Date July 31, 2019
DAWN NEWS PAPER
NA panel clears anti-money laundering, forex bills
Names of 3.26m power consumers missing from sales, income tax records
Substantial rise in prices of petroleum products proposed
Offshore tax evaders to face jail time, fines
Power outages mar trade, industrial activities
US hints at greater economic engagement with Pakistan
THE NEWS INTERNATIONAL
FBR to get tax from income received from relatives without cross cheque
Inland movement of foreign currency worth more than $10,000 banned
Govt warns offshore tax evaders of fine, imprisonment
Extension in CNIC condition demanded
BUSINESS RECORDER
Immovable property values: FBR toughens requirement for purchasers
Source must be explained: Remittances exceeding Rs5m not added to taxable income: FBR
Cash gift: FBR explains income from other sources
$10,000 limit for individuals to carry proposed: SBP
Commissioner enjoys powers to conduct banks” audit: FBR
Non-appearance in ATL: Persons to be subjected to 100pc increased rate of tax
Unregistered persons: LCCI for relaxing CNIC condition
JANG NEWS PAPER
Amendments in Income Tax Ordnance 2001, annual income tax exemption fixed at Rs 6 lac
OGRA recommends to enhance raet of petrol Rs 5.15 and diesel by Rs 5.65 per litre
EXPRESS NEWS PAPER
Period of stay of Pakistanis aboard reduced
5% penalty on purchasing property of more than Rs 50 lac in cash. FBR
Proposal to increase petroleum products by Rs 8.90
Date July 30, 2019
DAWN NEWS PAPER
Rains paralyse business in Karachi
China to help fbr reduce misdeclarations
Bedwear exporters reject proposed refund rules
India’s tax rise for high earners may trigger fund flight
THE NEWS INTERNATIONAL
Tax filers up from 1.4m to 2.2m, says FBR Chairman
Debt inquiry commission: details of 400 foreign loans obtained in last 10 years received
BUSINESS RECORDER
Export oriented sectors: TMA urges FBR to set up separate refund mechanism
Zardari accused of obtaining rs1.5bn loans fraudulently
PBEA chief seeks discussion on issue of draft refunds rules
Pakistan’s international rankings
Govt withdraws fed exemption on internet, broadband services
Taxation matters: Pakistan, china to sign MOU: Shabbar
Two categories of small retailers: FBR plans to charge fixed tax rates
JANG NEWS PAPER
EXPRESS NEWS PAPER
Bad news for consumers, electric price likely to enhance
Date July 29, 2019
DAWN NEWS PAPER
Rs200bn to be raised for circular debt payment
Is private-sector lending riskier now?
Pakistan Textile Exporters Association Ad, “Congratulations”
THE NEWS INTERNATIONAL
100,000 non-filers to be put on notice: FBR
BUSINESS RECORDER
Tax year 2018, FBR receives 2.1m income tax returns so far
100,000 non-filers to be issued notices
JANG NEWS PAPER
Non-filers now to be brought under tax net. Shabbar Zaidi
Govt obtained Rs 180 billion 52 crore new loan
EXPRESS NEWS PAPER
5 Days left in filing of tax returns date
Date July 28, 2019
DAWN NEWS PAPER
T.M.A - Towel exports likely to go down
100,000 non-filers to be issued notices
THE NEWS INTERNATIONAL
Business community seeks govt’s attention to address challenges
Discord over reforms likely to frustrate revenue ambition
Import tax revenue up Rs222bln in FY2019
Eidul Azha likely on 13th: Pak Met
Canada includes Pak students in fast track visa plan
BUSINESS RECORDER
5 export-oriented sectors: FBR extends ERS scope
CNIC or NTN requirement: Foreigners to face difficulties if purchases exceed Rs50,000
JANG NEWS PAPER
Govt offset loan by taking loan from commercial bank
Eidul Azha likely on 13th: Pak Met
Canada includes Pak students in fast track visa plan
EXPRESS NEWS PAPER
T.M.A - Sales tax refund rules farmed for export sector
F.B.R sought report on evasion of Rs 1.34 billion sales tax in Lahore
Pakistan’s revenue collection system failed, flaws are also in FBR. World Bank
Date July 27, 2019
DAWN NEWS PAPER
FBR drafts new rules to expedite refund claims processing
Exports to EU remain stagnant despite GSP+
Solar power system prices go up
IMF to select new head by Oct 4
Excise Taxation and Narcotics Advertisement “Taxpayers”
THE NEWS INTERNATIONAL
FBR issues rules for sales tax refunds
Tax collection from salary income falls 43 percent in 2018/19
1,000 sq ft shops to pay 17pc GST
Govt borrows $9.85bln to pay back $8.94bln foreign debt in FY19
SBP extends renewable energy loan scheme
Murad directs KWSB to launch rotation-based system of water supply
BUSINESS RECORDER
Chinese investors told: Government focused on ”ease of doing business”
Dawood says US expected to soften travel advisory up
GSP Plus arrangements in post-Brexit scenario: UK assures continuation of special incentives
Renewable energy: financing scheme extended up to June 30, 2022
Exemption withdrawn: internet, broadband services to pay 19.5 percent SST
Column of profession removed from Passport
JANG NEWS PAPER
Sales tax refund rules issued for 5 sectors including textile
Explanation circular with regard to amendments in finance act, excise duty slab of vehicles released
17% GST to be paid on 1000 square feet shops
Sindh Govt should revisit imposition of 19.5% sales tax on internet. Fawad Choudhry
CNIC condition on purchase of more than Rs.50,000/- will be applicable from 1st August
15% Increase in exports to European Union due to GSP plus
Import duty imposed on import of mobile phone
EXPRESS NEWS PAPER
CNIC condition on purchase of more than Rs.50,000/- will be applicable from 1st August
Import duty imposed on mobile phone, vehicles and imported items
Effective system to keep record of loans not available with Pakistan
One lac Haj pilgrims 24000 sick 13 passed away
Demand made with USA to abolish travel advisory. Razzak Dawood
Date July 26, 2019
DAWN NEWS PAPER
Pakistan discusses economic recovery plans with WB, IMF
SBP seeks to remove confusion over foreign currencies
No new tax on bike, rickshaw: FBR
Karachi Traffic Police, Public Notice
THE NEWS INTERNATIONAL
Govt collects $60m tax on foreign assets declarations
President urges businessmen to use IT to promote business
FBR refutes levying withholding tax on motorcycles, rickshaws
Karachi may receive 60-80mm rain on Monday and Tuesday, warns PMD
Banks likely to pay higher tax on income from papers
Forex reserves fall to $14.862 billion
Cut-off rate of 3-year PIB up 55bps
Biannual filing must be clarified
BUSINESS RECORDER
FBR unveils ”FASTER” for five export sectors
KTBA urges FBR to accept first biannual WHT statement for 4-months
Forex reserves fall by $387 million
JANG NEWS PAPER
Commercial banks refused to provide details of account holders to FBR
Obtaining driving license mad easy at Nazimabad, D.S.P Maqsood Akhtar
Tax not levied on motorcycle and auto rickshaw. FBR
EXPRESS NEWS PAPER
Pakistan’s budget lost its credibility. World Bank
Banks refused to furnish information about accounts holder to FBR
FBR contradicts to levy withholding tax on motorcycle and auto rickshaw
Date July 25, 2019
DAWN NEWS PAPER
Engineering body calls for removal of non-technical persons from key posts
THE NEWS INTERNATIONAL
Budget deficit estimated to be Rs3.3tr in FY 2018-19
FBR appoints new tax commissioners in different cities
BUSINESS RECORDER
Import of plant, machinery: Industries seek clarity on applicability of ‘MVAST’
Switzerland the world”s most-innovative in latest rankings
Poor response to diaspora bonds
Minister clears up CNIC condition for women purchasing goods worth over Rs 50,000
Tax office allows inadmissible input tax of Rs 51.9 million
Pakistan’s economy: 50 years ago
JANG NEWS PAPER
Tax on profit of saving scheme, 2 lac pensioners and widows will be effected
Budget deficit on GDP will be increased by 8.6%. Dr. Hafeez Pasha
People in distress on levy of 30% tax on prize bond amount, demand to take notice
Decision to levy withholding tax on motor cycle and rickshaw
Record increase in Pak-US trade during 2018-2019
New rates of immoveable property
EXPRESS NEWS PAPER
Increase in Govt rates of properties in big cities
Date July 24, 2019
DAWN NEWS PAPER
Property valuation rates for taxation raised in 20 cities
THE NEWS INTERNATIONAL
Shabbar Zaidi briefs ISI on export-oriented sectors
FBR jacks up property valuation rates for 20 cities
Budget deficit of last fiscal may touch Rs3,300 bn
FBR unveils up to 60pc increase in valuations of properties
Govt plans to raise RLNGby 400mmcfd till yearend
BUSINESS RECORDER
20 cities: Values of immovable properties revised upward
SAI calls for input tax inadmissibility in stages
Business community hails Trump’s decision to boost trade ties
Government urged to harmonize labour taxes
JANG NEWS PAPER
Shabbar Zaidi brief’s ISI on Export Sector
Notification issued with valuation of immoveable property in 20 cities
EXPRESS NEWS PAPER
Official rate of property in 20 cities increased by 30%, Karachi at the top
Heat remains constant, rain with thunderstorm on 27th July 2019 likely
Date July 23, 2019
DAWN NEWS PAPER
FBR chief asks banks to provide data about benami accounts
IMF urges Pakistan to mobilise revenue
CNIC mandatory for purchases over Rs50,000
THE NEWS INTERNATIONAL
Pakistan’s exports to South Asia fall 14pc in FY19
IMF says Pakistan committed to bold structural reforms
LTU Karachi collects Rs11.52bln WHT on non-cash banking transactions
Shabbar seeks Benami accounts information within a fortnight
BUSINESS RECORDER
Benami accounts: FBR asks banks to furnish details in 15 days
Unregistered buyers: FBR issues procedure for provision of CNICs
Immovable property valuation rates finalised
Seventh Schedule: SECP unveils revised fee structure for different companies
Monthly FE returns: SBP effects changes in ITRS
‘FPCCI Achievement Awards sheer violation of DGTO order’
NKATI urges SSGC to supply gas at subsidized rates
No change in instruction on purchase of foreign currency notes by banks: SBP
FBR urged to revise automated system for GST registration
JANG NEWS PAPER
Importers agreed to pay sales tax on imported goods
EXPRESS NEWS PAPER
Chairman FBR sought detail of benami accounts from banks
Permission not given to banks to sell and purchase foreign currency. State Bank
Action will be taken on wrong CNIC produced for purchase of above Rs 50,000/-
North Karachi Factories deprived of gas subsidy
F.B.R’s action, money laundering above of Rs 2 billion detected
Date July 22, 2019
DAWN NEWS PAPER
Dejected textile sector needs cheering up
PM lobbies for US investment in Pakistan
Gas network under stress due to low demand
CAA withdraws mandatory baggage wrapping policy
THE NEWS INTERNATIONAL
Pak-US goods trade rests at $6.6 bn
Pak HC invites Canadian businesses to invest in Pakistan
BUSINESS RECORDER
US investors urged to cash in on opportunities
JANG NEWS PAPER
PIA will give 10% concession to senior citizen on fare
Implementation on CNIC condition will be at all cost. Chairman FBR
EXPRESS NEWS PAPER
CNIC condition will be implemented. Chairman FBR
Pakistan exports likely to reach to 36.7 billion dollar during 5 years. IMF
Banks allowed to sell and purchase foreign currency
Date July 21, 2019
DAWN NEWS PAPER
Banks allowed to do foreign currency business with public
Generator sales decline amid improving power supply
THE NEWS INTERNATIONAL
Textile exports down 1.42pc in FY19
SBP revises regulations on foreign exchange operations
BUSINESS RECORDER
New collection setup in the offing: Taxman’s role being curtailed
APTMA opposes imposition of ST on local cotton
‘Top Thai Brands 2019’ expo opens: FTA with Thailand to boost trade, investment: KCCI chief
Flexibility in IMF & FATF stance: PBIF chief pins high hopes on PM’s visit to US
EXPRESS NEWS PAPER
Case of Rs 1.34 billion tax theft pending till 2 years disclosed
Few Chapters of foreign exchange manual revisited
New tariff gas and electricity for export sector likely to come soon
86 consignment of packing material is under investigation against money laundering
Policies adopted for reduced imports is ineffective
Date July 20, 2019
DAWN NEWS PAPER
Consensus must for programme success: IMF
UAE to open Asia’s biggest visa centre in Karachi: envoy
FBR asked to review applicability of taxes on shares, securities
Indian govt seeks $14.5 foreign loans for small firms
THE NEWS INTERNATIONAL
Pak situation needs major shift in economic decision making: IMF
ICCI concerned about 50pc fall in FDI
FBR eyes five million return filers in two years
Customs probes suspected money laundering in imports from China
BUSINESS RECORDER
FDI, Afghanistan likely to be main focus
Aptma raises issue of gas tariff with top officials
Industrialists urged to get extra gas load regularised
President to confer FPCCI achievement awards
Mis-declarations and smuggling
JANG NEWS PAPER
Businessmen involved in selling smuggled goods will be handled strictly. FBR
Aftab Imam made Chief Commissioner of Corporate Regional Tax Office
Decision to establish import export bank for exporters
EXPRESS NEWS PAPER
All have to pay tax, demand to waive off CNIC condition not acceptable. Shabbar Zaidi
Noncooperation of employees, FBR will setup official camp of office to file tax return
Big visa centre will start working in September. Ambassador U.A.E
FBR’s Dr. Aftab Imam appointed Chief Commissioner of Corporate RTO
Industrialists should ensure formal registration of additional connected load. MD SSGCL
Date July 19, 2019
DAWN NEWS PAPER
PM hints at low-cost credit for machinery purchase
Raise revenue, curb smuggling, Zaidi tells taxmen as govt says FBR chief here to stay
Dubai’s big spenders tighten purse strings
THE NEWS INTERNATIONAL
PM’s visit to US: Govt uncertain about seeking tariff concessions
Institutions must ensure rule of law: PM
FPCCI criticises hike in interest rate
‘New industrial policy to prove game-changer’
SECP issues search and seizure rules for property
Naeem says FBR chairman not being changed
FBR begins probe into export losses from mispricing
SECP denies mulling crackdown on companies
Forex reserves rise to $15.249bln
BUSINESS RECORDER
PM meets Punjab businesspeople, vows facilitation
Shabbar not being removed: PM’s Office
Dawood, US-Pak Business Council team discuss trade, investment scope
Uncertainty affecting investment climate: PBIF
IMF staff report on programme risks
FBR chief urges businessmen not to indulge in under-invoicing
Government urged to cut interest rate, power & gas tariffs
JANG NEWS PAPER
Prime Minister visit to U.S, Govt not yet decided regarding concession in tariff
Imran Khan’s speech at Washington, Businessman to bear expense of Rs 58 crore
Chairman FBR Shabbar Zaidi being not removed from post. Naeemul Haq
SECP announced rules of raiding houses and offices
Decision to take action on providing wrong figure of under invoicing and imported materials
Appointment and transfer are routine matter, officials should concentrate on tax collection. FBR
Members FBR Faheem Khan appointed Director General Withholding Tax
EXPRESS NEWS PAPER
Strict action on furnishing wrong figures of under invoicing and imported materials
Date July 18, 2019
DAWN NEWS PAPER
PM urges businessmen to help generate more taxes
Rate hike ignites govt debt market
Current account deficit shrinks 31.7pc
Pak Suzuki has no plans to cut production
THE NEWS INTERNATIONAL
Smuggled items’ sellers opposed to CNIC condition: PM
APTPMA decides to resume business activities
ICCI resents further raise in SBP policy rate
FPCCI’s awards ceremony on 25th
No plan for direct US, Pakistan flights
BUSINESS RECORDER
Steps being taken to end corruption within FBR: PM
17 percent GST, CNIC condition: Government not meeting major demands of businessmen
Agreement with IMF: Government to further increase power tariff by Rs 3.5 per unit
Sindh governor assures business community of resolving problems
PTEA urges govt to address issues of export growth
Towards self-reliant defence capability
JANG NEWS PAPER
8 Million people performed Ummrah current year. Saudi Arabia
1 Million Sims and free Internet gift to Haj pilgrims coming to Mecca
New economic measures and effects of review
EXPRESS NEWS PAPER
Reforms will be done at all cost, back out on pressure of strike will be rebel. Prime Minister
Rs 33.6 billion to be collected against property tax from Karachi planned
Current account deficit reduced by 32% due to low import during 2018-2019
Forfeiting of property to be proved if made through unfair means. Supreme Court
Industrialists and Economic Experts rejects enhanced interest rate
Supply of Gas to Industries be ensured on daily basis. Saleem Parekh
Favourable economic condition awaiting changes
Date July 17 , 2019
DAWN NEWS PAPER
Decision to register traders won’t be withdrawn, cabinet resolves
Interest rate hiked to 13.25pc, highest in eight years
HEC issues final notification to abolish two-year BA/BSc, MA/MSc
New FBR chairman being considered
KCCI talks trade and investment ties with US diplomat
THE NEWS INTERNATIONAL
Govt proposed to raise special force
Shabbar Zaidi declines to become SAPM?
FBR devises plan for field offices to meet Rs5,550 bn target
Freezing gas, power tariffs urged
TDAP to hold Pakistan Pavilion in NY
Stakeholders dub rate hike a big blow to business
PM’s reform panel scrambles for a new cotton price formula
FBR doubles penalty on non-filing of sales tax returns
US keen to expand trade, investment ties: envoy
Pak Motorways Police driving licence will be valid in UAE
BUSINESS RECORDER
Inflation may hit 15pc: Ayesha Pasha
Target rate and O/N repo rate revised
Incoming passengers told, Mobile phones to be cleared as per new rates of duties, taxes: FBR
Policy rate: Is this the peak?
The future of Make in Pakistan
Business environment, US CG’s economic unit chief seeks KCCI input
FPCCI believes in dialogue for resolving issues: VP
Income Tax Ordinance, FBR seeks ministry’s support for implementing Section 181AA
JANG NEWS PAPER
Determine to give all support to investors. Imran Khan
Did Chairman FBR refused to become special assistant?
Tax collection target, FBR prepared implementation plan for field officers
State bank monetary policy is the charge sheet against Govt. Miftah Ismail
Airport charges of plastic coating of travelling kit reduced from Rs 400/- to Rs 50/-
Proposal to levy up to Rs 1500/- tax on graves in Lahore
Economy is on the way of stability?
EXPRESS NEWS PAPER
1/% increase in interest rate, new weave of inflation will come. Governor State Bank
Proposal to explain tax section 37-A to FBR
Govt is suffering more due to increase in interest rate economic experts
17% fixed tax, dialogue on CNIC between Govt and Business Community failed
Date July 16 , 2019
DAWN NEWS PAPER
Chambers and industry alarmed by traders’ strike; support documentation efforts
GDP growth shrinks as twin deficits dampen output: SBP
No power connections for non-filers: FBR
Reshuffle continues in tax machinery
Imported items without retail price tag given clearance
SBP report shines light on food insecurity
Service charges for pre-paid mobile cards withdrawn
THE NEWS INTERNATIONAL
Registration must for all businesses
Economy stabilising despite slow progress: SBP
More LNG supply: Qatar annoyed with Pakistan
FBR chairman writes to Power Division: Non-filers should not get commercial power, gas connections
Hike in interest rate: Debt servicing doubles in last two years
PM convenes FBR meeting tomorrow
FDI falls 50pc to hit five-year low in FY19
SBP stresses deep-rooted structural reforms for economic stability
Eidul Azha to be on August 12, says Fawad
Mobile phones under personal baggage exempted from taxes
SC suspends additional taxes on mobile cards
BUSINESS RECORDER
Stabilization agenda needs to be reinforced: SBP
Inflation outlook remains high
APTMA urges govt to end post-budget uncertainty
Importers, traders agree to pay sales tax at retail price
Mobile phone top-ups, Cellular operators withdraw 10pc service charges
May 15, 2019, Airlines fares increased by 15-20pc
Printing of retail price on imported Third Schedule items, FBR issues sales tax order ‘relief’
Power, gas connections, FBR asks ministry not to entertain unregistered applicants
FBR urged to publicise city-wise data on website
Textile chain of Faisalabad, FBR refuses any relaxation to two major demands
JANG NEWS PAPER
Registration for every business is a must, rate of tax be fixed considering consumers miseries
K-Electric, bill of peak and of peak tariff started issuing, consumers in distress
Decision in country’s history first time to introduce E-commerce Policy
EXPRESS NEWS PAPER
Date July 15 , 2019
DAWN NEWS PAPER
Very few take up offer to whiten money in Bangladesh
THE NEWS INTERNATIONAL
Tax returns’ filing date extended till August 2: FBR chairman
BUSINESS RECORDER
Suspension of ST registration: order is not a question of law but of facts, rules LHC
Need stressed for free access to US markets
Business community accuses FPCCI of playing role of silent spectator
FPCCI hails decision of constructing expo centre in Faisalabad
Will the exports rise? (ever?)
JANG NEWS PAPER
Last date extended to 2nd August for filing tax return
Govt remains back of export target by 5.03 billion dollar. Federal Bureau of Statistics
Important meeting with Prime Minister and his Economic Team
Continuous scratching in throat can be symptom of cancer. British medical research
EXPRESS NEWS PAPER
Govt or Economy? IMF’s bailout package for whom?
State bank will announce new monetary policy tomorrow
Date July 14 , 2019
DAWN NEWS PAPER
Traders protest across country against tax measures
PM`s aide warns traders against blackmailing govt
Govt misses export target by a wide margin
India arrests top executive over unpaid duties
THE NEWS INTERNATIONAL
Govt measures to document economy: Traders observe strike across country
FBR verifies inventory position of businessmen to prevent tax evasion
BUSINESS RECORDER
Not all associations join strike: Traders protest against IMF austerity measures
ICCI hails FBR move to introduce single tax portal for taxpayers
JANG NEWS PAPER
Chinese Investment for Small Industries
Bitter attitude of BOSS may lead to Heart Attack of Employees. Research
EXPRESS NEWS PAPER
New system will be introduced next month for 5 Zero-Rated Sectors
FBR empowered to collect agriculture income tax from politician directly
Formation of single portal for sales taxpayers hailed
Decision to from authority for monitoring Bond manufacturing
Increase in economic miseries of people
Date July 13 , 2019
DAWN NEWS PAPER
Strategy finalised to bring all sectors in tax net: FBR chief
Traders call for nationwide strike today
Traders call for nationwide strike today—Karachi divided
Honda halts production, Indus to follow
Shamshad Akhtar may join cabinet as special assistant
One-window help desk at airport praised
THE NEWS INTERNATIONAL
FBR feared to incur Rs14.4bln in CNG tax losses
Trade deficit contracts 15.3pc to $31.8bln in FY2019
Central bank seen raising interest rate to cap soaring inflation
‘Pakistan-Turkey trade drastically falls to $792mln on heavy duties’
Yarn merchants demand cut in taxes
No political hands involved in traders’ strike: Shabbar Zaidi
Despite two amnesty schemes: Rs318 bn revenue shortfall in FY-2018-19
Reforms in FBR: 503 more officials transferred
Ordinance to bail big GIDC defaulters out
BUSINESS RECORDER
FBR to help ensure liquidity arrangements for exporters
MPC to meet on Tuesday: SBP likely to maintain tight monetary policy stance
Second phase: Major reshuffle in FBR
There”s no deadlock with any sector, says FBR chief
MoM: Exports register major decline
Pak-Turkey FTA: FPCCI chief asks government to consult stakeholders
Plea to withdraw 17 percent ST on domestic weaving industry
LCCI supports business community’s demands
Export-oriented industries: PYMA urges PM to reduce taxes
It’s time to make bold decisions – II
JANG NEWS PAPER
2 Amnesty schemes FBR collected only Rs 3832 billion
Ordinance to waive off Rs 200 billion for Fertilizer, CNG and General Industry
Instruction to make transaction through bank of more than Rs 50 lac against property
Rs 1.2 billion refunded to consumers. K-Electric
State bank announced interest free loan
Danger of Cancer through Soda Drinks, Fruit Juice, Sweet Drinks
EXPRESS NEWS PAPER
No tax levied on edibles, want to fulfill demands on plea of CNIC. Shabbar Zaidi
Trade deficit reached to 15.3% in 2019
Trade deficit recorded 15% less in comparison to last fiscal year
Date July 12 , 2019
DAWN NEWS PAPER
SBP governor says exchange rate reflects demand-supply gap
FBR to launch single tax portal for filers
Chinese industrialists plan $1bn investment
THE NEWS INTERNATIONAL
Shabbar Zaidi says traders’ call not justified: ‘Someone else is behind strike call’
No target agreed with Pakistan on exchange rate: IMF
Economy will improve within a year, says SBP governor
How exporters handed the benefit of devaluation to buyers
Forex reserves stand at $14.259bln
K-Electric adjusts Rs1.2bln in bills
BUSINESS RECORDER
”Things are getting better,” says SBP governor
Staff report includes assumptions: IMF
‘It can be different this time’
Implications of Finance Act 2019 discussed at KTBA seminar
SBP appoints 11 primary dealers
Raw material import: procedure of issuing exemption certificates simplified
Energy prices: Industries take the brunt
JANG NEWS PAPER
Consensus amongst Govt and Business Community needed
EXPRESS NEWS PAPER
Disputed tax polices unacceptable! Businessmen ready for countrywide strike tomorrow
Pakistan’s Economy improvement in Security, Energy Sector. President World Economic Forum
No exchange rate target set with Pakistan. IMF
Filing date of tax return extended
Sales Tax registration via online system not made functional
Challenge of making economy stable
Date July 11 , 2019
DAWN NEWS PAPER
Government unafraid of opposition blackmail: PM
IMF blames PML-N, PTI for inadequate policies
In Karachi, PM rebuffs traders’ concerns, invites textile producers for detailed talks
FBR proposes online system for importers
Remittances rise 9pc to $21.48bn
In a twist, revenue portfolio taken from Hammad
Sindh Bank president among three held in fake accounts case
Minister seeks report on city’s water crisis within 48 hours
Twin cities’ traders to join other cities in shutter-down strike
THE NEWS INTERNATIONAL
17pc sales tax to ruin domestic bulk industry: APTMA
Imran, traders meeting makes no headway
Pakistan receives $991.4mln first IMF loan tranche
FBR set to unveil automated system to issue tax exemption certificates
Federal govt’s major restructuring plan approved
Portfolio of Hammad changed within 24 hours
Traders to observe nationwide strike from 13th
FBR exempts raw materials’ imports from value-added tax
RLNG prices increased up to 4 percent for July
Lobbying going on in FBR to secure positions
Fake accounts scam: NAB arrests Sindh Bank officials
Ikhtiar Baig congratulates PM on amnesty scheme
BUSINESS RECORDER
Textile exporters ‘unimpressed’ after meeting PM: industry sources
SRO 1125(I)/2011 rescinded, Field formations told to ensure strict enforcement
Export-oriented units: FBR decides to withdraw ST, FED exemption
Revenue projections by FBR & IMF: Discrepancy detected
Emergency conditions: Government powers to grant GST zero-rating curtailed
PM holds PML-N, PPP responsible for economic woes
Hammad given Economic Affairs Division portfolio
EFP recognised as Institutional Strategic Partner of CWEIC
Imported items, Collectors told to apply retail price taxation
Electric poles in middle of roads causing traffic accidents: NKATI
Government must reach out to opposition
JANG NEWS PAPER
Businessmen proposed to form task force in F.B.R for actual reform
Businessmen called shutter down strike on Saturday across the country announced
Tax to be paid on one mobile phone brought from abroad, custom officials briefed standing committee
FBR will crackdown on under and over invoicing
New valuation rates of property will be settled during current week
EXPRESS NEWS PAPER
No more dialogue strike on 13 July
Dollar will become of Rs 172.53 up to June 2020. IMF
Decision to form new organization in the name of Regulatory Authority Customs
1st Installment of 99 crore 14 lac dollar from IMF received
Restriction on taking annually 60,000 dollar while going abroad
Sahebzada Aamir Jahangir appointed spokesman of Prime Minister for trade and investment in Europe
Date July 10 , 2019
DAWN NEWS PAPER
NA panel for making ISI, MI nod mandatory for CNIC, passport
Foreign investors’ confidence rises
New structure for international taxes
THE NEWS INTERNATIONAL
Net international reserves stand at negative $17.7 bn: IMF
New industrial policy to create 1.3m jobs: Buzdar
Govt borrowing from SBP soars 119.3 percent in FY2019
‘No agreement with IMF on rupee-dollar parity’
Sales tax collection from imports slips to Rs686.5bln in FY2019
WHT on NSS profits raised 100 percent
PBC urges government to simplify taxation system
Foreign investors appreciate improved security environment in Pakistan
BUSINESS RECORDER
FBR abolishes 42 special procedures notified thru STGOs
Withdrawal of zero-rating facility creates unrest: PHMA
FPCCI chief for negotiating investment treaty with US
New taxation step, tariff hike impedes revival of closed industrial units
NA sub-committee suggests: CNIC be issued only after getting clearance from ISI, MI
Recovery of gold, valuable properties: SECP refutes reports about crackdown against companies
Revenue Division: Hammad Azhar assumes charge as federal minister
SECP directs listed companies, Notice of general meetings must be issued 21 days before
German transport, textiles sectors use short-hours facility most: Ifo
JANG NEWS PAPER
Programme can be suspended if IMF conditions not fulfilled. Governor State Bank
Local Textile Industry will be destroyed by imposing 17% tax, APTMA warns Govt
Notification of enhancement electric tariff 0.10 Paisa per unit issued
ISI, MI’s clearance be obtained for issuance of CNIC and Passport. PAC Sub Committee
Saudi Govt decided to built airport at Macca for Haj and Ummrah pilgrims
Device invented to generate electricity and clean water
Economic Crisis and Tough Decisions
EXPRESS NEWS PAPER
Foreign debts will reach to 130 billion dollar during 4 years. IMF
Prime Minister Imran Khan will visit Karachi today
Zero-rated facility of electricity and gas to 5 sectors abolished
Decision to abolish biometric condition for persons whose thumb impression faded
Date July 09 , 2019
DAWN NEWS PAPER
Traders in Faisalabad keep their businesses shut in protest against sales tax
Steps being taken to check smuggling, says FBR chief
Aptma decries bills at full RLNG tariff
ADB to give $10bn in five years for development projects
Regulatory duties on imports, exchange restrictions to go
THE NEWS INTERNATIONAL
Except on sugar: No new tax levied, no sales tax hiked, says Shabbar
IMF agreement: Electricity prices to be hiked quarterly
Karachi’s improving law and order situation, facts and figures
Traders strike against hike in Sales Tax
APTMA seeks removal of arrears
Withholding agents made responsible to obtain retailers’ information
ADB indicates $10bln lending to support development projects
Weekly SPI inflation up 0.83 percent
‘New products can help boost exports’
Value-added sector warns of closure
Govt-traders face-off: Who will blink first?
BUSINESS RECORDER
Govt urged to revive SRO-1125 to ease business problems
Increase in gas, power rates among prior conditions
ADB to provide $10 billion for uplift projects in five years
Part of deal with IMF: Power tariff to go up again by August end
Declaration scheme: Bank deposits hit all-time high of Rs 14.46 trillion
Units to remain closed indefinitely: APTPMA
Risks to EFF high despite safeguards: IMF
Semi-independent tax authority to be set up: IMF assured
Amended rules of ST registration, New applicants facing problems as no mechanism finalised
Business community, Body will be formed to remove concerns: Shabbar
SSGC’s Operation Grift continues in Sindh, Balochistan
Govt plans multi-pronged strategy to improve gas sector
Reform needs strat.comm. managers
IMF programme targets for 2019-20
Cotton prices up on tight supply of fine quality
JANG NEWS PAPER
No result of discussion with Govt, Textile Processing Industry closed
In different cities traders protest, strike against increased in sales tas
EXPRESS NEWS PAPER
Deadlock between Govt & Textile mills, strike in many cities of Punjab
No new tax imposed, if someone informs I’ll take back. Chairman FBR
Sales tax registration online still inactive
Date July 08 , 2019
DAWN NEWS PAPER
Karachi traders call off three-day strike
Pakistan to get $1.65bn net receipts out of $6bn IMF package
PM wants to avoid pricey hotels during his stay in Washington
THE NEWS INTERNATIONAL
FBR team didn’t raid our mills, says Hammad
Governor Ismail persuades traders to call off strike
Business leader takes FBR chief to task over ghee prices
BUSINESS RECORDER
Commercial and industrial meters: unregistered persons to be issued notices
Karachi traders call off strike after talks with Governor
Recovery of tax demand: RTO Faisalabad’s Jhang Zone brushes aside LHC order
The unnoticed power tariff hike
JANG NEWS PAPER
Traders strike of Karachi differed, dialogue with governor succeeded
17% duty on yarn industry be withdrawn, Jamshoro Chamber
Tax on traders: amicable solution is a must
EXPRESS NEWS PAPER
Strike call withdrawn by Karachi traders alliance, shutter down will be on 13th July at any cost
Restaurant tax evaders of Karachi on FBR radar
Pakistan will get 1st installment of Rs one billion from IMF tomorrow
Petrol and Diesel prices increased in India
World’s powerful passport in the name of Japan and Singapore
Date July 07 , 2019
DAWN NEWS PAPER
Karachi traders announce three-day strike
`Govt trying to introduce uniform sales tax system`
Customs working to reduce container dwell time at ports
THE NEWS INTERNATIONAL
Proposal under consideration: Small shops to pay fixed tax, big according to power bills
10,000 FBR officials to be transferred
FBR finalising new valuation for immovable properties
Traders criticise sales tax on retail price of imported goods
Trade body seeks reversal of certain tax measures
‘Tariff structure being rationalised to ensure competitiveness in global market’
Relaxed SECP seizure rules urged
Sustainable growth means more taxes
BUSINESS RECORDER
Shabbar identifies impediments to industry growth
All SROs relating to zero-rating facility rescinded
Immoveable properties: Old valuation rates applicable till new notification: FBR
Tariff structure being rationalised and streamlined: Dawood
KCCI chief urges PM to withdraw SECP's notification
Economists see country heading towards stagflation
JANG NEWS PAPER
Govt borrowed Rs 2345 billion during current year, State bank’s financial booklet 2019 issued
Export target to China fixed to 2 billion dollar. Abdul Razzak Dawood
EXPRESS NEWS PAPER
Importers refused to pay sales tax on retail price
Increase in cotton price, textile sector effected due to imposition of sales tax
Date July 06 , 2019
DAWN NEWS PAPER
Informer to get 10pc of benami asset’s value: PM
Traders across Punjab protest against budgetary measures
Firms must file transparent financial statements: FBR
India hopes new ‘green’ budget will revive growth
India eyes naming roads, trains after good taxpayers
THE NEWS INTERNATIONAL
Tax amnesty scheme: 70pc beneficiaries are from Karachi, Lahore
FBR asks SECP to ensure correct, transparent statements by companies
Pakistan, IMF work out details of $38 billion financing gap
Business community concerned at CNIC details from buyers
BUSINESS RECORDER
Benami properties: Reward for whistleblowers increased to 10 percent
Importers reluctant to get their consignments cleared
Owner has legal right to challenge FBR”s order: lawyer
Direct selling & marketing bill: MoC seeks trade bodies” suggestions
India raises import tariffs, taxes on super rich
Private limited companies: FBR urges SECP to ensure correct submission of statements
Note on SRB”s Notifications dated June 27 & July 1, 2019
Five exporting sectors urge FBR to formalise ‘informal’ trade
FPCCI leadership blamed for anti-business govt policies
IMF’s pragmatic Pakistan package
JANG NEWS PAPER
FBR Request SECP to ensure preparation of accurate financial statements
70% Persons from Karachi and Lahore got benefit from fresh tax amnesty
More than 1200 officers / officials of FBR changed
Rates issued on 1st February for immovable property imposed FBR
Importers will not be harassed. Chairman FBR
Tax on costly livestock, payment will be made through cheque
Bitter pill and economic health
EXPRESS NEWS PAPER
Decision on large scale transfer in FBR
Smartcard introduced in place of motor vehicle registration books
Likely expectations of economic break through
Date July 05 , 2019
DAWN NEWS PAPER
IMF package to bring $38bn from other creditors
Amnesty scheme draws 137,000 declarants, Rs3tr in assets, claims Hafeez
Govt pays $7.229bn in debt servicing
PM orders massive crackdown on benami assets
Asad Umar-led panel puts off debate in protest against officials’ absence
THE NEWS INTERNATIONAL
Dollar to free float, dearness to climb
Profit rates on savings schemes raised by up to 2.3 percent
Pakistan plans return to global bond market after IMF aid
How this budget hit the rich on the raw
PM asks economic team to take business bodies into confidence
Non-resident Pakistanis have $7.5 bn in their bank accounts
SECP gets powers to conduct raids, seize record
Forex reserves rise to $14.443 billion
BUSINESS RECORDER
Rs three trillion assets declared by 137,000 people
Import of cotton: re-imposition of duty, ST deferred for one month
Search, seizure rules unveiled: SECP”s IOs can enter any premises by force
Withdrawal of zero-rated regime hurting export-oriented industries: KCCI
FPCCI, UBG hail IMF bailout package as ‘good omen’
LCCI felicitates PM, team on success of ADS
Reserves held by SBP, banks reach almost equal level
PSID submitted in banks till July 3, FBR urged to accept declarations of filers
Will the gas price impact be treated right?
Note on changes in the Finance Act, 2019
JANG NEWS PAPER
Sources sought from 16000 parents income paying Rs 2 lac fees children school fees annually
Syed Shakeel appointed Commissioner IR Benami in Karachi Zone-III
EXPRESS NEWS PAPER
Amnesty scheme become successful, 1st time 1 lac people came into tax net. Hafeez Shaikh
IMF approve loan of 6 billion dollar, rupee further stable
Zero rating facility be restored for export sector. Karachi Chamber
Profit of national savings increased by 1%
Pakistan and Bangladesh again imposed restriction on issuance of Visa
FBR sought detail of source of income from parents paying school and college fee Rs 2 lac per month
Federal budget federation ignored objections Karachi business community
Economic issues and ground realities
Date July 04 , 2019
DAWN NEWS PAPER
Textile units shut down amid rising costs
IMF okays $6bn package to ‘foster strong growth’
110,000 declare assets under amnesty scheme
Army chief defends govt’s tough economic measures
Workers criticise federal budget, to observe ‘black day’ on Saturday
A Picture of Textile Unit Closed at Faisalabad
THE NEWS INTERNATIONAL
Corps Commanders Conference: COAS briefs forum on govt’s difficult decisions for economy
IMF approves $6 bn loan for Pakistan
Rs65 billion collected through amnesty scheme
Dubai Duty Free shops now accept Indian rupee
Customs duty collection up 12.9pc to Rs684.4 billion in FY19
Govt urged to delay CNIC condition
BUSINESS RECORDER
Withdrawal of zero-rated facility: textile sector’s cost of production rises by 40pc: PWMA
APTPMA urges govt to continue zero-rated regime for one month
SNGPL takes action against textile dyeing unit
FPCCI chief seeks level playing field for business community
Sale to unregistered person: LCCI seeks relaxation in disclosing CNIC for one year
$6 billion loan approved by IMF board
Amnesty scheme fetches Rs 60 billion so far
Tax payments under amnesty scheme: PTAA voices concern over closure of FBR portal
JANG NEWS PAPER
Textile Processing Industry offered Govt to hold meeting
Amnesty Scheme, more than 1,40,000 availed benefit, more than Rs 65 billion tax collected. FBR
Abdul Hameed Memon of IRS of basic pay scale 21 assumed posting of chief sale tax & F.E.D
Expensive perfumes wastage of money people like natural and cheap fragrance. Experts
America becomes country of producing huge waste
EXPRESS NEWS PAPER
Tax not acceptable textile and leather factories under protest, trader burst into tear
Amnesty scheme ends action begins worth billion of rupees property seized
Recommendation to place 51 names in ECL and delete 16 names
3 systems introduced to return Rs 40,000/- prize bonds
Date July 03 , 2019
DAWN NEWS PAPER
NATIONAL ASSEMBLY HAS 10 DECLARED BILLIONAIRES: ECP
UAE APPROVES FULL FOREIGN OWNERSHIP OF FIRMS
THE NEWS INTERNATIONAL
FIRST TIME IN PAKISTAN: GOVT DOLES OUT RS35 BILLION REFUNDS TO EXPORTERS IN ONE GO
BUSINESS RECORDER
OVER 95,000 AVAIL AMNESTY SCHEME SO FAR: SHABBAR
INDIVIDUALS, AOPS MAY FILE REVISED RETURNS BY AUG 2: FBR
EITHER RESTORE ZERO-RATING REGIME OR SUSPEND OPERATION: LCCI
TEXTILE PROCESSING MILLS’ OPERATIONS REMAIN SUSPENDED
PLEA TO UPGRADE TEXTILE SECTOR
JANG NEWS PAPER
GAS WILL NOT BE MADE COSTLY FOR DOMESTIC CONSUMERS SPOKESMAN PETROLEUM DIVISION
RS 35 BILLION UNDER THREAD OF REFUND 1ST TIME PAID TO EXPORTERS
PAID TAX RETURN CAN BE REVISITED UPTO 2ND AUG
EXPRESS NEWS PAPER
APPROVAL OF LOAN FOR PAKISTAN IMF MEETING WILL BE HELD TODAY
Date July 02 , 2019
DAWN NEWS PAPER
Processing mills on strike against 17pc sales tax
Textile exports stagnate despite incentives
Treasury single account gets going; Benami crackdown zones identified
Traders protest documentation measures in budget
Saudi oil facility on deferred payment begins
Carrying niswar on flights banned
Saudi team arrives to carry out Haj pilgrims’ immigration in Pakistan
Business community seeks govt’s attention to address challenges
Subsidised gas supply sought
Discord over reforms likely to frustrate revenue ambition
Import tax revenue up Rs222bln in FY2019
Eidul Azha likely on 13th: Pak Met
Canada includes Pak students in fast track visa plan
BUSINESS RECORDER
5 export-oriented sectors: FBR extends ERS scope
CNIC or NTN requirement: Foreigners to face difficulties if purchases exceed Rs50,000
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