The Federal Board of Revenue (FBR) has entered into data sharing agreements with provincial revenue authorities to enhance efficiency and transparency in the sales tax collection system of the country. The agreement in Karachi was signed by Member (R&S) Board of Revenue Ahmed Ali Shah on behalf of the Sindh government, and that in Quetta by Senior Member Board of Revenue Roshan Ali Shaikh on be
Pakistan’s overall oil sales plunged 47 per cent year-over-year to 1.171 million tonnes in April, while the total sales shrank by 24pc to 13.970m tonnes in the July-April period of FY23. However, oil sales rose 6pc month-on-month in April. Furnace oil (FO) consumption in April 2023 was 72,000 tonnes compared to 461,000 tonnes in April 2022, while sales fell 16pc on MoM. The July-April FY23 FO s
Brand image matters in Pakistan more than most other nations as 70 per cent of the respondents in the latest survey reported they’re willing to spend more on a well-known brand. “This in effect has caused growth in brands across categories,” said a global trends survey report released by international insights firm Ipsos on Wednesday. According to an analysis of the country-specific survey d
The National Electric Power Regulatory Authority (Nepra) on Wednesday concluded that ex-Wapda distribution companies (Discos) and K-Electric would charge between 34 paise and Rs3.70 additional fuel cost, respectively, from their consumers for power consumed in March, under monthly fuel cost adjustment (FCA) mechanism. The decisions were made on the completion of two separate public hearings. Th
The government raised Rs705 billion through an auction of market treasury bills despite Rs1.195 trillion bids offered mostly by banks on Wednesday. The bidding trend showed that banks were saturated with liquidity and willing to park maximum in the government papers. The government remained around its target of Rs750bn but the accepted amount was much higher than the maturing amount of Rs630bn.