Business

Illegal trade is weakening Pakistan’s performance in the global arena and the country is losing a huge amount of invaluable tax revenue, which can be used to enhance development spending.Ipsos, a global market and social research organization, in its latest report launched in Islamabad, highlighted that the mammoth gap in…

Economic Survey, containing the details of major socio-economic achievements during the outgoing fiscal year will be launched in Islamabad tomorrow (Thursday). Finance Minister Ishaq Dar will chair the launching ceremony. The Economic Survey will provide details about the major socio-economic developments, performance, and economic trends of various sectors of the…

Society for the Protection of the Rights of Child (SPARC) issued a press release to highlight Tobacco industry’s mischievous ways to earn additional profits from tobacco users. According to the health activists, government should be earning additional revenues from increased tobacco taxation not tobacco industry. Malik Imran, Country Head Campaign…

• Increased shared of illicit brands will lead authorities to miss tax collection goals: IPSOS report • Approximately two billion cigarette packs are evading the tax net: Survey • Illicit cigarettes market share reaches whopping 48%: IPSOS survey • 83% cigarettes brands in market are without track & Trace stamps:…

The Oil and Gas Regulatory Authority (OGRA) determines the revenue requirements of sui companies for F.Y 2023-24. The average prescribed price per MMBTU of gas is recommended as Rs.1238.68 and the increase in price per MMBTU is Rs.415.11 with increase percentage of 50% for SNGPL. The Average prescribed price for…

Health activists have appreciated Prime Minister Shahbaz Sharif’s directives to curb down illegal trade of tobacco products in Pakistan. In a press release shared by Society for the Protection of the Rights of the Child (SPARC), the health activists mentioned that Federal Board of Revenue’s Track and Trace system has…

Nutshell Conferences Group and Martin Dow Group, in strategic partnership with Overseas Investors Chamber of Commerce and Industry, and Unity Foods Limited, hosted Day 1 of the 6th Edition of LEADERS IN ISLAMABAD BUSINESS SUMMIT, with the theme “The BIG Rethink.” The sub-themes on Day 1 varied from the need…

Finance Minister Ishaq Dar has reiterated to provide a business friendly budget in order to support masses and for the economic progress and development in the country.  He was talking to a delegation of Association of Builders and Developers of Pakistan that called on him in Islamabad on Monday. The…

Pakistan’s First International Conference on Islamic Capital Markets, organized jointly by the Securities and Exchange Commission of Pakistan (SECP) and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), successfully concluded here on Monday. The theme of the one-day conference was “ICM development with ecosystem completion: innovation, growth, and…

The First International Conference on Islamic Capital Market is being held in Islamabad from Monday. This Conference will help Pakistan in implementing the Federal Shariat Court’s judgement to make our financial system Riba free. Chairman Securities and Exchange Commission of Pakistan Akif Saeed called on Finance Minister Ishaq Dar in…

Sindh Governor Kamran Khan Tessori has said that Pakistan’s profitable textile and leather sectors play a significant role in national economy. Talking to media during his visit to the 4th International Textile Expo in Karachi on Sunday, he said that millions of people associated with these sectors are contributing considerably…

Increased tobacco taxation is a win-win situation for the government and people of Pakistan provided that the government remains steadfast on its decision of increasing tobacco taxation. This arguments was raised during an event organized by Society for the Protection of the Rights of the Child (SPARC) with Federal Board…

The documented tobacco sector in Pakistan is experiencing a significant decline in sales, resulting in a loss of billions of rupees to the national exchequer. Concurrently, the illegal cigarette market is witnessing a surge, causing severe damage to the government’s tax collection target for the fiscal year 2022-23 and undermining…

The Securities and Exchange Commission of Pakistan (SECP) and Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) will be hosting the inaugural conference on Islamic Capital Markets (ICM), in Islamabad on Monday, May 29, 2023. The theme of the conference is “ICM development with ecosystem completion: innovation, growth, and…

Health activists urged the government to be wary of the misleading tactics of tobacco industry which causes substantial loss to national exchequer each year. During an event organized by Society for the Protection of the Rights of the Child (SPARC) in collaboration with Social Policy and Development Centre (SPDC), health…

The Securities and Exchange Commission of Pakistan (SECP) held a capacity building workshop for journalists at its Head Office today, apprising them about SECP’s efforts on promoting Islamic finance and encouraging innovation within its regulatory domain. The session was attended by leading journalists from print and electronic media. Ms. Musarat…

Ministry of Economic Affairs has clarified news circulating on media regarding the Financing received by Pakistan from July 2022 to April 2023. In a statement issued by the Ministry, it said that in some sections of the press, it has been reported that Pakistan has received 8.1 billion dollars in…

The first-ever Pak-China Business Forum on Industrial Relocation and Technology Transfer was held at Pakistan Embassy in Beijing. The event was organized by the DEA Group of Companies, based in Pakistan and the UAE with a vision to facilitate global collaboration and promote economic growth. The CEO of DEA Group…

Health activists urged the government to remain steadfast on its decision of increasing tobacco taxation in order to generate more revenue for the national exchequer. During an event organized by Society for the Protection of the Rights of the Child (SPARC), health activists presented a Simulation Model on Tobacco Taxation…

The Government on Monday signed a Debt Service Suspension Agreement with Republic of Korea to deferment of payment of loans worth 19.911 million dollars, under the G-20 Debt Service Suspension Initiative framework. According to a press release issued by the Economic Affairs Division, this amount, initially had to be repaid…

Dr. Foziya Amin, Minister of State for Innovation and Technology of Ethiopia has said that there are vast opportunities of cooperation between Ethiopia and Pakistan in various fields including economy, IT, science, technology and stressed that they should take full benefit of them. She said that Pakistan is an important…