Illegal and smuggled cigarettes cause an annual loss of over Rs 310 billion to Pakistan’s economy, a report by the National University of Science and Technology (NUST) said on Tuesday. At the launch event of the report, Federal Minister of Defence Khawaja Asif boldly claimed that Pakistan could potentially collect
The Competition Commission of Pakistan (CCP) has granted a time-bound exemption on the relevant clauses of product supply agreement between Aramco Trading (ATC) Fujairah FZE Ltd and Gas and Oil Pakistan Ltd (GO Petroleum) for importing and selling Gasoline and diesel products to Pakistan. ATC Fujairah, registered in the United
The Federal Board of Revenue’s (FBR) Intelligence and Investigation Inland Revenue has detected a big Cement company’s supplier involved in fake and flying invoices worth millions of rupees. According to a statement issued by FBR the Directorate of Intelligence and Investigation, Inland Revenue has lodged an FIR before the Special
Overseas Investors Chamber of Commerce and Industry (OICCI), and Shell Pakistan Limited are jointly hosting the Pakistan Energy Symposium. This dynamic event, curated by Nutshell Group, will take place on May 22, 2024, at a local hotel in Islamabad and aims to address the pressing energy challenges and opportunities in
The inquiry committee has identified those responsible for the controversial import of substandard wheat since last year’s regime of the caretakers led by ex-Prime Minister Anwaarulhaq Kakar, high-level sources informed ProPakistani. In a decisive move, Prime Minister Shehbaz Sharif has approved the recommendations of an inquiry committee investigating the import
Finance Minister Muhammad Aurangzeb will present the 2024-25 federal budget in parliament on June 7, 2024. The budget session will initially start on Thursday, June 6, before presenting it in full on Friday (the next day). After Aurangzeb’s budget presentation, the National Assembly will adjourn proceedings for two days and
Power generation in the country went down by 13.7 percent YoY to 8,639 gigawatts per hour (GWh) in April 2024, and down 2.4 percent YoY to 101.089 GWH in 10MFY24 compared to the same period last year. On a month-on-month (MoM) basis, power generation in the country went up by
Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to devise a comprehensive standing operating procedure (SOP) regarding lab tests of the auctioned vehicles by the successful bidders. In this regard, the FTO has issued instructions to the FBR here on Tuesday. The FTO’s order revealed the