Important Business News
1st November, 2019
Last date for filing IT returns extended
Federal Board of Revenue (FBR) has extended date for filing of income tax returns/statements for individuals and associations of persons for the tax year 2019 up to November 30, 2019.
Army decides to start generating electricity
Pakistan Army has reportedly decided to start generating power for all its establishments across the country.
The government on Thursday increased the prices of three major petroleum products — high speed diesel (HSD), petrol and liquefied petroleum gas (LPG) — for the month of November to generate an additional revenue of about Rs700 million.
World Bank Group President David R. Malpass on Thursday said the reforms carried out by Pakistan for ease of doing business would help create jobs, attract investment and generate more tax revenue.
With total circular debt close to Rs1.7 trillion, the government is considering to introduce swap bonds to re-profile short- and medium-term payables into long-term coupons having up to 25 years of maturity.
Amid ongoing review meetings with the International Monetary Fund (IMF), the country’s revenue shortfall continued to expand rather dramatically in October as the government extended the deadline for filing of tax returns for another month.
The State Bank of Pakistan (SBP) on Thursday allowed the farming community to use Electronic Warehouse Receipt (EWR) as collateral for lending against agriculture produce and commodities.
|8.||Caving in to traders
IT is a little difficult to say what exactly happened between the government and the trader community, but one thing is clear: the outcome looks very much like a capitulation on the part of the rulers.
|9.||Currency exchange rates