The pending tax refunds of multinational companies operating in Pakistan have grown to Rs93 billion, up 15 per cent from October 31, 2022, when the representative body of foreign investors last took up this matter with the revenue collection authority. A tax refund is a payment to the taxpayer after it has paid to the government more tax than it owes. Businesses have routinely accused tax au
Energy Minister Khurram Dastgir Khan on Monday told the parliament that the government would recover Rs9.90 to Rs14.24 per unit outstanding fuel costs from consumers of less than 300 units in an 8-month staggered schedule. Mr Dastgir said an additional surcharge of Rs3.82 per unit would also be imposed on those using above 300 units to fund power sector loans under the insistence of the Interna
DHL, a global logistics company, announced on Monday to suspend some of its operations partially in Pakistan due to restrictions on outbound remittances by the government. DHL Pakistan has informed its customers that it is suspending ‘Import Express Product’ and restricting outbound shipments to a maximum weight of 70kg per shipment for all customers billed in Pakistan from March 15. The com
Trading in the stock market started in the outgoing week on a positive note as parliament passed the mini-budget aimed at generating additional Rs170 billion. Arif Habib Ltd said another positive trigger was the decline of $7.76bn in the current account deficit in the first seven months of 2022-23 to $3.8bn, thanks to a massive reduction in imports. However, conditions in the stock market start
THIS story is about a country where the elites completely control politics and the economy. The elites are disproportionately overrepresented in parliament as money literally buys votes. The elites also dominate the economy as even though they are less than 0.5 per cent of the population, they hold almost 30pc of all private wealth. Predictably, this country is the poorest place in the wider re