NEPRA approves Rs12 cut in tariff for K-Electric consumers on May 23, 2016KARACHI: The National Electric Power Regulatory Authority (NEPRA) on Monday approved a Rs 12.207 per unit cut in power tariff for K-Electric Limited (KEL) consumers under fuel price adjustment. This cut in tariff for the month of March 2016 would be adjusted in the billing month of June 2016. Earlier, the KEL had proposed a […]
Telenor providing weakest internet speed in Karachi on May 13, 2016KARACHI: Pakistan Telecommunication Authority (PTA) revealed on Friday that Telenor Pakistan has poorest internet speed in Pakistan’s biggest city while the company provides pathetic internet services in Lahore as well. PTA conducted survey using NEMO Invext-I in Islamabad, Rawalpindi, Peshawar, Lahore and Karachi while it had already released results of the survey of Rawalpindi, Islamabad […]
Gold demand grows amid improved security condition on May 12, 2016KARACHI: Improved security conditions in Pakistan have pushed gold’s consumer demand significantly up by 13 percent in first quarter of 2016 as compared to same period of last year. According to statistics on global gold demand released by the World Gold Council (WGC) on Thursday, gold’s consumer demand in Pakistan clocked up at 9.4 tonnes […]
Sales tax registration : FBR devises SOPs for physical verification on April 30, 2016KARACHI: In order to streamline and expedite the process of physical verification for sales tax registration, the Federal Board of Revenue (FBR) has devised standard operating procedures (SOPs) including mandatory biometric verification of taxpayer, Daily Times has learnt. According to a copy of standing order available with this scribe, the taxpayer shall visit IRIS Counter […]
Increasing energy crisis pushes generators import up by 42% on April 28, 2016KARACHI: Despite claims by the government of bringing improvement in energy shortage, power generating machinery’s demand soared as the Pakistan spent $Rs139 billion on import of machinery during July-March of current fiscal, showing 42% growth over same period of last fiscal. The nation consumed Rs 94.5 billion worth of imported power generating machinery in first […]
FBR gets crucial information about 30 builders, developers on April 26, 2016 KARACHI: The significant information of thirty major real estate builders and developers, obtained through a tax raid on top real estate marketing firm by Federal Board of Revenue (FBR), can lead to tax recovery worth of billions from construction sector, Daily Times has learnt. The efforts of FBR officers to bring big fishes under […]
Sindh govt reluctant to nominate IPO policy board members on April 21, 2016KARACHI: The Sindh government’s apathetic attitude towards nomination of three members for the policy board of the Intellectual Property Organisation (IPO) of Pakistan is hindering completion of the board, Daily Times has learnt. As per details, in a bid to complete the strength of the policy board of the IPO of Pakistan, the federal government […]
Use of contraceptives increase in AJK, FATA: PBS report on April 21, 2016KARACHI: The use of birth control products witnessed an increase in Azad Jammu and Kashmir (AJK) and Federally Administered Tribal Areas (FATA) by 43.7% and 2.9%, respectively for 2014-15 compared with 2013-14, according to a contraceptive performance report prepared by the Pakistan Bureau of Statistics (PBS) for 2014-15. According to the PBS, Pakistan Tehrik-e-Insaf (PTI)-led […]
FBR detects tax evasion of Rs 300 million by Mobilink on April 18, 2016KARACHI: A deliberate attempt to evade duty/taxes worth of around Rs 300 million by Pakistan Mobile Company Ltd (Mobilink) has been detected by the Federal Board of Revenue (FBR), Daily Times has learnt. “Mobilink has imported ‘Lead Acid VRLA Batteries for Telephone Exchanges’ and tried to evade duties/taxes by misdeclaring these multi-purpose batteries under incorrect […]
FBR probes eight large companies on alleged tax evasion on April 8, 2016KARACHI: The Federal Board of Revenue (FBR) Intelligence Wing has completed tax evasion investigations in eight large companies including Trade Key, worth billions of rupees, and has advised the concerned departments to initiate departmental proceedings, Daily Times has learnt on Friday. Sources said that FBR had asked Directorate General of Investigation and Intelligence, Inland Revenue […]