Business

Federal Finance Minister Shaukat Tarin clarified on Friday that there would be no tax on internet usage and SMS, while 75 paisa would be collected in tax for every mobile phone call exceeding the duration of five minutes. He added that visually-impaired mobile phone users would be exempted from taxes on handsets. Tarin announced these changes to proposals in the …

LAHORE: Subsidised Indian rice is damaging Pakistan’s exports and the government must take up the issue with the World Trade Organisation (WTO) against New Delhi for “jeopardising international food security in violation of its rules,” a representative of local rice traders said on Thursday. Pakistan rice exports, both Basmati and coarse varieties, during July 2020 to May 2021 (11MFY21) are …

ISLAMABAD: Special Assistant to the Prime Minister Dr Sania Nishtar informed an international conference on Thursday that Ehsaas welfare programme had been geared to promote equality and healthy food security and ensure social protection. She said Ehsaas covered all main aspects of the human development of which healthy diet is a core component. Nutrition, therefore, was an important part of …

ISLAMABAD: The government appears to have made up its mind to facilitate a new LNG terminal replacing an existing one for maintenance to avoid international litigation and probe reasons behind delayed decision-making in contract management and fix responsibility. Informed sources told that based on deliberations of a meeting presided over by Prime Minister Imran Khan, the minister for law and …

ISLAMABAD: The Senate Standing Committee on National Food Security and Research has described the government allocation of Rs12 billion for agriculture as ‘totally insufficient’ as the sector contributes 19 per cent to GDP and employs 38pc of the country’s total labour force. The committee at its meeting chaired by Senator Syed Muzaffar Hussain Shah on Wednesday emphasised the need for …

KARACHI: Industrialists on Wednesday reacted strongly to complete suspension of gas supply by the Sui Southern Gas Company Limited (SSGCL) to non-export industries in the city followed by a 50 per cent cut to captive power units. The SSGCL senior management on Wednesday informed a delegation of seven industrial associations that it was facing a shortfall of 170 million cubic …

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet kept on approving technical supplementary grants just a couple of days ahead of expected approval of the federal budget later this week. Presided over by Finance Minister Shaukat Tarin, the ECC was called without any other agenda except to approve five technical supplementary grants (TSG) having total allocation of Rs9.856bn. The …

ISLAMABAD: Flour millers on Wednesday linked calling off strike with a written clarification from the Federal Board of Revenue (FBR) that no change is made in the existing tax regime. Pakistan Flour Mills Association (PFMA) has already announced plans to go on a two-day strike from June 24 as a protest against budget measures proposing a hike in income tax …

ISLAMABAD: The Senate Standing Committee on Finance on Tuesday concluded its deliberations on Finance Bill 2021 and recommended to the government to suspend the collection of export cess for three years to minimise impact of Covid-19 on export industries. The committee meeting chaired by Senator Talha Mahmood approved a proposal to transfer the export development funds to the ministry of …

LAHORE: The flour millers on Tuesday threatened to go on a two-day token strike starting from Thursday (tomorrow) unless the federal government withdraws 17pc sales tax on choker and restores the previous rate of 0.25pc turnover tax. Addressing a press conference here, the provincial chief of the Pakistan Flour Mills Association, Asim Raza, said the millers would stop wheat washing …