Shahzad paracha

ISLAMABAD: The loss-causing entity Pakistan International Airlines (PIA) has appointed an ordinary clerk, Kashif Saif, as its Deputy Station Manager Heathrow Airport London as a reward for giving special protocol to Prime Minister Nawaz Sharf and his family. According to available documents with Daily Times the PIA administration has promoted (C-4) Senior Supervisor Kashif Saif […]

ISLAMABAD: The Economic Coordination Committee (ECC) has accorded approval to a proposal seeking transfer of Heavy Mechanical Complex (HMC) to the Strategic Plans Division (SPD). An amount of Rs 500 million was approved to cover necessary expenditure including salaries of the HMC employees by June this year. It was decided in the meeting of the […]

ISLAMABAD: Differences have surfaced between the federal and the Sindh government on the issue of discontinuation of input tax adjustment on provincial services in the finance bill of 2016-17. The matter remains unsolved. A meeting of the Senate Standing Committee on Finance was held at the Parliament House on Monday, which was presided over by […]

ISLAMABAD: The Federal Board of Revenue (FBR) is facing a Rs 387 billion shortfall in revenue collection. The government had set the revenue collection target of Rs 3,104 billion for the financial year 2015-16 and the year is going to close just after 18 days. According to the sources, the FBR has collected Rs 2,717 […]

ISLAMABAD: The members of a parliamentary committee – mandated to finalise the Terms of Reference (ToRs) for a proposed judicial commission, which will investigate the murky deals unearthed by the Panama leaks – are showing a lack of motivation and are skeptical about reaching a consensus on the ToRs. “The committee members are lethargic and […]

ISLAMABAD: The Federal Board of Revenue (FBR) in collaboration with the State Bank of Pakistan (SBP) and the Securities and Exchange Commission of Pakistan (SECP) is working on a new legislation involving offshore companies. FBR spokesperson Dr Iqbal told the media during a briefing about the next year’s budget on Monday that Finance Minister Ishaq […]

ISLAMABAD: Minister for Finance Ishaq Dar has said that a team of the Federal Board of Revenue (FBR) will hold two-day parleys with Swiss authorities on the Swiss bank accounts of Pakistani nationals in Bern from June 23. “The government has directed the State Bank of Pakistan (SBP), the Securities Exchange Commission of Pakistan (SECP) […]

ISLAMABAD: The federal government imposed Rs 300 billion new taxes in the federal budget, which was presented on Friday. The government has imposed new taxes on hundreds of items, including mobile phones, cigarettes, cement, mineral water, paan and security papers.To meet the expenses of the war against terrorism, it is proposed that the Super Tax […]

ISLAMABAD: Tax Reforms Commission has given its recommendations in which it suggested to form a new tax authority in consultation with provinces to increase the tax net in the country. The Senate Standing Committee on Finance met at Parliament House on Wednesday with Salim Mandviwala Chairman of the Committee in the chair. During the meeting […]

ISLAMABAD: After failing to achieve almost all financial targets in the current fiscal year, the federal government will present the Economic Survey for FY 2015-16 tomorrow (Thursday). The incumbent PML-N government was struggling to achieve several economic targets in the third consecutive year. Documents available with Daily Times show that the government has once again […]