KARACHI – The Finance Supplementary (Second Amendment), 2019 has introduced a proposed overhaul in the valuation and levy structure for imported mobile phones, shifting from Pakistani Rupees to US Dollars.
(more…)Day: January 26, 2019
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Rupee gains 20 paisas in open market
KARACHI – In a positive development for the Pakistani economy, the Pakistani Rupee gained 20 paisas against the US Dollar in the open market on Saturday.
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New policy to review 7,000 tariff lines for enhancing exports, investment: Razak Dawood
KARACHI – Abdul Razak Dawood, the Adviser to the Prime Minister on Commerce and Textile, announced on Saturday that the Pakistani government is set to review 7,000 customs tariff lines as part of a comprehensive new national tariff policy.
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Weekly Review: equity market to continue positive rally on foreign inflows
Analysts are optimistic about the Karachi Stock Exchange (KSE) maintaining its positive momentum in the coming week, buoyed by a surge in foreign investments.
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Customs, regulatory duties on 135 tariff lines to be reduced / eliminated for raw materials
In a major move aimed at boosting both the export sector and domestic industrial production, the Pakistani government has unveiled plans to eliminate or reduce customs duty, additional customs duty, and regulatory duty on 135 tariff lines associated with crucial raw materials.
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Rs400 million penalty amount waived for clearance of stuck up goods at bonded warehouses
The penalty amount, totaling Rs400 million, has been waived for the clearance of goods held up in bonded warehouses.
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Changes to sales tax exemptions proposed
Changes to sales tax exemption have been proposed through Finance Supplementary (Second Amendment) Bill of 2019.
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PBC resents restoration of final tax regime for commercial importers
The business association representing multinational companies (MNCs), the Pakistan Business Council (PBC), has strongly criticized the proposed restoration of the Final Tax Regime (FTR) for commercial importers, urging the government to reconsider its decision. The PBC’s concerns were voiced in response to the Finance Supplementary (Second Amendment) Bill of 2019.
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Cabinet approves 20pc increase for EOBI pensioners
In a significant move, the federal cabinet has approved a landmark 20% increase in pensions for over 450,000 pensioners of the Employees Old-Age Benefits Institution (EOBI).
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