The Federal Board of Revenue (FBR) on Tuesday suspended the fresh property valuations for the collection of withholding taxes in the Islamabad Capital Territory (ICT) after taxpayers raised a hue and cry over increases of up to 1,250% in valuations, which they said lacked any rational basis. The development comes on the heels of Rs103 billion in income tax collection from the real estate sector
The government has decided to sell its 100% stake in Pakistan International Airlines (PIA), but one-fourth of the shares will only be offered to the winning bidder at a 12% premium on the bid price, with an option to make the payment one year later. The government has also decided to take only 7.5% of the bid money in cash, while the bidder will invest the remaining 92.5% amount in the PIA comp
HBL, Pakistan’s premier financial services group, today launched its Impact & Sustainability Report 2024, highlighting the Group’s continued commitment to building an inclusive, resilient, and sustainable future for Pakistan. Guided by its majority shareholder, the Aga Khan Fund for Economic Development (AKFED), and a strong governance framework, HBL remains focused on delivering environmentall
Pakistan and Uzbekistan have agreed to extend their Preferential Trade Agreement (PTA), marking a major step forward in strengthening bilateral trade, investment and economic cooperation, with both sides setting an ambitious target of boosting two-way trade to USD2 billion within the next two years. The agreement to expand the PTA was reached following high-level engagements facilitated by the
Financial experts are optimistic about the future role of crypto exchanges in Pakistan as catalysts for attracting investment, reversing the flight of capital and contributing to the economy through tax revenues. The experts believe that the interest shown by major virtual currency trading platforms in Pakistan is a positive sign for restoring the confidence of foreign investors and attracting