Web Desk — Indus Motor Company (IMC) and Honda Atlas Cars Ltd (HACL) have increased prices by Rs63,000-493,000 following an increase in Federal Excise Duty (FED) after the passage of Finance (Supplementary) Bill 2021, commonly known as mini-budget. The price of different Toyota Yaris models has risen by Rs63,000-76,000, according to the announcement. Yaris 1.3GLI MT, GLI CVT, ATIV MT, …

Web Desk — Japan’s Ambassador to Pakistan Wada Mitsuhiro pointed out that Pakistan was among the biggest exporters of shrimp, mango, dates, and rice to Japan. In a meeting with Minister for National Food Security and Research Syed Fakhar Imam on Thursday, the envoy said that Japan had a substantial market for seafood, and showed great interest in importing fishery …

Web Desk — Dollar prices may cross Rs200 after the Federal Board of Revenue (FBR) imposes a withholding tax on exchange companies, which are receiving notices to the tune of hundreds of millions of rupees. According to exchange company representatives, the FBR is sending them notices regarding non-payment of withholding tax that was withdrawn in 2016. Tax notices have caused …

Web Desk — A series of online hearings will be offered by the Federal Board of Revenue (FBR) next month, allowing taxpayers to air grievances and file complaints directly with the tax authorities. On Monday, Chief Commissioner of Inland Revenue Haider Ali Dharijo addressed the Korangi Association of Trade and Industry (Kati) and said that transparency was the top priority, …

The Federal Board of Revenue (FBR) distributed Rs53 million to 1,007 winners under its Point of Sale Prize Scheme on Saturday. The names of winners were announced via a computerized draw, and in this regard, FBR organized a ceremony to announce the names of lucky winners, attended by the Chairman of FBR Muhammad Ashfaq Ahmad and other senior FBR officials. …

Web Desk — The Businessmen Group (BMG) and the Karachi Chamber of Commerce and Industry (KCCI) have demanded that the government should take the stakeholders on board before implementing the Finance (Supplementary) Bill 2021. They noted that the sales tax rate under the Eighth Schedule on branded and packaged milk and dairy products had been increased from 10 per cent …

Web Desk — Asian Development Bank (ADB) country director Yong Ye wished Pakistanis a happy new year and announced a commitment of US$2.3 billion for Pakistan in the outgoing calendar year 2021. “In 2021, Pakistan and ADB achieved a historic high level of cooperation with over $2.3 billion committed so far by ADB,” said the country head for Pakistan in …

Web Desk — Country-wide popular ride-hailing service Bykea is going to offer insurance coverage to all its customers in case of any road accident. The company, keeping in mind the high rate of motorbike accidents and the road safety situation in the country, took this remarkable decision to give a sense of safety to its customers. Research says bikes are …

Web Desk — Jazz has been awarded contracts worth approximately Rs300 million by the Ministry of IT & Telecom (MoITT) through Universal Service Fund (USF) for providing high-speed mobile broadband services on the M3 and M5 motorways, according to a press release. USF’s CEO, Haaris Mahmood Chaudhary, signed the contract with Syed Fakhar Ahmed, its Chief Corporate Regulatory Affairs Officer, …

Web Desk — Pakistan’s economic crisis is worsening every day as electricity will become more expensive and there will be hardly any gas available for household and industry, said renowned finacial and economic expert Ateeq ur Rehman. According to Ateeq ur Rehman revolving debt of gas sector has reached to almost Rs 700 billion and circular debt of electricity sector …