Daily Archives: February 1, 2018

Supreme Court takes suo moto notice in illegal foreign assets of Pakistanis

ISLAMABAD: The Supreme Court of Pakistan (SCP) on Thursday took suo moto notice in illegal foreign assets of Pakistanis while expressing displeasure on the performance of state machinery in taking action against names appeared in Panama Papers and Paradise Leaks.

Proposal of tax rate cut for documentation of economy under consideration: Prime Minister

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Thursday said proposal of reducing tax rates was under consideration in order to facilitate documentation of economy and broadening of the tax base.

SBP not dictating banks in loan rescheduling, Senate committee informed

ISLAMABAD: State Bank of Pakistan (SBP) is a national institution and so far as rescheduling of loans the central bank is not dictating any bank against any company, SBP Deputy Governor Jameel Ahmed informed the Senate Standing Committee on Finance and Revenue on Thursday.

SRB collects record sales tax in January 2018

KARACHI: Sindh Revenue Board (SRB) has collected a record amount of Rs 9.5 billion as Sindh sales tax on services during the month of January, 2018, as compared to the collection of Rs 6 billion made during the corresponding month of January, 2017, thus representing a tremendous growth of 58 percent.

Inflation contracts at 4.4pc in January 2018

ISLAMABAD: The headline inflation i.e. Consumer Price Index (CPI) has contracted at 4.4 percent in January 2018 as compared with the increase of 4.6 percent in the previous month, according data released by Pakistan Bureau of Statistics (PBS) on Thursday.

MCC Port Qasim seizes huge quantity of chemical used for narcotics, explosive devises

KARACHI: Model Customs Collectorate (MCC) Port Muhammad Bin Qasim has seized huge quantity of chemical used for narcotics and explosive devises, which was mis-declared as summer fluid.

Pakistan customs includes valuation of household cameras

KARACHI: Directorate General of Customs Valuation has determined the values of cameras imported for general public consumption (non-professional). The directorate included all the major brands known globally including Sony, Nikon, Fuji Films, Canon and Samsung for determination of imported values to assess duty and taxes at clearance stage.