In a major policy shift, the government is likely to reduce Regulatory Duties (RDs) and Additional Customs Duties (ACDs) on several items at the import stage through amendments to the tax laws in February 2020. Sources told Business Recorder here o

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Saturday said that strict action will be taken against those involved in wheat flour crisis as Prime Minister Khan has been given a detailed briefing on it. S

Britain began an uncertain future outside the European Union on Saturday after the country greeted the historic end to almost half a century of EU membership with a mixture of joy and sadness. There were celebrations and tears on Friday night as the EU's

Federal Minister for Economic Affairs Hammad Azhar said on Saturday that with currency stabilizing and deficits receding, the country's debt to GDP ratio is projected to decline in coming years. The minister took to Twitter and stated, "Pakistan's public

India sought to boost growth in a federal budget on Saturday that raised spending on farms and expressways and offered cuts in personal taxes, but the measures fell short of market expectations and battered stocks. Prime Minister Narendra Modi's governmen

The Federal Board of Revenue (FBR) has received 2,342,642 income tax returns as on January 31, 2020 for Tax Year 2019 as compared to 1,645,828 returns received for Tax Year 2018, reflecting a growth of 40 percent. According to a statement of the FBR Satur

The national Consumer Price Index (CPI) witnessed an increase of 14.6 percent on year-on-year (YoY) basis in January 2020 against the same period of 2019, monthly review of price indices released by Pakistan Bureau of Statistics (PBS) revealed Saturday.

Chinese Foreign Minister Wang Yi has said that Pakistan's help and support to China in the difficult time view of new coronavirus outbreak had once again highlighted the deep friendship between the two countries.

Pakistani students and community members stranded in Urumqi owing to non-availability of flights in view of the new coronavirus outbreak in China have been granted an 11-day visa extension by the Chinese authorities. All of them have been provided hotel a

Special Assistant to the Prime Minister on Health Dr Zafar Mirza on Saturday said that so far no case has been reported in the country about infection due to coronavirus. SAPM Mirza during a press conference said that all ministries and divisions are on b

Palestinian leader Mahmud Abbas announced Saturday a cut of all ties with Israel and the United States, including security cooperation, after Washington unveiled a controversial Middle East plan seen as favouring Israel. Abbas has made similar declaration

Prime Minister Imran Khan has warned the international community that India's ruling Bhartiya Janata Party (BJP) was preparing to repeat the Myanmar-style genocide and exclusion of its minority Muslim population. He said that as many as 500 million people

United States Special Representative for Afghanistan Reconciliation Zalmay Khalilzad welcomed Pakistan's ongoing efforts to support a reduction in violence and a comprehensive and permanent ceasefire in Afghanistan, the US Embassy said here on Saturday.

A suspected Hindu nationalist opened fire at an anti-government protest in India's capital on Saturday, police said, just days after an armed teenager shot and injured a student at a rally in the same city. The gunman fired into a large crowd of female de

Commerce Ministry's carelessness has reportedly compelled the federal government to consider sugar import option meant to bring down prices which are hovering around Rs 90 per kg in the retail market, well-informed sources told Business Recorder.

Dr Firdous Ashiq Awan, Advisor to the Prime Minister on Information, has stated that the proposed advertising policy is not final and will be finalized in consultation with the APNS and other stakeholders. She invited input from the stakeholders on the pr

Pakistan on Saturday summoned Indian diplomat to register a strong protest on ceasefire violations by the Indian forces. "A senior diplomat from the High Commission of India was summoned to the Foreign Office, Saturday, to register Pakistan's strong prote

The Federal Board of Revenue (FBR) and the World Bank (WB) have started working on designing of strategic plan for Inland Revenue (IR) service. According to official sources, the board is making efforts to improve revenue generation, taxpayers' services a

Just a few days after Prime Minister Imran Khan strongly refuted the reports of any increase in his salary, the members of the Upper House of the Parliament, including those from the ruling PTI, are seeking unprecedented increase in the salaries of the pa

The ministry of National Health Services, Regulations and Coordination issuing new guidelines on Saturday disallowing tobacco advertisement, promotion and sponsorship on all forums of print and electronic media in the country.

Major General Babar Iftikhar has officially taken over as DG-ISPR from Saturday. He was appointed as the new Director-General of Inter-Services Public Public Relations (DG ISPR) earlier this month as Major General Asif Ghafoor completed his term. The offi

How ironic and disturbing it is that internet access was partially restored in most of occupied Jammu & Kashmir on January 25 by India, but service remained slow and social media platforms and many local news websites remain blocked. According to the Kash

In the Israeli Arab town of Umm al-Fahm residents are scared and angry over US President Donald Trump's peace plan which sees them as part of a future Palestinian state. At the same time, the "deal of the century" would give the Israel a green light to an

It needs to be mentioned that the principle contained in Additional Collector-II Sales Tax, Lahore Vs M/s Abdullah Sugar Mills Ltd (2003 SCMR 1026) relied by Division Bench was misplaced, due to wrong inference drawn and after changes in law that are disc

As the Punjab government prepares for local government (LG) elections, to be held before come June, its key ally the PML-Q has expressed reservations about the province's LG law. Moonis Elahi, a prominent leader of the party and son of Punjab Assembly Spe

To an extremist mindset like Indian Prime Minister Narendra Modi's hubris comes easy, as illustrated by the incredible remarks he made at a recent event. Speaking at a national cadet corps ceremony on Tuesday, he claimed that in the case of war Indian tro

Whilst the coronavirus outbreak in China has caused a global scare, some countries have begun flying their citizens out of the country. Pakistani students trapped in Wuhan, the epicenter of the coronavirus epidemic, have also been pleading with Islamabad

The chairman of Peshawar Zalmi, Javed Afridi met with Prime Minister Imran Khan in Islamabad. A press release issued here on Saturday stated that they discussed promoting and strengthening sports in the country. Prime Minister Imran Khan shed light on the

Sugar and cooking oil prices have witnessed a sudden jump from Rs 3,800 per 50-kg bag to Rs 4,025 per 50-kg bag and from Rs 225 per kg to Rs 254 per kg, respectively, a survey conducted by Business Recorder revealed here on Saturday.

Foodpanda, the on-demand international food delivery service, Saturday expanded its operations in Abbottabad by opening up the possibility of ordering a world of exciting food flavours from its distinctive pink colour application.

Former Prime Minister Shahid Khaqan Abbasi has approached the Islamabad High Court (IHC) for grant of post-arrest bail till conclusion of trial of the NAB reference or conclusion of investigations.

Speaker National Assembly, Assad Qaisar Saturday said that Ehsaas Kafaalat Programme launched by Prime Minister Imran Khan reflects the commitment of government to benefit and empower poor women of the country. He was addressing a public gathering after i

The Islamabad High Court (IHC) Saturday issued notices to the secretaries of Ministry of Foreign Affairs and National Health Service regarding measures to evacuate Pakistani students from Wuhan, epicenter of the deadly coronavirus outbreak.

Secretary Information Pakistan Muslim League-Nawaz (PML-N) Marriyum Aurangzeb has said the PTI government should at least hang their heads in shame, if not more, over their confession of crushing Pakistan under Rs 11,610 billion loan over the past 16 mont

Pakistan Peoples Party (PPP) MNA Nafisa Shah Saturday took strong exception to exclusion of 800,000 beneficiaries of Benazir Income Support Program (BISP), saying it is nothing but snatching bread and butter from the have-nots.

The industrial and rural zones of the federal capital have been hotbeds of crime, as the armed dacoits and robbers looted several houses and took away cash, gold ornaments and other valuables in the areas during the last week.

With the establishment of three committees by Prime Minister Imran Khan on 26 January, minus Jahangir Tareen, reservations of the already disgruntled coalition partners clamouring for the government to meet pledges it made in writing have exacerbated.

Punjab Chief Secretary Azam Suleman Khan reviewed strategy for adopting preventive measures against coronavirus and steps to eradicate dengue in the province. Speaking at the meeting held at Civil Secretariat, the chief secretary ordered that proper scree

A delegation of the Faisalabad Chamber of Commerce & Industry (FCCI) will meet Ansar Majeed Khan, Provincial Minister for Labor and Human Resources soon to discuss the issues relating to the upgradation of PESSI Hospital Madina Town in addition to the pro

The Pakistan Hosiery Manufacturers and Exporters Association on Saturday expressed its disappointment over the performance of the Federal Board of Revenue's Fully Automated Sales Tax e-Refund (FASTER) System, calling for a new and foolproof system for ful

An Italian delegation comprising Director Centro for International Studies Gabriele Lacovino and Senior Analyst Fancesca Manenti visited the Lahore Chamber of Commerce and Industry (LCCI).

Pak-US Business Council Founder Chairman Iftikhar Ali Malik on Saturday said that 15 high-level US trade delegations will visit Pakistan this year to enhance trade besides exploring investment avenues in various sectors. Malik disclosed this while talking

Special Assistant to the Prime Minister on Information and Broadcasting Dr Firdous Ashiq Awan on Saturday said maligning his opponents through fake news has been the hallmark of Pakistan Muslim League-Nawaz (PML-N) President Shahbaz Sharif.

Chairman of Senate Standing Committee on Foreign Affairs Senator Mushahid Hussain has proposed the inclusion of Palestine issue to the OIC conference on Kashmir in April in Islamabad. Also, he said Prime Minister of Pakistan, Prime Minister of Malaysia an

Punjab government is marking 5th February 2020 as Kashmir Solidarity Day in a befitting manner to show full commitment to the Kashmir cause. Rallies, seminars and other events would be held to express solidarity with Kashmiri brothers across the province.

The Joint Action Committee of the Faisalabad Trade & Industry has unanimously decided to observe a "Complete traffic jam strike" in Faisalabad on February 10, against the government for acceptance of their demands, including the supply of electricity to i

Chairman, Pakistan Apparel Forum Muhammad Jawed Bilwani has said that the government has failed to refund sales tax claims, under FASTER System, of textile exporters as per commitment to refund claim amount in 72 hours, contrarily the govt has not paid ex

The closure of CNG stations for a longer duration due to non supply of gas by Sui Southern Gas Company (SSGC) has forcing user of CNG vehicle owners to go back to petrol and diesel.

Speakers at an event stressed upon the need of collective efforts by media and civil society to promote tolerance in Pakistan. These views were expressed at the launch of 'Tolerant Pakistan' campaign organised by Positive Media Communication (PMC) at loca

CSR & CSI activist Ateeq Ur Rehman has urged the government to allocate budget for authentic NGOs, health, education and community services. Inaugurating the CSR Summit & Awards 2020, he expressed concern that the financial support to NGOs has declined by

Justice Qazi Faez Isa has said the importance of freedom of speech and expression as well as press can be gauged from the fact that Article 19 of Constitution sets these out as fundamental rights.

Pakistan's overall telecom imports bill surged by 29 percent to $844.657 million in July-Dec 2019-20, official figures say. Increase in the telecom imports reached to the tune of $188.73 million in July-Dec 2019-20 from $655.927 million in July-Dec 2018-1

Chief of the Naval Staff Admiral Zafar Mahmood Abbasi is on an official visit to Indonesia. During the visit, the Naval Chief called on Vice Minister of Defence Sakti Wahyu Trenggono, Chief of Staff of the Indonesian Navy Admiral Siwi Sukma Adji, Commanda

Eighteen - a world-class lifestyle destination - showcased its premium product line at the Zameen Property Expo in Karachi. The appearance marked the third successful one after two successive appearances in 2018 and 2019.

Occasions event planners & organisers organised the fourth edition of its flagship recruitment event, The UNI CORP CAREER CONNECT (UCCC) 2020 - Open for all on Saturday here. UCCC 2020 was hosted by Occasions event planners & organisers in collaboration w

Sindh High Court (SHC) has ordered the Chief Secretary Sindh to complete the work on establishment of modern digital libraries, at least one, in one degree college in every district of the province in three months.

Sindh Livestock Expo 2020 Rally will be held on Sunday. Minister Livestock and Fisheries Engr Abdul Bari Pitafi will lead the fleet of 60 vehicles from Hyderabad to Karachi.

Government of Pakistan has awarded the Petroleum Concession Agreement (PCA) and exploration license over Taung Block (2567-12) to Mari Petroleum Company Limited (MPCL) and Pakistan Oil Fields Limited (POL) on January 31, 2020 with 60 percent and 40 percen

Sindh Minister for Information, Saeed Ghani Saturday said that Governor Sindh has no constitutional authority to dissolve the provincial assembly, adding those who were talking about the authority of the Governor to dissolve the Sindh Assembly should be a

The world's second-largest memory chip maker, South Korea's SK Hynix, posted a 95 percent quarterly profit plunge on Friday as it suffers from a long-running lull in the global market.

Venezuela will begin applying an extra sales tax on purchases of goods using foreign currency under a law approved this week by the government-controlled Constituent Assembly.

China will step up monetary and credit support to enterprises helping its fight against the deadly new coronavirus, the central bank said Saturday, as the disease threatens to further dent a slowing economy.

Beijing announced Saturday that US imports that can be used in China's fight against a deadly new virus will be exempted from retaliatory tariffs imposed in the trade war. The decision comes as China is scrambling to contain the spread of the virus which

Italy must improve its capital markets to help underperforming companies access funding for investment and growth, while giving investors means for more diversified savings portfolios, the OECD said on Friday.

American tech giant Google will ramp up charges to its advertisers to cover the costs of a new Austrian tax, a source close to the company said on Saturday. Austria started imposing a five percent levy from January 1 on online advertising revenues of some

US President Donald Trump on Saturday claimed his polling numbers were up after the Senate paved the way for his acquittal next week on impeachment charges of abuse of power. The Senate on Friday rebuffed Democratic calls for new witnesses at Trump's tria

Nigeria said on Saturday it would cooperate with Washington on visa restrictions slapped by the United States on its citizens and those from five other countries. US President Donald Trump on Friday imposed immigration restrictions on citizens of Nigeria,

Commonwealth nations on Saturday welcomed back the Maldives 40 months after it angrily quit the organisation over criticism of its human rights record under strongman president Abdulla Yameen. The move is a new step in ending the international isolation t

US Secretary of State Mike Pompeo on Saturday called for "real progress" in relations between the United States and Belarus, as he met the country's president Alexander Lukashenko in Minsk. Pompeo raised the fact that it was the first visit to Belarus, a

Iraq's president named former communications minister Mohammad Allawi as the country's new prime minister on Saturday after an 11th-hour consensus among political blocs, but the streets seemed divided on his nomination.

China faced deepening isolation over its coronavirus epidemic on Saturday as the death toll soared to 259, with the United States and Australia leading a growing list of nations to impose extraordinary Chinese travel bans.

Italian payment services group SIA is close to appointing an adviser for a potential Milan stock exchange listing while a tie-up with bigger rival Nexi also remains on the table, two sources close to the matter said on Thursday.

Foreign investors sold Japanese equities for a fourth straight week due to concerns over the coronavirus outbreak in China.

Shares of household goods maker Reynolds Consumer Products weathered market jitters fueled by the spread of the coronavirus to rise 6% in their Nasdaq debut on Friday, marking an optimistic start to the 2020 IPO season.

Wall Street investment banks JPMorgan and Morgan Stanley have been placed on the Hong Kong Stock Exchange's "named and shamed" list after the $300 million initial public offering (IPO) of Chinese biotech company Akeso Inc. was sent back for not meeting th

Indian shares fell on Saturday to their lowest closing level in more than three months after the annual federal budget failed to address key concerns among investors over taxes on long-term capital gains.

Wall Street's major averages tumbled more than 1.5% on Friday, sealing its worst week in six months, as the spreading coronavirus outbreak, coupled with sluggish US economic data and a mixed batch of corporate earnings, fuelled concerns about global growt

A group of central banks on Tuesday said they would discuss creating their own digital currencies - as Facebook prepares to launch a cryptocurrency and China's central bank steps up plans for electronic money.

Speculators' latest net long US dollar positioning rose for a second straight week, according to calculations by Reuters and US Commodity Futures Trading Commission data released on Friday.

Kenya's and Uganda's shillings are expected to gain ground against the dollar in the next week to Thursday, while Tanzania's will hold steady, traders said.

The Canadian dollar fell to a near eight-week low against the greenback on Friday as rising concern about the economic impact of the coronavirus pressured commodity-linked currencies, with the loonie seeing its biggest monthly loss since December 2018.

As Syrians feel the sting of a nosediving currency, local businesses have launched a campaign to sell goods symbolically priced at a single pound to counter a deepening economic crisis.

The safe-haven yen and Swiss franc jumped to multiweek highs on Friday as worries about the global economic impact of the latest coronavirus outbreak in China intensified.

Indonesia plans to set cheaper prices for coal to be sold to future gasification facilities as part of incentives for investors, Energy and Mineral Resources Minister Arifin Tasrif told reporters on Thursday.

A kind of dullness prevailed on the cotton market on Saturday as most of the participants were not very active in the daily business, dealers said.

Chicago Board of Trade corn futures weakened on Thursday as concerns over coronavirus hit commodity markets, traders said.

Asia's gasoline crack extended gains to reach a three-session high of $4.29 a barrel on Thursday as cutbacks in supply lent support.

China's virus outbreak has forced the country's first badminton tournament of the 2020 world tour season to be postponed, organisers said Saturday. The six-day China Masters was due to start on February 25 at Lingshui, in China's southern Hainan island.

Upcoming Muhammad Taha excelled with a solid all-round performance to help Arham CC qualify for the final of the 4th Champions Trophy T20 Cricket Tournament with all 10 wickets victory over strong and oldest Model CC at Al Mansoora Ground on Friday.

The 14th CNS International Squash Championship is scheduled to be held at Roshan Khan Jahangir Khan Squash Complex, Karachi from 4 to 8 February 2020. A total of 23 matches will be played during the championship.

Liverpool surged 22 points clear at the top of the Premier League with a 4-0 win over Southampton as Leicester and Chelsea consolidated their place in the top four in a 2-2 draw at the King Power. Mohamed Salah scored twice as the champions-elect equalled

Off-spinner Bilal Asif, all-rounder Faheem Ashraf and batsman Fawad Alam have been recalled, as a 16-member Pakistan's Test squad was announced on Saturday for the upcoming two Test matches series against Bangladesh. The first Test will be played in Rawal

America's Sofia Kenin stunned two-time Major champion Garbine Muguruza to win the Australian Open on Saturday, completing a surprise run where she has come from nowhere to win her first Grand Slam title.

All timings are in PST (Pakistan Standard Time).

Following currency fluctuations took place in foreign exchange rates during the last year. (January 2 to December 31, 2019).

The prices of different makes and models of cars prevailing in Karachi in the week ended Saturday (February 1, 2020).

Karachi Port's world-wide shipping schedule beginning Saturday (February 1, 2020).

The weather report on Saturday (February 1, 2020) and the forecast for Sunday (February 2, 2020).

Gold and silver rates in rupees per 10 grams prevailing in major cities on Saturday (February 1, 2020).

Official KCA spot rates for local dealings in Pakistan rupees on Saturday (February 1, 2020).