Following the directives of the Presidency, the inquiry by the audit department of the Federal Board of Revenue (FBR) has finalised a demand of Rs18 billion in sales tax on the tractor maker. The case relates to an inquiry by the FBR against Millat Tractors Ltd (MTL), related to sales tax thefts under benami laws but the company challenged the action by the FBR at the Federal Tax Ombudsman (FTO
Despite a rise of 11.64 per cent in sales during January, local cement despatches recorded a 7.6pc drop to 21.435 million tonnes during the first seven months of the current fiscal year from 23.196m tonnes in the corresponding period last year. Exports, however, increased 31.54pc to 5.392m tonnes during 7MFY25 from 4.099m tonnes a year ago. Total cement sales — domestic and exports — fell by
Sindh Chief Minister Murad Ali Shah has formed eight ministerial committees to resolve problems traders and industrialists face across the province. Chairing a meeting of the Business Facilitation Coordination Committee (BFCC), constituted on the directives of PPP Chairman Bilawal Bhutto-Zardari to redress the grievances of the industrialists, the chief minister said he would personally handle
ISLAMABAD/LAHORE: National Food Security Minister Rana Tanveer Hussain said on Monday that the government was working to reform the cotton sector, including reviewing the 18 per cent GST on local lint to create a fairer market environment. Meanwhile, the Pakistan Cotton Ginners Association (PCGA) reported a 34pc decline in production against the target set for 2024-25. The minister also anno
The exports of merchandise slowed for the third consecutive month in January due to a slight fall in international demands, the Pakistan Bureau of Statistics said on Monday. On a year-on-year basis, the exports grew 11.83pc in July, followed by 16pc in August, 13.52pc in September, 10.64pc in October, 8.98pc in November, 0.67pc in December and 0.31pc in January. Exports in December 2024 were