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Monthly Archives: April, 2020

FBR Withdraws 5% Tax on Services of Construction

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The Federal Revenue Board (FBR) has exempted 5% sales tax on the services of construction/land dealers and will now charge zero percent sales tax on services...

Sindh’s MUET Comes up with N-95 Alternative

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Experts at the Mehran University of Engineering and Technology (MUET) are pondering to come up with an alternative of the N95 masks. It aims to facilitate...

Pakistani Rupee Depreciated against Major Currencies

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Pakistan Rupee witnessed a decline against other major currencies in both interbank and open markets on Wednesday. Inter-Bank Market Rates: Pakistan Rupee depreciated by 20 paisas for...

China Provides Pakistan with Additional Aid to Demolish Locusts

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The Director of International Cooperation Department and Chinese Agriculture Ministry Sui Pengfei said at a press conference that the aid containing 300,000 liters of pesticides and...

Government development partners weigh economic impact of Covid-19

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A high-level meeting, chaired by the Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh, Tuesday underlined several challenges the...

Economy faces first-ever contraction since 1951

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For the first time in nearly seven decades, Pakistan’s economy is expected to post a negative growth rate of about 1.6% this fiscal year,...

Remittances Expected to Reach $20-$21 Billion in Current Fiscal: MoF

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The Ministry of Finance has said that the government’s measures announced recently to boost remittances have paid off as they have already reached $17...

Oil Prices Plunge on Brimming Storage, Bleak Recovery Prospects

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Oil prices plummeted on Tuesday for the second day in a row over worries about diminishing global capacity to store more oil and fears that demand...

The United States Enforces New Trade Restrictions on China

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The United States posted amendments to the rules that enforce new restrictions on exports to China including components of civil aircraft and semiconductor-related products. The new rules...

Pakistan’s Exports to the Middle Eastern Countries Raised by 36%

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As per the data released by the Ministry of Commerce, Pakistan’s exports to the gulf countries increased by 36 per cent during the current fiscal year. The...
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