Pakistan Today

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to question those taxpayers who did not declare their taxable income under the asset declaration scheme.  According to documents available with this scribe, the tax department has made certain amendments in the Assets Declaration (Procedure and Conditions) Rules 2019, wherein those taxpayers would be asked who did not declare their taxable...

KARACHI: Pakistan's IT exports increased 39pc to $763 million in the first five months (July-Nov) of the current fiscal year (FY21), data resealed by the State Bank of Pakistan showed. Analysts attribute the rise in IT exports to relaxed regulations by the SBP with regard to remitting funds in and out of Pakistan. In addition, the government announced a number...

ABAD chief terms sudden hike in steel and cement prices 'a conspiracy against PM's affordable housing scheme'

KARACHI: More than 1,300 Pakistan International Airlines (PIA) employees have submitted applications seeking early retirement under the voluntary separation scheme (VSS), it was learnt on Tuesday. Today (Dec 22) was the last date for submission of applications. PIA plans to lay off over 3,000 employees under the VSS by the end of December. According to details, the national flag carrier, under...

LONDON: Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a mutant variant of the coronavirus in Britain revived concerns over demand recovery. Detection of the new variant prompted several countries to close their borders to Britain. The BBC cited France’s Europe Minister as saying that the two countries would announce a deal...

PESHAWAR: The 13th meeting of Khyber Pakhtunkhwa's Provincial Development Working Party (PDWP) on Tuesday approved 25 uplift schemes of different sectors with an estimated cost of Rs36.08 billion. The meeting was held under the chairmanship of Shakeel Qadir Khan, Additional Chief Secretary P&D Department, via video link. As per details, the forum considered 28 schemes pertaining to water, health, Auqaf, Hajj...

ISLAMABAD: British American Tobacco (BAT) has decided to move its 'shared services' operations from Malaysia to Pakistan, it was learnt on Tuesday. BAT is the first multinational company to move its Business Process Outsourcing (BPO) services to Pakistan after Deutsche Bank withdrew its operations from the country, officials of the commerce ministry said. Earlier today, a meeting was held at the...

PESHAWAR: The Khyber Pakhtunkhwa (KP) government has announced to increase the wheat quota for flour mills from 5,000 tonnes to 6,000 tonnes per day to avoid any flour crisis in the province. In this regard, the provincial government has warned the mill owners that there should be no increase in flour prices after the government increases its supply.  According to officials,...

ISLAMABAD: The imports of overall petroleum group declined by 22.78 per cent during the first five months (July-Nov) of the current financial year (FY21) as compared to the corresponding period of last year. According to data issued by the Pakistan Bureau of Statistics (PBS) on Tuesday, during the period under review, the total imports of the petroleum group stood at...

LAHORE: State Bank of Pakistan (SBP) Deputy Governor Sima Kamil said on Tuesday that the central bank is committed to digitizing corporate supply chains in order to help achieve the goal of digital financial inclusion.  "It is the overarching aim of the State Bank to ensure a safe and secure financial system. The other role that we have is financial...

Pakistan's number of active taxpayers crossed three million for the first time in the country's history, according to data released by the Federal Board of Revenue (FBR) on Monday. The weekly updated active taxpayers list (ATL) showed that the number of return filers for the tax year 2019 were at 3,000,453 on the basis of return filed up to December...

KARACHI: Bearish sentiment continued to prevail at the Pakistan Stock Exchange (PSX) on Tuesday, with the benchmark index once again succumbing to late selling pressure and closing in the red.  Global equity markets displayed a mixed pattern, whereas crude oil prices continued to slip lower; WTI crude price declining 1.38pc to $47.32, while Brent crude falling 1.08pc to $50.36 (as...

Finance Minister Abdul Hafeez Shaikh has summoned a meeting of the Economic Coordination Committee (ECC) on Wednesday to discuss a six-point agenda, including the issuance of Eurobonds for Mohmand and Diamer Bhasha dams. According to local media reports, the ECC is also likely to approve the Karachi Transformation Plan in the forthcoming meeting which had been deferred previous two sessions. The...

China-Pakistan Economic Corridor Authority (CPEC) Chairman Lt Gen (r) Asim Saleem Bajwa has said that the multi-billion dollar CPEC project has been moving ahead at a rapid pace despite the global economic slowdown resulted due to the coronavirus pandemic. He was addressing the online award ceremony organised by the Chinese Embassy in Islamabad for outstanding Pakistani staff of China Pakistan...

ISLAMABAD: The federal government on Tuesday decided to form a Drone Regulatory Authority (DRA) for effective use of the remote-control surveillance technology in various fields. Minister for Science and Technology Fawad Chaudhry apprised Prime Minister Imran Khan regarding the formulation of drone policy at a high-level briefing in Islamabad. The premier was also thoroughly briefed on the peaceful and research-based use...