The Federal Board of Revenue has imposed hefty fines on 10 sugar mills for tax violations as part of a campaign to improve compliance and similar action against 10 other mills is nearing completion, Dawn has learnt from official sources. After start of the sugarcane crushing season for 2024-25, the Federal Board of Revenue launched an improved production monitoring system for sugar. As a result
The World Bank is currently working with the government to invite private sector participation in the distribution sector, starting with the best-performing power distribution companies (Discos). The success of this initial initiative could pave the way for the private sector participation in under-performing Discos. However, Discos’ poor financial health remains a significant barrier. An As
Even as the draft of the New Energy Vehicle Policy (NEVP) 2025-2030 predicts a 30 per cent share of new electric vehicles by 2030, 90pc by 2040, and 100pc by 2050, it has not seriously touched the main issue of removing decades-old vehicles responsible for polluting air quality and promoting smog. With business as usual, the government expects to increase its fuel import bill to $64 billion by
As of October 2024, the outstanding credit card portfolio in Pakistan stood at Rs8.5 billion, according to the State Bank’s Credit/Loans report. This represents approximately one per cent of the industry’s total consumer financing portfolio. While the financial sector has traditionally prioritised the mass consumer segment, there is significant potential to broaden its focus. Expanding into the
The government is struggling to bring about structural changes in the economy to achieve sustainable and inclusive economic growth with a focus on addressing the external balance of payments crisis. When the economic growth goes up to four per cent, the current account deficit rises, says Finance Minister Muhammad Aurangzeb. The average economic growth rate in three years was 1.7pc, and the cur