In a bid to promote business alliances and sectoral matchmaking between private enterprises of the textile sector of Pakistan & China, the Prime Minister’s Office, Board of Investment, Pakistan, organized a “CPEC Industrial Cooperation Textile Business to Business (B2B) Webinar” in collaboration with China Council for International Investment Promotion (CCIIP) and China National Textile & …
The Federal Cabinet has decided to buy out eleven IPPs based on furnace oil (FO) at a discounted value of Rs. 150-200 billion, reported a national daily. The decision came to light on Tuesday, and it was reportedly taken to eliminate the capacity charges payments of the IPPs that have amounted to Rs. 450 billion. …
Govt to Buy Out 11 IPPs to Save Billions in Capacity Payments Read More »
Pakistan’s economic growth is expected to rebound this year before gaining pace in 2022 as business activity gradually resumes after the coronavirus disease (COVID-19) pandemic, the Asian Development Bank (ADB) said in a report today. According to the Asian Development Outlook (ADO) 2021, ADB’s annual flagship economic publication, Pakistan’s economy will grow by 2 percent …
Pakistan’s Economic Growth is Expected to Rebound: ADB Read More »
The Federal Board of Revenue (FBR) has raised customs duty drawback rates on the exports of confectionery items with effect from April 26, 2021. The FBR has amended the SRO.212(I)/2009 through a notification. According to an announcement of the FBR, “In line with Prime Minister’s Initiative of ‘ Make in Pakistan, FBR has issued SRO …
FBR Raises Customs Duty Drawback on Confectionary Exports Read More »
The Federal Tax Ombudsman (FTO) has recommended the Federal Board of Revenue (FBR) to pay Rs. 1,000 as an incentive for the filing of an income tax return through cash payback payment in the bank account of the return filer under the policy measure to broaden the tax base. According to the FTO annual report …
Planning Division Wants to Discontinue Gas Subsidy From Export-Oriented Industries Read More »
The Planning Division has asked the government to abolish subsidy on gas to the export-oriented sector. The export-oriented sector also has the facility of subsidy on gas and electricity. Another package of Rs. 26 billion has been recently approved by the Cabinet Committee on Energy (CCOE) for the industry by extending the Time of Use …
Planning Division Wants to Discontinue Gas Subsidy From Export-Oriented Industries Read More »
The Federal Board of Revenue (FBR) has given additional responsibilities to the Directorate General of Customs Valuation to prevent the flight of capital and trade-based money laundering taking place through mis-invoicing of exports. The FBR on Friday has issued SRO.503(I)/2021 to specify the powers and functions of the Directorate General of Customs Valuation. The directorate …
FBR Takes a New Step to Prevent Money Laundering Read More »
Board of Investment (BOI) presented Investment opportunities in China Pakistan Economic Corridor (CPEC) during a webinar jointly organized by Embassies of Pakistan and China, hosted by Jakarta. MOS/Chairman BOI, Ambassadors of Pakistan and China to Jakarta, Deputy Minister for Coordination and Mining, Chairman KADIN, DG NDRC, Deputy Chairman BKMP, Deputy Director CIECC were part of …