05292016Sun
Last update: Sun, 29 May 2016 10pm

Business & Economy

Pakistan - Business & Economy

Draft of proposals for budget 2016-17 being prepared under Ishaq Dar ISLAMABAD: Federal Minister for Finance Ishaq Dar is heading the discussions for drafting proposals for the upcoming budget 2016-17, which is scheduled to be presented in the second week of June.The mini-budget presented earlier on December 1 is also likely to be merged in the final budget for the fiscal year 2016-17.Rs 40 billion worth taxes that made part of the mini-budget have been added to the new budget plus additional taxes worth Rs 26 billon. Sources said that the parliamentary expenses are expected to be increased by Rs 800 million while a 10 percent to 15 percent rise in the salaries of government employees is also expected.According to a report, the proposals for the budget will be communicated to Prime Minister Nawaz Sharif today (Monday) who is in London for an open heart surgery. The prime minister will give his approval over Skype.Copyright PPI (Pakistan Press International), 2016 ...

Pakistan - Business & Economy

Draft of proposals for budget 2016-17 being prepared under Ishaq Dar ISLAMABAD: Federal Minister for Finance Ishaq Dar is heading the discussions for drafting proposals for the upcoming budget 2016-17, which is scheduled to be presented in the second week of June.The mini-budget presented earlier on December 1 is also likely to be merged in the final budget for the fiscal year 2016-17.Rs 40 billion worth taxes that made part of the mini-budget have been added to the new budget plus additional taxes worth Rs 26 ...

Pakistan - Business & Economy

Local vehicles sales surges to 0.184mn ISLAMABAD: The local vehicle sales in the country have surged to 184,099 units during first 10 months of this year against 142,814 units in same period last year, registering a 29 percent growth.The improved law and order situation, low interest rates, Punjab government's taxi scheme and other economic factors are behind this growth.Market statistics have showed on Sunday that Indus Motors sold 52,987 units during the year - a 1.15 per cent Year on Year ...

Pakistan - Business & Economy

Local vehicles sales surges to 0.184mn ISLAMABAD: The local vehicle sales in the country have surged to 184,099 units during first 10 months of this year against 142,814 units in same period last year, registering a 29 percent growth.The improved law and order situation, low interest rates, Punjab government's taxi scheme and other economic factors are behind this growth.Market statistics have showed on Sunday that Indus Motors sold 52,987 units during the year - a 1.15 per cent Year on Year ...

Pakistan - Business & Economy

Pak-China ties to open new avenues of progress: IIAA ISLAMABAD: Islamabad Industrial Area Association (IIAA) President Faridon Khattak Saturday said friendship between Pakistan and China had transformed into a strategic partnership, which would stood for the development and betterment of humankind.The world would not only marvel at the exemplary ties but would also greatly benefit from them, which would facilitate global peace and stability and open up new avenues of progress and prosperity, he said in a statement issued in connection with the 65th ...

Pakistan - Business & Economy

Complaint lodged against Royal Tv for airing false content : NAB ISLAMABAD: National Accountability Bureau (NAB) on Friday lodged a complaint against Royal TV Channel to Pakistan Electronic Media Regulatory Authority (PEMRA) for airing false and defamatory news against DG NAB Lahore and also NAB as an institution without obtaining official point of view.The Bureau has also served a legal notice to Royal TV for airing such a baseless and false news against Director General NAB, Lahore and NAB as an institution on Thursday (May 26) ...

Pakistan - Business & Economy

Finance Minister discuss budget proposals with FBR ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar here on Friday chaired a meeting with FBR and had detailed discussion with senior officials over finalization of budget proposals encompassing the sphere of income tax.Special Assistant to Prime Minister, Haroon Akhtar Khan was also present.Chairman FBR on the occasion gave an update on the state of revenue collection till date and said it exhibited a positive trend and that target of revenue collection for the current year ...