The Federal Board of Revenue (SBR) will launch an automated ‘Point of Sale’ (POS) system for all mega retailer outlets and shopping malls   to bring them into registration in order to avoid tax evasion, stated in a tweet by Chairman FBR Shabbar Zaidi. The computerized machines will be installed at mega retail stores […]

The federal cabinet has approved the first-ever National Tariff Policy (NTP) developed by the Commerce Division after extensive consultations with the stakeholders. The policy is aimed at ensuring transparency, predictability and institutionalizing the entire tariff structure in the country. The draft, approved by the prime minister, would be presented to the federal cabinet for its […]

  The International Monetary Fund (IMF) has rejected the government’s request for a downward revision in the revenue target of 5.5 trillion for the ongoing fiscal year, however, efforts will continue to convince them. FBR Chairman Shabbar Zaidi said, “We are hopeful that IMF will consider our request”   The IMF delegation led by Herald […]

The Sindh Investment Department has established the Doing Business Reforms Implementation Unit in an effort to improve and undertake further reforms to facilitate the launch and running of businesses in the province. The dedicated unit will coordinate with all related government functionaries, private-sector organisations and other business stakeholders so that anyone who wants to start […]

Finja, Pakistan’s leading digital lending platform with an integrated payment ecosystem, announced that it had closed a convertible note funding round of $3 Million USD led by BeeNext and Quona Capital with previous investor Vostok Emerging Finance also participating again. The note was oversubscribed. In other big news, Finja has won key regulatory approvals through […]

The United States of America (USA) remained the top export destination of Pakistani products during the first quarter of financial year (2019-20), followed by China and the United Kingdom (UK). The total exports to US during July-September (2019-20) were recorded at $1053.630 million against the exports of $1004.641 million during July-September (2018-19), showing an increase […]

Scaptox will host DataCon Pakistan 2019 on 14th November, 2019 at Marriott Hotel, Karachi. The one day conference will bring together senior executives and professionals from different sectors to address key issues and challenges within data governance. DataCon Pakistan will see international and local industry experts from various industries discuss challenges within data governance such […]

After restoring strategic relations with Russia, Pakistan is all set to solve its long-pending trade dispute worth $117 million with Moscow, as it allowed Pakistani Ambassador to Russia to ink an inter-governmental agreement with Russia. Sources privy to the development informed that the federal cabinet in its meeting on 29th October had considered a Commerce […]

Analysts provided wide valuation estimates for Saudi Aramco, ranging between $1.2 trillion and $2.3 trillion, fund managers who have seen research notes said, as the oil giant kick-started its initial public offering (IPO) on the local bourse. Bank analysts started showing IPO research to fund managers soon after Aramco, the world’s most profitable company, on […]

Prime Minister Imran Khan has approved an ambitious three-year plan to conduct nationwide surveys for tax assessment, evaluating wealth parked in real estate and implementing a new value added tax system. The plan, which was approved days before the government succumbed to pressure exerted by traders, also includes setting up the Pakistan Revenue Authority by […]