ISLAMABAD: The Federal Board of Revenue (FBR) has turned down a proposal of the Ministry of Industries that sought to impose 18% general sales tax (GST) on locally manufactured cars across the board, saying it will result in a fall in tax collection as well as revenue loss. The Industries and Production Division was requested to provide its input on the rationalisation of criterion for the impo
KARACHI: Pakistan has significantly expanded the reach of banking services to encompass 60% of the adult population, including 43% female citizens. This achievement comes alongside the introduction and induction of innovative digital banking, underlining the belief that financial inclusion is a fundamental right that aids in alleviating poverty and fostering equitable economic growth. The acces
The Securities & Exchange Commission of Pakistan (SECP) has recently published a report on ‘enhancing transparency and efficiency’ of the shareholder meetings, seeking public comments on it. It recommends changes for conducting shareholder meetings, election of directors, issues related to proxies, voting processes, and monitoring mechanisms. According to the report, redressal of issues faced b
KARACHI: Lucky Motor Corporation Ltd (LMCL) on Monday reduced the prices of various models of Kia Sportage by Rs250,000-300,000. After the price cut, the new prices of Sportage Alpha, FWD and AWD and Black are Rs7.3 million, Rs7.740m, Rs8.470m and Rs9m. Alpha is booked on partial payment while other models are on full payment. An LMCL official said prices were decreased to lure more customer
LONDON: Bitcoin rallied to a two-year high on Monday, breaking above $66,000 as a wave of money carried it within striking distance of record levels. The price hit a session high of $66,240, up 5.4 per cent in Europe, having already hit a new two-year high in Asian trading. The largest cryptocurrency by market value has gained 50pc this year and most of the rise come in the last few weeks wh