KARACHI – The zero-rated textile export sector in Pakistan has raised concerns over the non-compliance of power utility companies in providing subsidized rates, according to a letter addressed to Abdul Razak Dawood, the Adviser to the Prime Minister on Commerce and Textile Industry.
(more…)Author: Faisal Shahnawaz
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Dollar retreats against rupee
In a notable development on Wednesday, the US dollar experienced a decline against the Pakistani Rupee, driven by increased export receipts and foreign inflows, according to market dealers.
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Mari Petroleum board approves acquisition of two new exploration blocks
The Board of Directors (BoD) of Mari Petroleum Company Limited (MPCL) has given its approval for the acquisition of two new exploration blocks, as announced in a statement issued by the company on Wednesday.
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United Bank registers 39 percent decline in annual profit
United Bank Limited (UBL) has revealed a substantial decline of 39.53 percent in its annual profit for the year ended December 31, 2018, attributing the decrease to significant provisioning, write-offs, and pension liabilities.
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Engro Corp announces 35 percent surge in annual profit
KARACHI: Engro Corporation Limited (ENGRO) has announced 35 percent surge in profit after tax to Rs12.71 billion for calendar year 2018 as compared with Rs9.41 billion in the preceding year.
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US dollar inches up in early trading
The US dollar saw a slight increase against the Pakistani Rupee in early trading on Wednesday, driven by persistent demand for import and corporate payments.
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PM directs harsh action against tax evaders, corrupt tax officials
ISLAMABAD: Prime Minister Imran Khan, on Tuesday, directed tax authorities to take strict measures against tax evaders and corrupt officials within the tax departments. The prime minister issued these directives during a meeting focused on the government’s revenue generation efforts.
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Steps afoot to rationalize tax regime: Asad Umar
Finance Minister Asad Umar reiterated the government’s commitment to fostering a more supportive environment for taxpayers on Tuesday, announcing steps toward the rationalization of the tax regime.
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ECC approves amending import policy order for tightening labeling requirement
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved to amend Import Policy Order to further tighten labeling requirement in order to facilitate local consumers to understand product ingredients.
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Jhagra says mining industry has potential for industrial growth
KARACHI: Finance Minister of Khyber Pakhtunkhwa Taimur Saleem Khan Jhagra on Tuesday said that mining industry has huge potential for industrial growth and job creation.
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