With payables touching almost Rs550 billion ($1.98bn), the government is contemplating finalising a schedule of payments to Chinese Independent Power Producers (IPPs) before convening the 13th Joint Coordination Committee (JCC) of the China-Pakistan Economic Corridor. This will be followed by Prime Minister Shehbaz Sharif’s visit to Beijing, expected in the first week of June. Informed sources
The Federal Board of Revenue (FBR) has released a comprehensive list of 506,671 individuals who failed to file their tax returns for 2023. As a penalty, their mobile phone SIMs will be promptly blocked. The decision was issued in an Income Tax General Order (ITGO) no 01 of 2024, which said that the mobile SIMs for these individuals will stay blocked until restored by the FBR or the Commissioner
Oil and Gas Development Company Ltd (OGDCL) posted a 7.18 per cent increase in its profit after tax (PAT) to Rs171.104 billion (earnings per share at Rs39.78 ) in the first nine months ending March 31 of 2023-24. In a statement on Wednesday, the company said its net sales revenue was Rs348.164bn. The board announced an interim cash dividend of Rs2 per share or 20pc for the quarter ended March 3
The Ministry of Science and Technology (MoST) has decided to forward the Competition Commission of Pakistan’s (CCP) proposal to revise national cement standards for disclosure of “manufacturing/expiry dates” on cement bags to the PSQCA for deliberation in the Technical Committee. A CCP team, led by Member OFT Saeed Ahmad Nawaz, held a follow-up meeting with Ali Tahir, Additional Secretary (In-c
The government borrowed a record amount from banks at record high prices, which ate up 76 per cent of the tax revenue during the first nine months of the current fiscal year. The latest data released by the State Bank on Tuesday reveals that the present government has been borrowing heavily from banks despite the fact the cost of money is at its peak. The SBP reported that the government bor