The government has decided to wind up and merge several entities that come under the umbrella of the Ministry of Science and Technology in a bid to reduce workload and improve overall performance. In a recent meeting, the federal cabinet approved a series of proposals targeted at enhancing efficiency and ensuring the optimal functioning of various government entities under the Ministry of S&T.
The government may impose a 20% income tax on offshore digital services, introducing a 10-year prison sentence for sales tax fraud, and empowering junior Federal Board of Revenue (FBR) officers to arrest suspects without prior approval from higher authorities. The government is also considering empowering FBR officers with the power to request placing individuals involved in tax fraud on the Ex
European and Asian stock markets rose on Monday and bitcoin soared to a new high as Donald Trump prepared to re-enter office as president of the world’s biggest economy. The dollar slid more than one per cent versus the euro and lost similar ground against the pound after The Wall Street Journal reported that Trump would not immediately impose tariffs upon his inauguration. The dollar shed 1
Rousch Pakistan Power Ltd (RPRL), an independent power producer (IPP), has handed over its complex to the designated government entity after receiving all the agreed dues from the Central Power Purchasing Agency (CPPA). Altern Energy Ltd (AEL), the parent company of RPPL, in a stock filing on Monday said the subsidiary, as per terms of its Negotiated Settlement Agreement (NSA), has terminated i
The oil import bill posted a paltry growth of over 1 per cent in the first half of the current fiscal year from a year ago, showed data released by the Pakistan Bureau of Statistics (PBS) on Monday. The data analysis suggests that all the groups, including petroleum goods, consumer durables and raw materials, witnessed a growth in imports in July-December 2024-25 over the same period last year.