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Gwadar Free Zone: China assured 23 years sales tax, other exemptions

ISLAMABAD: Pakistan has assured China that it will provide Sales Tax exemption for 23 years and other tax exemptions on equipment and material purchased locally for industrial units established in the Gwadar Free Zone. According to official documents, both Pakistan and China welcomed the progress of the construction of the …

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Punjab moves to register 5.2m small farmers

ALL states, whether developed or developing, subsidise the agriculture sector. Various international and local studies, including the one conducted by the Punjab Economic Research Institute (PERI), find a positive correlation between subsidy and agriculture productivity. In line with global practice, Punjab’s agricultural sector is also subsidised. However, the subsidies are …

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AEDB signs agreement for 11 wind power projects

ISLAMABAD: Alternative Energy Development Board (AEDB) has signed an agreement for the construction of 11 wind power projects which would generate 550 megawatts electricity, ARY News reported on Tuesday. Rana Abdul Jabbar, the chief executive officer of AEDB, signed the agreement with concerned companies to build 11 windmills in Sindh …

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Imran orders formation of special cell for price control

ISLAMABAD: The government appears to have come under increasing pressure over the issue of price hike as Prime Minister Imran Khan on Monday ordered creation of a special cell for integrated planning on demand and supply of essential commodities to control their prices. Soon after the prime minister presided over …

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PM Imran seeks proposal for replacement of FBR

Prime Minister Imran Khan has instructed the Ministry of Finance’s Revenue Division in October to compile and furnish a proposal seeking the replacement of the Federal Board of Revenue (FBR) with a new tax collection body named Pakistan Revenue Authority (PRA), according to the minutes of the meeting obtained by …

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Pakistan’s FATF blues not over yet

ISLAMABAD: Pakistan may remain on the Financial Action Task Force (FATF) grey list for a protracted period, as it may be handed over yet another action plan for implementation for one to three years on the basis of a recently-approved Mutual Evaluation Report (MER), said Federal Minister for Economic Affairs …

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China ready for premature activation of free trade agreement

ISLAMABAD: China has approved the premature activation of the free trade agreement with Pakistan. This will be implemented from December 1. Adviser to Prime Minister on Commerce Abdul Razak Dawood made the statement while addressing a press conference on Friday. The Adviser to PM earlier met with a delegation of …

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Pakistan decides to settle 39-year-old case with Russia

ISLAMABAD: Pakistan would return $93.5 million to Russia as part of arrangements to settle a 39-year-old case involving the two countries. Sources in Foreign Office said Moscow was willing to make huge investment in Steel Mills and Pakistan’s energy sector. The sources further said the Russian government’s hands were tied …

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