Pakistan Today

ISLAMABAD: The Federal Board of Revenue (FBR) on Wednesday exempted sales tax on the import of medical instruments and equipment for prevention and treatment of the Covid-19 pandemic. According to FBR’s SRO 1257(I)/2020, sales tax exemption has been granted on the import of around 61 Covid-related items with effect from October 1, 2020, till June 30, 2021. On Tuesday, the FBR...

ISLAMABAD: Following a significant reduction in the prices of sugar and wheat, the prices of different varieties of rice have also witnessed a 20pc drop mainly due to an appreciation of Pakistani Rupee and reduction in international demand. Although the reduction in rice prices comes as a relief for local consumers, growers and exporters seemed little concerned about the development. "There...

LAHORE: The Japan International Cooperation Agency (JICA) with the support of the provincial government of Punjab and Asian Chapter of Community World Service (CWS) has distributed 2,800 bags of wheat seed and fertiliser amongst 350 small farmers of Muzaffargarh affected by the recent locust attack. The provincial government and CWS will facilitate around 1000 small farmers including tenants and growers...

ISLAMABAD: Information and Broadcasting Minister Senator Shibli Faraz said on Wednesday that the China-Pakistan Economic Corridor (CPEC) is a win-win project of Pak-China economic cooperation. Addressing a seminar on CPEC in the federal capital on Wednesday, the information minister said that besides diversifying Chinese supply lines, CPEC will prove to be a catalyst for Pakistan's socio-economic development. The minister said that CPEC...

PARIS: Airline revenues this year will plunge by 60 per cent as a result of the coronavirus pandemic which threatens the survival of the industry, the International Air Transport Association said on Tuesday. “The Covid-19 crisis threatens the survival of the air transport industry,” with 2020 likely to go down in history as its worst year ever, IATA said. It said...

ISLAMABAD: The federal cabinet on Tuesday granted a one-time approval to Pakistan Television (PTV) for making payments to Indian broadcasters, allowing the Ministry of Commerce (MoC) to issue a no-objection certificate (NOC) in this regard. The approval has been granted so that PTV may acquire live broadcasting content rights of sports channels owned by India whereas the relaxation would be...

WASHINGTON: A battle between Amazon.com Inc and Reliance Industries Ltd to dominate India’s $1 trillion consumer market is stoking nationalist rhetoric in a courtroom and outside, as the two companies tussle over the future of a distressed local retailer. At the centre of the case is Amazon’s efforts to block Reliance’s planned purchase of Future Group’s assets, saying the Indian...

Prime Minister Imran Khan has directed the ministries for commerce and industries to ensure all necessary support to the textile sector. In his tweets on Wednesday, the prime minister pointed out that Faisalabad textile industry is seeing a massive rise in demand and export orders. He said that his instructions to the relevant ministries are aimed at enabling the textile...

KARACHI: Bulls controlled the Pakistan Stock Exchange (PSX) for the second consecutive session on Wednesday, with the indices accumulating gains all day long amid increase in market volumes. Global equity markets also showed a positive trend, whereas crude oil prices moved further north from the previous close; WTI crude price increasing 1.36pc to $45.50, while Brent crude price rising 1.44pc...

ISLAMABAD: Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood on Wednesday said the first cargo to be trans-shipped to China had been successfully handled at the Gwadar Port by the Ministry of Commerce and Pakistan Customs. "It was a trial run handling 200 MT of fish catch in pursuance of Prime Minister Imran Khan's directive to kick-start operations at the Gwadar Port," the advisor...

LAHORE: The country's auto industry sales are likely to grow 60pc in the current fiscal year (FY2020-21), with total sales expected to clock in at 201,000 units, including those of new entrants Lucky Motor Corporation (formerly KIA Lucky Motors), Hyundai Nishat and used imported cars. "After taking into account higher-than-expected unit sales in the first four months (July-Oct) of FY21...

KARACHI: After over three months of shortlisting, vetting, and deal structuring, Spider Labs has named Jack of Digital as its representative reseller for digital ad fraud detection and reporting tool Spider AF in Pakistan, Bangladesh, and Myanmar.  Backed by The Planet N Group, Jack of Digital is a digital advertising sales partner agency for companies such as programmatic contender Eskimi...

ISLAMABAD: The Sui Southern Gas Company Limited (SSGC) has warned Pakistan Steel Mill Ltd. (PSM) of disconnecting their gas connection if the company fails to pay Rs61 billion in outstanding gas bills. Sources privy to the information told Profit that the SSGC has written a letter to PSM Chairman Aamir Mumtaz in this regard. Sources said that the company's outstanding SSGC...

Recently, I had an opportunity to read Profit Issue #113 and the cover story ‘The discriminatory hiring practices of Islamic Banks: Is this the shape of things to come?’ by Ariba Shahid and Meiryum Ali caught my attention. I was intrigued to read the article since I am associated with an Islamic Bank myself. I noticed that that the piece had...

LONDON/TOKYO: Global shares reached record highs on Wednesday after the Dow Jones broke 30,000, with investors relieved at the prospect of a smooth handover of power after the U.S. presidential election and confident a COVID-19 vaccine would soon be ready. President-elect Joe Biden on Tuesday introduced his foreign policy and national security team after President Donald Trump cleared the way...