The removal of Pakistan from the grey list of the Financial Action Task Force (FATF) will boost the economy by attracting foreign direct investment as well as address the liquidity issues faced by Islamabad, said the business community on Sunday. As it hailed the decision of the terror financing watchdog, business leaders said the FATF exit will restore the confidence of international financial
The government has dismissed an IT industry’s demand for waiving a ‘negligible’ tax on its services to support the sector’s faltering exports but agreed to provide maximum facilitation, including exemption from audit by the tax authorities. Presiding over a meeting of the IT sector on Sunday, Finance Minister Ishaq Dar observed that the effective tax rate on the sector was about 0.25 per cent,
The Federal Board of Revenue (FBR) has allowed the cross-stuffing of goods from one container to another container or any other mode of transportation under the Afghan Transit Trade Agreement (ATTA) and TIR Convention. An SRO1908 of 2022 was released on Monday by amending the customs rules to allow the facility for a smooth movement of transit cargo. The cross-stuffing of containerised cargo
Kot Addu Power Company Ltd (Kapco) said on Monday it has submitted a tariff petition to the National Electric Power Regulatory Authority (Nepra) for a reference generation tariff. The independent power producer (IPP) made the announcement as its original power purchase agreement (PPA) of 1996 completed its term on Oct 24. As a result, the operator of a multi-fuel–powered plant of 1,600 megawatt
The National Electric Power Regulatory Authority (Nepra) on Monday allowed Rs12.68 per unit increase in power rates for K-Electric under quarterly tariff adjustment (QTA) for the period — April to June FY2021-22, with a net additional revenue of about Rs56bn to the Karachi-based private utility. The decision is unlikely to affect consumers in Karachi because of uniform tariff policy of the go