The government has agreed to reinstate the “Zero Rating regime” on UHT milk and nutritional milk powder, which was previously abolished in the Federal Budget 2016-17. Frieslandcampina Engro Pakistan Ltd (FCEPL PA) Taxation tailwinds can unlock value In addition, the government intends to keep the sales tax on other value-added dairy products at 10%, despite…
ISLAMABAD: The government is likely to enhance tax reliefs for the auto sector from 850 cc cars to 1000 cc cars in Pakistan in the finance bills 2021-22, in an order to promote affordable cars and their localization in the country. The government has already proposed incentives for 850 cc cars and now agreed to…
Aftab Ahmed Amid the looming gas crisis in Pakistan due to dry docking of the Engro LNG terminal, Sui Northern Gas Company Limited (SNGPL) says it could supply gas to industry and fertilizer plants. Engro LNG company wants to replace the existing floating terminal with a new one with higher capacity. Its contract with the…
Islamabad: The iron and steel industry in Pakistan on Thursday alleged the bureaucracy and policymakers for destroying the steel units in the private sector. While addressing a press conference, representatives of iron and steel associations criticized the policymakers and government functionaries for inefficiencies. Addressing a press conference here, the major players in the iron and…
Aftab Ahmed Islamabad: To check the further revenue bleeding of more than reported to the Federal Board of Revenue (FBR), the top four powerful sectors—Cigarette, Beverages, Sugar & Cement—will soon have a “Track & Trace” system, Shaukat Tareen shared with mediamen here on Saturday. The last hitch to operationalize the company, who has been awarded…
News Report Moscow: The Russian government has lifted the ban on the import of Pakistani rice after two years when Pakistani authorities assured the Russian to comply with SPS, an official of the Pakistani Mission in Moscow told this scribe. Pakistan has been struggling since 2019 to convince Russian authorities to allow the resumption of…
Islamabad: The Ministry of Commerce announced that Service Group joint venture with Chinese firm Chaoyang long march Tyre Co Ltd, is ready to start its Tyre manufacturing plant this month in Pakistan for buses and trucks. The total cost of the Project is PKR16.43 billion in debt to equity of 50:50. The Joint Venture plans…
Ghandhara Nissan Ltd is going to expand its business and decides now to introduce an automotive ‘Cherry’ in Pakistan. The joint venture will result in bringing investment and creating jobs in Pakistan. Ghandhara Nissan Limited will be expanding plants to introduce a new brand with a joint venture of a Chinese company. Ghandhara Nissan Ltd…
Aftab Ahmed Islamabad: Water shortage for Punjab and Sindh provinces dropped to 13 percent on Tuesday following better inflows of water in the rivers. Indus River System Authority (Irsa) held a meeting on June 1, 2021, to review the water situation. The inflow of water in rivers has increased from 229100 cusecs to 252600 cusecs….
Aftab Ahmed Islamabad: The Pakistan Engineering Company Limited (PECO) is on the verge of winding up. In the latest act of the tragedy that is Pakistan Engineering Company Limited (PECO), the Company Secretary informed the Pakistan Stock Exchange (PSX) that suppliers of the Company, having run out of options and patience, have filed a petition…