Foreign direct investment increases by over 10pc during first half


KARACHI: Foreign Direct Investment (FDI) of the country has increased by over 10 percent to $1.08 billion during first half of current fiscal year against $978 million in the same half of the last fiscal year, according to data issued by State Bank of Pakistan (SBP) on Monday.

FBR notifies sales tax changes on POL products


ISLAMABAD: Federal Board of Revenue (FBR) on Sunday issued notification for change in sales tax rate on the petroleum products after the announcement of the government for increase in POL products.

Petroleum prices increased for next fortnight

ISLAMABAD: The government after realizing the revenue shortfall has decided to pass on the impact of higher prices of petroleum products to consumers.

KPT to deliver goods only to bonafide agents


KARACHI: Karachi Port Trust (KPT) has said that it will deliver cargo to the bonafide consignee/clearing agents in conformity with the documents and not to the strangers.

SRB invites proposals for Sindh Budget 2017/2018


KARACHI: Sindh Revenue Board (SRB) has invited business community to send their tax proposals for formulation of Sindh Budget 2017/2018.

SBP enhances credit guarantee coverage to 60pc for loan to business starters, women borrowers


KARACHI: State Bank of Pakistan (SBP) has made changes in the Credit Guarantee Scheme (CGS) and increased the guarantee coverage to 60 percent for loan extended to business starters and women borrowers.

SBP allows relaxation to rice, leather exporters in meeting performance under Export Finance Scheme


KARACHI: State Bank of Pakistan (SBP) has allowed relaxation of time period for exports of rice and leather to meet their export performance.

Asset management companies asked to make borrowing arrangements for unexpected redemption


ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Friday proposed measures to improve liquidity risk management in the open end equity oriented funds under which all Asset Management Companies (AMCs) will be required to make arrangements with financial institutions in advance for borrowing to deal with unexpected redemption.

Dar directs FBR to take necessary action to meet revenue collection target


ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar has directed Federal Board of Revenue (FBR) to take all necessary action to cover the revenue shortfall and meet the revenue collection target set for current fiscal year.

Deputy Collector awarded major penalty for inefficiency


KARACHI: Federal Board of Revenue (FBR) has imposed major penalty upon a customs officer of BS-18 reduction of two stages in time scale on account of inefficiency.