Saturday, April 23rd, 2022
Miftah says govt willing to curb fuel subsidies
ISLAMABAD, APR 23: Finance Minister Miftah Ismail on Friday agreed with International Monetary Fund (IMF) recommendations to reduce fuel subsidies and end a business tax amnesty scheme, pledging to pursue structural reforms to boost a crisis-wracked economy. The IMF in 2019 approved a $6 billion loan over three years for Pakistan but disbursement has been slowed by concerns about the pace of reforms. Ismail, who took office this month after the Imran Khan led-government lost a no-confidence vote, said he had “good discussions” with the IMF on a visit during the Washington-basedRead More
Mian Anjum Nisar for taking notice of fuel shortage, technical faults
Karachi: /DNA/ – The Federation of Pakistan Chambers of Commerce & Industry’s Businessmen Panel (BMP) has called for formulating a reform strategy on an emergency basis, taking urgent measures as severe power suspension has been hitting the trade and industry due to electricity shortfall of around 7,000MW amidst closure of more than a dozen of plants in the country. FPCCI former president and BMP Chairman Mian Anjum Nisar asked the authorities to take quick action, taking notice of forced loadshedding in the industry because of non-availability of fuel, technical faults, failureRead More
PIAF wants serious steps as Rupee witness volatile trend
ISLAMABAD: /DNA/ – The Pakistan Industrial and Traders Associations Front (PIAF) on Saturday said the rupee witnessed volatile trend in the process of trading against dollar and other major currencies. PIAF Senior Vice Chairman Nasir Hameed and Vice Chairman Javed Siddiqi, in a joint statement issued here said that massive fall of rupee value continued to damage the economy, as the rupee witnessed a huge depreciation against the greenback. Nasir Hameed observed that besides increasing exports and controlling imports the government will have to take administrative measures, as a largeRead More
PM’s decision to improve relations with KSA lauded
ISLAMABAD: Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Saturday lauded the decision of the Prime Minister Shahbaz Sharif to improve relations with Saudi Arabia. Efforts will be made to get cheap oil and LNG from Saudi Arabia, which will reduce the ongoing energy crisis, increase production and boost employment, he said. Shahid Rasheed Butt said that the government has decided to export work force to Saudi Arabia to reduce unemployment and increase remittances. The government has also decided to attract the SaudiRead More
ICCI calls for fixed tax regime for marble industry
Islamabad, APR 23 /DNA/ – In order to optimize the tax collection and broaden the tax base, the government should re-introduce the fixed tax regime for the marble industry on the pattern of the Tier-2 retailers from whom the sales tax is charged through electricity bills. This was stated by Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry (ICCI). He said that effective from June 2016, the marble industry was paying a fixed sales tax @ Rs.1.25 on per unit of electricity consumed as a final discharge ofRead More