Wednesday , 14 November 2018
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IMF wants higher taxes in Pakistan

As policy-level talks kick off, IMF stresses higher tax collection in Pakistan The International Monetary Fund (IMF) has expressed its dissatisfaction at the current state of Pakistan’s tax collection, a team representing the body that arrived here in the city to discuss the country’s ongoing financial crisis said late Monday. Earlier in the day, the delegation, which has already concluded …

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Foreign Minister – Major changes being introduced in ministry

Revolutionary changes being introduced in foreign ministry: FM Foreign Minister Shah Mehmood Qureshi has said that revolutionary changes are being introduced in the foreign ministry. Speaking to people during a visit to his constituency in Multan, he said all diplomatic missions in foreign countries have been directed to follow austerity measures and work with dedication for betterment of overseas Pakistanis. …

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Saudis cut oil production, Prices to go up

Oil prices climbed on Monday as the world’s biggest supplier Saudi Arabia announced plans to cut production in the face of fears of oversupply. Saudi Arabia’s energy minister said oil-producing nations should cut output by one million barrels per day to re-balance the market. Khalid al-Falih’s comments follow a meeting in Abu Dhabi at the weekend, where the Organisation of …

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Huge bailout packages to save the crumbling enterprises

Huge bailout packages to save the crumbling enterprises

The government on Monday approved Rs53 billion bailout packages for the bleeding national airline and power companies to avoid a halt to their operations. The decision was taken at a meeting of the Economic Coordination Committee (ECC) of the cabinet which also ordered the Sui Southern Gas Company (SSGC) to ensure uninterrupted gas supply to zero-rated export industries, including their …

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Regional connectivity to massively benefit from CPEC

Regional connectivity to massively benefit from CPEC

Chinese ambassador to Pakistan Yao Jing has reiterated that the China-Pakistan Economic Corridor (CPEC) project is not against any one country but will serve as a key to enhancing peace and cooperation in the region. He made these remarks while delivering a keynote address at the Fourth Trilateral Dialogue hosted by the Pakistan-China Institute in Islamabad on Monday. The conference …

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Shaheen Air gets acquired by a Saudi prince

Acquisition plan: Shaheen Air, Saudi prince clinch deal After Riyadh’s assurance to Pakistan of a $6-billion assistance package, a Saudi prince is now keen to rescue the country’s second largest airline, Shaheen Air International, from the financial crisis. Shaheen Air has finalised a deal with a Saudi prince. The takeover is likely to happen over the course of next two …

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FBR no longer a policy making body

FBR no longer a policy making body

The federal cabinet on Thursday decided to separate revenue collection administration from tax policy formation to promote equity and transparency in the tax machinery. The decision was taken at a special briefing meeting headed by Prime Minister Imran Khan who directed all economic divisions to keep the executive body in loop on the progress of ongoing reforms. Following the decision …

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Policymaking separated from tax collection

Policymaking separated from tax collection

A separate committee will be set up soon and notified to devise a tax policy and include tax experts on the board The government on Thursday decided to segregate revenue collection administration from tax policy formation to enable equity and transparency in the tax machinery. The federal cabinet reached this decision in a special briefing meeting presided by the Prime …

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Imran Khan updates cabinet on MoUs and Agreements signed in China

Federal Minister for Information Chaudhry Fawad Hussain on Thursday said that Prime Minister Imran Khan’s China visit was highly successful as several agreements and memorandums of understanding were signed between the two countries. Briefing the media persons about the federal cabinet meeting chaired by Prime Minister Imran Khan, the minister said that following this visit Pakistan would be able to …

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