Minister of State for Information Technology and Telecommunication Shaza Fatima Khwaja has announced that arrangements are underway to facilitate digital outward remittances for IT companies, saying the move will enable IT exporters to seamlessly pay international suppliers and vendors. Speaking at HBL-P@SHA ICT Awards 2024 here on Monday, she said the awards empowered innovators, startups, and
Competition for producing new energy vehicles (NEVs) has intensified as Sazgar Engineering Works Ltd (SEWL) plans to introduce the completely knocked down (CKD) model before Dec 31, 2025. In a stock filing on Monday, SEWL said the board of directors had approved the plan, which includes the expansion of the existing paint shop, construction of new warehousing facilities, installation of a solar
Pakistan’s top tax machinery is confronted with a big dilemma of nil-filers, which has reached an alarming level of 68 per cent of total income tax returns in the tax year 2023, Dawn has learned from official sources. This presents a significant challenge for the government in identifying individuals not paying their taxes, with 2.3 million out of 3.4 million potentially concealing their taxabl
The Senate’s Standing Committee on Economic Affairs criticised the State Bank of Pakistan (SBP) during a meeting on Monday for leniency in penalising commercial banks involved in Rs65 billion heist through unauthorised higher charges on opening of letters of credit (LCs) for imports at the height of a foreign exchange crisis in 2022. The meeting, presided over by Senator Saifullah Abro, sought
Bulls continued their stampede at the Pakistan Stock Exchange (PSX) as shares rallied more than 900 points on Wednesday, which analysts attributed to improvement in economic indicators. The benchmark KSE-100 index climbed 1,031.13 points, or 1.3 per cent, to stand at 80,522.26 points from the previous close of 79,491.13 points at 3:20pm. Finally, the index closed at 80,461.33, up by 970.20, or