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Import of raw material: FBR proposal seeking reduction in ST rate dropped

Wednesday, 23 May 2012 10:33

SOHAIL SARFRAZ ISLAMABAD: The federal government has dropped a major budgetary proposal of the Federal Board of Revenue that seeks to reduce standard rate of 16 percent sales tax to 5 percent on the import of raw materials and inputs in the upcoming budget (2012-13). Sources told Business Recorder here on Tuesday that the proposal for reduction in the sales tax rate from 16 to 5 percent was discussed threadbare at the level of the Ministry of ...

Pakistan suffered Rs100bn loss due to NATO supplies: PAC told

Tuesday, 22 May 2012 23:23

ISLAMABAD: Chairman of the National Highway Authority (NHA) Muhammad Ali Gardezi on Tuesday told the Pubic Accounts Committee (PAC) that Pakistan suffered Rs 100 billion loss due to NATO supplies to Afghanistan via Pakistan but not a single penny was paid to it for repairing the damaged highways. The PAC met here under the chairmanship of Nadeem Afzal Gondal. Members of the committee Abid Sher Ali, Noor Alam Khan, Sardar Ayaz Sadiq, Muhammad Pervaiz malik, Hamid ...

Greece would stay in euro if left wins election: Tsipras

Tuesday, 22 May 2012 19:52

BERLIN: Greece would remain in the eurozone if the radical left were to win upcoming Greek elections, anti-austerity leftist leader Alexis Tsipras said in Berlin on Tuesday. "A vote for the left does not mean that we would leave the euro. Quite the opposite, we would keep the euro," said the leader of the Syriza party, which is tipped to win another round of elections expected on June 17. Copyright AFP (Agence France-Presse), 2012 ...

Drogba to leave Chelsea

Tuesday, 22 May 2012 19:21

LONDON: Newly-crowned European champions Chelsea confirmed on Tuesday that Ivory Coast striker Didier Drogba will leave the club when his contract expires at the end of June. Drogba has been at the London club since 2004, joining from French side Marseille. The 34-year-old scored a late equaliser against Bayern Munich in the Champions League final on Saturday and then converted the decisive penalty in a dramatic shoot-out after extra-time. "I wanted to put an end the speculation and ...

Google closes Motorola deal,names new Motorola CEO

Tuesday, 22 May 2012 18:55

NEW YORK: Google Inc completed its $12.5 billion purchase of Motorola Mobility, and the Web search leader named a new management team for the cellphone maker. Google said on Tuesday that Motorola Chief Executive Sanjay Jha has stepped and has been succeeded by Dennis Woodside, former president of Google's Americas region. Woodside oversaw planning for the Motorola integration, according to Google. The deal close comes just days after the companies gained approval for the acquisition from the ...

ISLAMABAD: Turkish Prime Minister, H. E. Tayyab Erdogan addresses to the Joint Session of the parliament held in Islamabad on Monday. -PPI

Tuesday, 22 May 2012 15:21

ISLAMABAD: Turkish Prime Minister, H. E. Tayyab Erdogan addresses to the Joint Session of the parliament held in Islamabad on Monday. -PPI ...

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