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business

FBR urges general public to report unregistered businessmen charging sales tax

ISLAMABAD: The Federal Board of Revenue has issued a circular which has stated that general public has reported complaints against the businessmen who are charging sales tax from consumers without being registered with FBR under the Sales Tax Act-1990. It is, therefore, clarified that sales tax registration number (STRN) (thirteen digits) is issued to every […]

Samsung unveils premium-priced Galaxy Note 10

San Francisco (AFP) – Samsung on Wednesday unveiled a new-generation Galaxy Note large-screen handset starting at $950 and said it will work closer with Microsoft so that services function better across its array of devices. The Note 10 “phablet” which is set for release on August 23, comes in two sizes, with the larger beginning […]

CDWP approves 12 projects worth Rs14.5 billion

ISLAMABAD: The Central Development Working Party (CDWP) on Tuesday approved 12 projects worth Rs14.5 billion and recommended 03 projects worth Rs.18 billion to ECNEC for consideration. Secretary Planning Zafar Hasan, senior officials from federal and provincial governments were also present in the meeting. The projects related to energy, information technology, water resources, health, science & […]

Huawei first-half revenue up about 30% despite U.S. ban: Bloomberg

Huawei Technologies Co Ltd’s revenue grew roughly 30% in the first half after select teams secured critical supplies to keep production going despite U.S. technology export restrictions, Bloomberg reported on Tuesday, citing people familiar with the matter. The United States has put Huawei on an export blacklist citing national security issues, barring U.S. suppliers from […]

IMF says Pakistan needs to mobilise tax revenue, cut debt

Pakistan needs to mobilise domestic tax revenue to ensure funds for social and development programs, while reducing debt, the acting director of the International Monetary Fund said on Sunday after a meeting with Pakistani Prime Minister Imran Khan. The two officials discussed recent economic developments and implementation of Pakistan’s IMF-supported economic reforms, which are aimed […]

Hammad acknowledges ADB’s support for Pakistan

ISLAMABAD: Asian Development Bank (ADB) Country Director Xiaohong Yang called on Mr. Muhammad Hammad Azhar, Federal Minister for Economic Affairs. Ms. Yang congratulated Mr. Azhar on his appointment as Federal Minister. Minister for Economic Affairs acknowledged the ADB’s support for Pakistan and discussed key priority areas and new avenues for future interventions. The Minister reiterated that […]

Huawei announces $100 mln investment in Pakistan this year

ISLAMABAD: Federal Minister for Planning, Development & Reform Makhdum Khusro Bakhtyar, while appreciating Huawei’s continued engagement in Pakistan, said that the leading technological company can support in developing and upgrading IT sector of Pakistan. The Minister was talking to Vice President of Huwaei Group, Mr. Mark Xueman, who along-with a delegation called on him in Islamabad […]

Hammad Azhar loses federal revenue ministry within 24 hours

ISLAMABAD: Hammad Azhar has been removed as head of Revenue Division a day after he was sworn in as Federal Revenue Minister. According to well-placed sources, Dr Abdul Hafiz Shaikh was upset with the government for handing the revenue portfolio to Hammad Azar. According to a notification by the Cabinet Division, “Hammad Azhar will hold […]

Pakistan receives first tranche of $991.4 mln from IMF

ISLAMABAD: Pakistan has received the first tranche of loan of $991.4 million from the International Monetary Fund (IMF) under the under Extended Fund Facility (EFF). According to the State Bank of Pakistan (SBP), the country’s foreign exchange reserves now stand at above $15.0431 billion. On Jul 3, the Executive Board of the International Monetary Fund […]

Emirates NBD Bank CEO calls on Abdul Hafiz Shaikh

ISLAMABAD: A five member delegation from Emirates NBD Bank called on the Adviser to Prime Minister on Finance, Dr. Abdul Hafiz Sheikh, here this morning. The delegation was led by Mr. Fahad Al Qasim, CEO Emirates NBD Capital Limited. The adviser welcomed the delegation and expressed confidence that mutually beneficial relationship with the bank will further […]

First tranche of $1 bln for Pakistan to be released soon: IMF

KARACHI: International Monetary Fund Mission chief for Pakistan Ernesto Ramirez-Rigo has said that the first tranche of $1 billion will be released soon. Talking to media, Ernesto said that releasing loan would help stabilize the economic institutions in Pakistan. Pakistan is focusing on economic reforms and that growth rate would also go up next year, […]