By Web Desk — A mobile network operator has been fined Rs30 million by the Pakistan Telecommunications Authority (PTA) for failing to meet the quality of service standards outlined in its license. The order against Pakistan Mobile Communication Limited, commonly known as Jazz, was issued by a panel consisting of PTA Chairman Amir Azeem Bajwa, Member Compliance and Enforcement Dr …

By Web Desk — Several new projects have been launched by the Central Directorate of National Savings (CDNS) to promote digital investment and enhance investment opportunities. “The CDNS is developing digital prize bonds in collaboration with the State Bank of Pakistan (SBP), which will be available through electronic channels on Monday,” a senior CDNS official said. “CDNS is also developing …

Web Desk — In a meeting held on January 24, 2021, in Karachi, the Monetary Policy Committee of the State Bank of Pakistan (SBP) decided to keep the policy rate unchanged at 9.75 percent. SBP’s decision was largely in line with market expectations, where most market participants were expecting SBP to keep its policy rate unchanged While announcing the monetary …

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to exchange company representatives, the FBR is sending them notices regarding non-payment of withholding tax that was withdrawn in 2016.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 …