Jan 27

NBP lends Rs18.8bn in Hascol’s Rs54bn scam

KARACHI: National Bank of Pakistan (NBP) has lent an amount of Rs18.8 billion out of Rs54 billion scam in Hascol Petroleum Limited. National Assembly Standing Committee on Finance and Revenue on Thursday reviewed the performance of NBP. The committee also discussed the recent Hescol loan scam of Rs 54 billion; of this NBP had lent […]

by Faisal Shah

FBR slashes sales tax rates on petrol, HSD

Jan 18

Energy, National, Taxation, Top stories

FBR slashes sales tax rates on petrol, HSD

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday slashed sales tax rates on petrol and high speed diesel (HSD) in order to reduce the impact of high oil prices at consumer end. The FBR issued SRO 88(I)/2022 dated January 18, 2022 to notify changes the sales tax rates on supply of petroleum products. The sales […]

by Anjum Shah

Pakistan’s petrol price rises to record high at Rs147.83

Jan 15

Energy, National, Top stories

Pakistan’s petrol price rises to record high at Rs147.83

ISLAMABAD: The petrol price in Pakistan has been increased to a record high of Rs147.83 per liter, said a statement issued by the finance ministry on Saturday. The government announced to increase prices of all petroleum products with effect from January 16, 2022. READ MORE: Prices of all POL products increased to wish New Year […]

by Anjum Shah

FBR fixes CNG value for charging sales tax

Jan 8

Energy, National, Taxation, Top stories

FBR fixes CNG value for charging sales tax

ISLAMABAD: The Federal Board of Revenue (FBR) on Saturday fixed the value of compressed natural gas (CNG) for the collection of sales tax. The FBR issued SRO 39(I)/2022 dated January 08, 2022 and notify the values of CNG, which is applicable from January 01, 2022. In suppression of its notification No. SRO 690(I)/2019 dated June […]

by Anjum Shah

FBR raises sales tax on all petroleum products

Jan 3

Energy, Taxation, Top stories

FBR raises sales tax on all petroleum products

ISLAMABAD: The Federal Board of Revenue (FBR) on Monday notified an increase in sales tax on all the petroleum products. The FBR issued SRO 01(I)/2022 to notify increase in sales tax rates on petroleum products. The FBR amended the rates of sales tax, which were issued previously through SRO 1604(I)/2021 on December 16, 2021. READ […]

by Anjum Shah

Prices of all POL products increased to wish New Year

Jan 1

Energy, National, Top stories

Prices of all POL products increased to wish New Year

ISLAMABAD: The government on Friday increased prices of all petroleum products to wish the nation the New Year 2022. The prices have been increased across the board around Rs4 per liter on all the products. READ MORE: Petrol price reduces to Rs140.82 per liter The prices have been implemented at 00:00 hours of January 01, […]

by Anjum Shah

Power generation rises by 13.4% in November 2021

Dec 21

Energy

Power generation rises by 13.4% in November 2021

KARACHI: The country’s power generation has recorded an increase of 13.4 per cent to 8,482 GWh (11,780 MW) in November 2021 as compared with 7,479 GWh (10,388 MW) in the same month of the last year. The rise in a generation was owed to higher generation from nuclear, coal, gas, furnace oil, and solar, analysts […]

by Hamza Shah

FBR notifies increase in sales tax on petrol, HSD

Dec 16

Energy, National, Taxation, Top stories

FBR notifies increase in sales tax on petrol, HSD

ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday notified increase in sales tax on supply of petrol and high speed diesel (HSD). The FBR issued SRO 1640(I)/2021 to notify the enhancement of sales tax on petrol and HSD. The sales tax on petrol has been increased to 1.63 per cent ad valorem from zero […]

by Anjum Shah

Petrol price reduces to Rs140.82 per liter

Dec 15

Energy, National, Top stories

Petrol price reduces to Rs140.82 per liter

ISLAMABAD: The government on Wednesday decided to reduce the prices of petroleum products for next fortnight considering the fall in international oil prices. The government has not passed on the all the benefit of fall in international oil prices as it enhanced sales tax rates. However, the government kept the petroleum levy unchanged. The prices […]

by Faisal Shah

SBP revises manual on remittances for petroleum sector

Dec 14

Energy, Money & Banking

SBP revises manual on remittances for petroleum sector

KARACHI: The State Bank of Pakistan (SBP) on Tuesday revised Foreign Exchange Manual related to remittances for petroleum sector operating under petroleum concession agreements. The central bank invited attention of Authorized Dealers is drawn towards Para 27 of Chapter 14 of Foreign Exchange Manual in terms of which SBP notified the process of remittance for […]

by Faisal Shah