Pakistan’s power sector circular debt has reached close to $10 billion or 3 percent of the country’s gross domestic product due to technical, financial, and governance deficits.The Asian Development Bank’s Technical Assistance report “Pakistan: Develop…

The number of income tax return filers has now reached 2.215 million for the tax year 2023 up to October 15, 2023.Till October 15, the number of return filers is 0.1 million more as compared to the returns filed during the same period of last year, th…

People from different walks of life have welcomed the government’s decision to substantially reduce petroleum prices.People have expressed satisfaction that it is a much-needed relief to counter the adverse effects of high inflation in their daily expe…

The Federal Board of Revenue has asked field formations to take action against those involved in a Rs. 314.8 billion sales tax dummy companies fraud.Sources said the Regional Tax Office-I Karachi in its communication with regard to lodging of FIR agai…

The Competition Commission of Pakistan (CCP) has granted approval to the acquisition of Coca-Cola (Pakistan) under phase-1 review of the Competition Act, 2010, and the Competition (Merger Control) Regulations, 2016.Coca-Cola Içecek (Turkey) acquired a …

Pakistan has the potential to attract remittances of up to $50 billion this year after the government’s measures to streamline the mechanism to curb illegal hawala/hundi channels.This was stated by Faisal Niaz Tirmizi, Ambassador of Pakistan to the UAE…

Pakistan Hotels Developers Limited (PSX: PHDL) has received a Rs. 14.5 billion acquisition offer from the Sindh Institute of Urology and Transplantation (SIUT) for Regent Plaza in Karachi.“This is for the information that the company has received an o…

Atlas Honda has announced an exciting offer for bike enthusiasts who are eager to get their hands on the newly launched Honda CG125s Gold. The bike is available for an eye-watering price of Rs. 292,900, but that’s par for the course considering the hig…

The Ministry of Industries and Production has proposed importing 500,000 metric tons of urea fertilizer for the upcoming Rabi Season amid growing concerns of shortage.Well-informed sources told ProPakistan that an initial import of 200,000 metric tons …

The Directorate General of Customs Valuation Karachi has revised customs values on the import of Woven Interlining Material/ Buckram (Black/White) and Non-Woven Interlining Material/ Buckram (Black/White) from China/Korea for assessment of duties and …