The Competition Commission of Pakistan (CCP) has approved the acquisition of two pharmaceutical products from Tokyo-based Eisai by Hilton Pharma. The acquisition includes the rights to manufacture and commercialise the drugs Methycobal and Myonal in Pakistan. The transaction involves the transfer of trademarks, know-how and records related to these products under an asset purchase agreement sig
While rejecting the federal budget 2024-25, almost all the key chambers and trade associations have asked the government to abolish the Final Tax Regime (FTR) and other anti-exports taxation measures. They believe that these measures will have disastrous consequences, leading to a decline in precious foreign exchange earnings and adversely affecting revenue generation for the national exchequer
Yielding to pressure from luxury automakers, the government has withdrawn the proposal to impose a 25 per cent sales tax on hybrid electric vehicles (HEVs) and restored the existing 8.5pc in the Finance Bill 2024, resulting in a loss of a whopping Rs30 billion to the national exchequer on an annualised basis. While wrapping up discussions on the budget 2024-25 in the National Assembly on Tuesda
Despite their annual revenues touching Rs12 trillion, the state-owned enterprises (SOEs) remain a substantial and increasing drain on taxpayers’ money, with power sector firms leading the losses and eating up the value of the nation’s assets. According to the Aggregate Annual Report on Federal SOEs for Fiscal Year 2023 released by the Ministry of Finance on Tuesday, gross revenues reached Rs11.
Finance Minister Muhammad Aurangzeb said in the National Assembly (NA) on Tuesday that next year’s fiscal budget will aim to reduce fiscal deficit by focusing on measures that enhance the government’s revenues and reduce unnecessary expenditures. Aurangzeb presented the budget on June 12 in the National Assembly, after which the lower house of parliament mulled over the financial plan for the u