Business & Industry

A Meeting of the Senate Standing Committee on Industries and Production was held under the chairmanship of Senator Syed Faisal Ali Subzwari at the Parliament.   The members of the Committee received a comprehensive briefing from the Secretary, Ministry of Industries & Production, on how the Industries and Production Division aims to facilitate industrial growth …

Samsung to Start Local Manufacturing of Smartphones in Pakistan Soon Read More »

The Federal Board of Revenue (FBR) has allowed the owners of petroleum (POL) products including petroleum, LNG, oil, and lubricant products to export such POL products to any foreign territory including by way of direct sale or third party without filing Electronic Import Form (EIF). According to a notification, SRO 472(I)2021 issued here on Saturday, …

Petroleum Industry Players Allowed to Export without Filing Electronic Import Form Read More »

Pakistan will start exporting mobile phones and motorcycles next year, as declared by Abdul Razak Dawood, the Adviser to the Prime Minister on Commerce, Textile, Industries, Production and Investment. He added that exporters should focus on the nontraditional sectors to increase exports. Dawood said there is an acute dearth of manufacturing units for shirts, suits, …

Pakistan Will Start Exporting Mobile Phones and Motorcycles in 2022 Read More »

A meeting was convened by the Advisor to the Prime Minister for Commerce and Investment, Abdul Razaq Dawood, to discuss the issues related to the salt industry and export enhancement plans. The meeting was attended by the All Pakistan Salt Association (APSA) and the senior officers of the Ministry of Commerce. Dawood welcomed the association, …

Commerce Ministry Identifies New Product Sector for Diversifying Exports Read More »

Pakistani auto industry is having an eventful year. New cars launching every week or so, car prices going down in the new auto policy. Here’s another piece of news that will make things great from good. The Punjab government is planning to set up an Auto Parts Technology Park near Lahore. Cheers! Punjab’s Minister For …

Punjab To Get An Auto Parts Technology Park In Sheikhupura Read More »

The Senate Standing Committee on Finance has issued instructions to the Ministry of Finance, Commerce Ministry, and the State Bank of Pakistan (SBP) to thoroughly investigate the matter of PayPal’s reluctance to operate in Pakistan. On a complaint received at the Parliament House, the Senate standing committee on Finance headed by Senator Talha Mehmood has …

Govt Orders Authorities to Investigate Why PayPal Isn’t Coming to Pakistan Read More »

The Federal Board of Revenue (FBR) has constituted a committee of senior officers at Customs House, Karachi, to formulate rules to implement section 156(1) of the Customs Act 1969, as modified by the Federal Government vide Finance Act, 2021. The said provision of law prescribes certain penalties for not placing invoices, packing lists inside the …

FBR Forms Committee To Formulate Rules Under Modified Section of Customs Act Read More »

The Senate Standing Committee on Finance on Wednesday recommended imprisonment to the Federal Board of Revenue’s (FBR) tax officials in the field formations involved in issuance of bogus or illegal notices to the taxpayers for making frivolous tax assessments to harass the business community. Chairman of the committee, Senator Talha Mahmood, raised the issue that …

FBR Asked to Jail Officials for Sending Fake Tax Notices Read More »