Toyota likely to increase car prices on September 9, 2016KARACHI: Indus Motor Company (IMC), local distributors of Toyota, has hinted that it will increase prices of most of its products in near future. It will follow the top auto assembler of the country, Suzuki, which announced a price rise last month. The IMC held its analyst briefing recently where the company hinted possible price […]
PTA devising system to root out counterfeit mobile phones on June 23, 2016KARACHI: In order to overcome the problems of counterfeit devices and their repercussions, the Pakistan Telecommunications Authority (PTA) is devising a system called Device Identification, Registration and Blocking System (DIRBS). In this regard, the authority has issued a consultation paper highlighting the importance of a proposed system and asked all stakeholders to submit their feedback […]
FBR launches probe into tax evasion by actors on April 14, 2016KARACHI: The Federal Board of Revenue (FBR) has launched an investigation into the alleged tax evasion by TV and film actors Humayun Saeed and Fahad Mustafa, Daily Times has learnt. As part of its ongoing campaign targeting high net-worth individuals, the FBR has asked its intelligence wing, the Directorate General of Investigation and Intelligence, Inland […]
Ufone weakest among CMOs in terms of Internet speed on April 11, 2016KARACHI: Pak Telecom Mobile Limited PTML (Ufone) was the weakest among five telecom operators in a user data throughput (Internet speed) quality test, which was conducted recently in Islamabad, Rawalpindi and Peshawar by the Pakistan Telecommunication Authority (PTA). PTA has recently conducted a survey in Islamabad, Rawalpindi and Peshawar to ascertain whether Next Generation Mobile […]
Benami Transaction (Prohibition) Act : FBR to be granted civil court powers under proposed law on March 22, 2016KARACHI: For the purpose of Benami Transaction (Prohibition) Act 2016, Federal Board of Revenue (FBR) will have the same powers as vested in a civil court under the Code of Civil Procedure 1908, according to the copy of the draft of the act available with Daily Times. The government has introduced the bill in […]
Motorcycle production in Pakistan reaches nearly 2m per annum on March 12, 2016KARACHI: Lack of adequate transportation infrastructure, higher inflation and poor economy made the low-powered vehicles apex priority of Pakistanis as two-wheeler production increased by 10% to 19, 12,944 units in 2015. “Lower oil prices and improved business environment has provided a much needed boost to motorcycle industry in the outgoing year as production went […]
FBR may have access to bank transactions through FIA on March 5, 2016KARACHI: The Federal Board of Revenue (FBR) may have direct access to bank transactions and the central database of banks through the Federal Investigation Agency (FIA), Daily Times learnt on Friday. Qaiser Ahmad Sheikh, chairman of the National Assembly Standing Committee on Finance, Revenue, Economic Affairs, Statistics and Privatisation, has said the committee will […]
WB lauds system, transparency of BISP on December 23, 2015KARACHI: The World Bank (WB) believes that the Benazir Income Support Programme (BISP) is working systematically and transparently and the programme is not supposed to end in future. Senior experts at WB, while answering general queries regarding BISP on Facebook the other day, said this type of programme is not supposed to “end” – as […]
Mobilink assures no job cuts in acquisition of Warid on November 27, 2015KARACHI: Following the first-ever merger of telecom companies in Pakistan, the new owner of Warid, Mobilink has assured that the permanent and contractual workforce of Warid would not be sacked, Daily Times learnt. “Mobilink officials have said that there will no layoffs of Warid employees, as the company want to retain all the Warid’s workers […]
3G, 4G services eating up voice and text revenues on September 11, 2015KARACHI: The introduction of 3G/4G services in Pakistan has disturbed the Cellular Mobile Operators’ (CMOs) voice and text revenues, as it went down by 7% in Fiscal Year 2015 (FY15), Daily Times learnt on Thursday. Reliable industry sources said that despite significant increase in the numbers of 3G/4G subscribers, the CMOs’ revenues went down almost […]