of business to the heart of politics, resolve this gridlock, do whatever it takes and do it fast," Fairbairn said, as quoted by The Guardian newspaper, adding that "every day without a deal is corrosive" for UK economy. Fairbairn stressed, citing CBI surveys, that investors' confidence in the UK business sector was currently at its lowest ...
Foreign Exchange (Forex) Closing Market Rates In Pakistan 17 May 2019
LOW RATE HIGH RATE U.S $ (Inter Bank) 147.75 148.25 U.S $ (Cash Free Market) 148.50 149.50 SAUDIA RIYAL 39.50 40.00 UAE DIRHAM 40.25 40.75 EURO 165.50 168.80 UK POUND 188.00 191.00 JAPANI YEN 1.33613 1.35613 CHF 145.33 146.33 DKK 21.92 22.02 NOK 16.69 16.79 SEK 15. 15 15.25 AUD $ 102.75 105.75 CAD $ 109.20 111.70 SGD $ 106.53 107.53 HK $ 18.65 19.15 KWD 483.61 483.71 OMANI RIYAL 381.95 382.05 BH DINAR 388.97 389.47 INDIAN RUPEE ...
Around 18.68 Pc Surplus Witnessed In Trade With Bangladesh
The overall exports to Bangladesh were recorded at $510.812 million during July-February (2018-19) against exports of $448.870 million during July-February (2017-18), showing positive growth of 13.79 percent in first eight month of current fiscal year, according to State Bank of Pakistan (SBP). The imports of hydrogen peroxide also increased by 143.25 percent, from $0.608 million to $1.479 million whereas ...
EU Delists Aruba, Barbados, Bermuda As Tax Havens
"The Council today decided to remove Aruba, Barbados and Bermuda from the EU list of non-cooperative tax jurisdictions," the statement read. Barbados has committed to changing its preferential tax regime, while Aruba and Bermuda have already made some progress. It includes 12 territories now - American Samoa, Belize, Dominica, Fiji, Guam, Marshall Islands, Oman, Samoa, Trinidad and Tobago, the ...
US, Canada Lift Tariffs On Steel And Aluminum: Joint Statement
The steep US tariffs imposed last year on national security grounds -- 25 percent on steel and 10 percent on aluminum -- became a major stumbling block to ratifying a new North American trade pact negotiated last year by the two countries and .
OGRA Recommends Gas Tariff Increase For Next FY 2019-20
Concluding the hearings, the OGRA determined the revised and forwarded the recommendation of average increase of 47 per cent hike in the commodity tariff for and 28 per cent for respectively, which would be notified after approval the .
SBP relaunches SMS service for issuance of fresh currency notes
ISLAMABAD (Web Desk) ? State Bank of Pakistan (SBP) through its subsidiary SBP Banking Services Corporation (SBP BSC) has relaunched the short messaging service (SMS) for issuance of fresh currency notes to the general public. Under this facility, a person may send an SMS message comprising his/her 13 digits computerized national identity card (CNIC)/smart card number along with the ...
