The American Business Council (ABC) has urged the government to create a supportive business environment. An ABC delegation comprising representatives from nine leading US companies with operations in Pakistan met Commerce Minister Jam Kamal on Wednesday to discuss mutual issues concerning the business environment. An official announcement from the commerce ministry said that the meeting foc
Soon after his return from Saudi Arabia, Prime Minister Shehbaz Sharif chaired a meeting on tax reforms and finally gave a deadline of Dec 31 for the much-awaited digitalisation of the Federal Board of Revenue (FBR). A source in the Prime Minister’s Office told Dawn that the PM also directed the relevant authorities during the meeting to take stern measures to increase collection of taxes. He h
Services exports rose 13.43 per cent to $688.95 million in October against $607.37m in the corresponding month last year. The growth has returned since February this year mainly due to increased information technology exports, except in August, which saw a 6.5pc decrease. In rupee terms, the exports improved by 12.34pc to Rs191.3 billion in October against Rs170.281bn in the same month last
Finance Minister Muhammad Aurangzeb has expressed dissatisfaction with three provinces’ delay in passing new agriculture income tax laws. This new legislation is one of the conditions agreed upon with the International Monetary Fund as part of the 37-month $7 billion Extended Fund Facility. The finance minister reviewed several tax initiatives during the National Tax Council (NTC) meeting on We
The government borrowed Rs2 trillion through auctions of sukuk (Islamic bonds) at the stock exchange and raised another Rs1.4tr by selling Pakistan Investment Bonds (PIBs) during 2024. The government has been trying to restructure its debt profile by opting for long-term borrowing over short-term domestic bonds. “In 2024, the government raised Rs2tr from sukuk auctions using the PSX auction