Date: June 30, 2020
DAWN NEWS PAPER
Finance bill sees 30 amendments
IPPs reluctant to produce power on expensive diesel
No stakeholder takes responsibility for Karachi power woes
Bank holidayFBR decides to pay duty drawbacks on FIFO basis
PBC stresses bilateral trade agreement instead of FTA with Turkey
Foreigners invest $66 million in Pakistan’s debt market in June
ECO-CCI zooms in on COVID crisis
PIA cuts fares, to charge Rs12,000 for all domestic destinations
Bank holidayMajor amendments made in Finance Bill 2020
FBR to implement tax relief measures from July 1
Duty drawback to be paid to exporters on FIFO basis
SBP revising regulatory limits on consumer financing
Government may waive penalty on imported goods to be cleared by 30th
FPCCI seeks withdrawal of abrupt hike in POL prices
Industrialists voice concern over 8-hour-long loadshedding
Islamic banking deposits expand market share to 17 percent
Karachi's future power requirements: Ministry urged to maintain regular liaison with K-Electric
Cotton spot rate raises by Rs 100 to Rs 8200
Gold prices increase by Rs 1600 per tola
Anomalies in the federal budgetTextile firms export health products to recoup losses
Dawood discusses reforms for business
Finance Bill 2020: NA approves major tax relief
Rupee sinks to all-time low at 168.18
EXPRESS NEWS PAPER
Cost of Cotton reached on its peak during current season
Pakistani rupee further depreciated, dollar exceeded from 168
Modern laboratory set up in Abbasi Shaheed Hospital for free of cost Corona testDate: June 29, 2020
DAWN NEWS PAPER
RLNG diversion to power sector leaves textile sector in the lurch
Need for R&DAll set to declare zero-rated cos as export-oriented sectors
FPCCI lambastes govt over increase in POL prices
KATI chief condemns increase in POL prices
Export-oriented units in Punjab, PLGMEA seeks exemption from lockdown on Saturdays
Weekly Cotton Review, Bullish trend witnessed
Voluntary Declaration of Domestic Assets Act of 2018, Beneficiaries being questioned by FBR?
POL products: massive price riseThe inexorable choice, Increasing savings and productivity only recipe for healthy economic growth
EXPRESS NEWS PAPERRecession may enhanced as compared to estimate. IMF
Corona symptoms passengers not allowed for air travelDate: June 28, 2020
DAWN NEWS PAPER
Masses, business community lash out at govt for POL price hike
Chinese seeds to enhance cotton crop yield, says food minister
PLGMEA urges working Saturdays, double shiftsFood ministry seeks proposals to improve lint output
Faltering economyPOL products, Govt explains increase in prices
Discos formally start unscheduled load-shedding
2019-20, FBR shares ST exemption method
Exemptions stand at 37pc of tax expenditure
State apparatus, FBR spells out cost of income tax exemptions, concessions
KCCI chief expresses concern over KE’s poor performance
Govt criticised for increasing prices of POL products
Prices remain stable on cotton marketPTI govt decides to introduce more tax concessions in Finance Bill before final voting
Pakistani industrialists decry hike in POL prices
'Loadshedding adding extra burden on already suffering economy'Govt decided to provide further concession in tax to industrialists
APTMA welcomed reduction in interest rate
Rejected the price increased of petroleum products
Karachi Chamber showed concern on prolong load-shedding
In open currency market, dollar reached at 168Date: June 27, 2020
DAWN NEWS PAPER
Five-year trade policy finalised
Karachi industry hit by massive loadshedding
Electricity users suffer as stakeholders play blame game
Record hike in prices of oil products notified
Governor’s intervention may bring respite for power-starved city
Interest rate surpriseBusinesses want ‘big’ rate cut in one go to rev up economy
‘Pakistan focusing on export diversification’
Pakistan receives $1.725bln from IFIs this week
FBR to observe extended working hours
Record hike in petroleum prices
Energy ministry, KE play blame game as outages intensify
KE’s board voices concern about power supply issues
Electricity crisis to be overcome in two days, KE assures governor Imran Ismail
China pulls out of KE’s buyout dealGovt optimistic about FY21 tax collection target
SBP extends EFS limits to individual exporters
Inflation increases 0.15pc on WoW
FBR detects revenue loss due to misuse of tax expenditures
Nepra decides to “expose” certain Discos
Load-shedding in Karachi, Hurdle to taking additional power from national grid identified
Erstwhile tribal areas, FBR suffers loss of Rs4,454.21m from IT relief
Cotton spot rate increases by Rs100 to Rs8100
Karachiites continue to suffer power outages amid Covid-19 outbreak
Archroma to introduce new thickener for sanitizing gels
SSGC: GAS Supply closure Sunday Industrial & Captive PowerFCCI demands extension in return filing date
Capacity payments projected at Rs1.5tr
PTI govt increases petrol price by Rs25 per litre
Centre to provide additional 500MW to KE, denies fuel shortage claim
Traders oppose gas price hikeProlonged load-shedding is serious joke with peoples & industrialists
Karachi Chamber showed unsatisfied on slight reduction in interest rate
Mian Anjum Nisar welcomed the reduction of 1% in interest rate
Dollar value enhanced in open marketDate: June 26, 2020
DAWN NEWS PAPER
Rs6.2bn released to textile sector
SSGC seeks price increase, enrages industry
Tax exemptions on official perks cost Rs30bn in 2019, says FBR
Interest rate cut by 100 basis points to 7pc
SBP reserves fall $145.9mTax office alleged of ‘harassing’ businessmen
State Bank cuts interest rate by 100bps to ease virus-led downturn
Forex reserves fall to $16.730blnMills, exporters buying old and new stock of cotton
Textiles sector, Razak announces Rs6.2bn release under DLTL
OGRA holds public hearing, SSGC provided Rs190bn relief to consumers
FPCCI’s business council’s elections, Arshad Jamal expresses reservations
LCCI seeks extension in tax amnesty scheme
NKATI leaders urge PM to order reduction in gas tariff
KATI chief urges KE to end loadshedding
Export-oriented units: PRGMEA seeks lockdown exemption on Saturdays
Seminar told, Pakistan ranks 106th among 119 countries in Global Hunger Index
SBP cuts policy rate by 100bps to 7pc
FY 2019-2020, GDP growth rate may remain lower than -0.4pc
SBP must take a pausePakistani exporters seek permission for two shifts
Foreign exchange: SBP reserves fall $146m to $9.96b
SBP cuts policy rate by 100 bps to 7%Losses of power distribution companies may be shift extra burden to the consumers. Haroon Shamsi
6.2 billion Further released for Textile sector
Closure of industry is not solution to prevent covid-19. Ismail Sattar
Due to Corona, Fly Dubai suspended their flights for PakistanDate: June 25, 2020
DAWN NEWS PAPER
IMF lowers country’s growth forecast to 1pc
Consumer groups oppose move to hike gas prices by 110pc
Goods imports enjoy most sales tax exemptions
Current account posts $13m surplus
Emirates service suspension comes after 30 passengers from Pakistan test positive
Power outages, water shortage spark protests in different areas
Tax exemptionsTextile industry seeks incentives to boost exports
Current account deficit narrows 74pc in July-May
Tax collection from exports up 23pc in July-May
Worst economic crisis for a century: Corona cripples global businesses
To comply with FATF conditions, Pakistan needs to amend foreign exchange laws within three months
Global virus death toll nears half a million
Covid-19 threat: Emirates suspends flights from PakistanPower sector, Govt to make consumers pay for ‘inefficiency’: TMAP
Power tariff, Plans being made to shift entire circular debt to masses: PBIF
FPCCI urges govt to arrest surge in value of dollar
Closure of industry no solution to controlling Covid-19 but an economic suicide: Suttar
Ogra urged to reduce gas tariff by 40pc
K-Electric facing over 550MW shortfall
IMF revises FY21 growth rate target downward to 1pc
Emirates suspends flights after passengers test positive
Intending Hajj pilgrims to get refund money: Qadri
Gold prices touch another historic highPakistan's textile industry opposes debt surcharge
Pakistan's current account turns into surplus
PTI govt abandons K-Electric’s coal project
Gold surges to historic high at Rs105,100 per tolaDate: June 24, 2020
DAWN NEWS PAPER
First detailed view on tax exemptions emerges
Govt aiming for 4-4.5pc growth over next three years
China soy buyers ask exporters to guarantee coronavirus-free cargoes
Saudi Arabia to allow around 1,000 pilgrims in scaled-down Haj
Emirates suspends passenger services from Pakistan for a few daysGlobal trade set to shrink 18.5 percent in Q2: WTO
LTU refrains from ‘strict’ action to meet revenue target
Rupee falls to 2.5-month low of 167.7 on unceasing outflows
SRB extends return filing date
Rs10 per kg increase in LPG price
Gas companies to provide over 0.55million new connections
Rising coronavirus infections seen worldwideS Arabia to allow around 1,000 to perform Hajj
Review of Finance Bill 2020, Exporters urge NA body chairman to invite stakeholders
Removal of anomalies in Finance Bill 2020, FBR may submit reports to Hafeez today
Global trade set to shrink 18.5pc in Q2: WTO
K-Electric’s petition, Nepra puts off public hearin
Gwadar Port Authority, Amendments to customs law approved by Senate body
Deadline for payment of Sindh ST extended
FCA: Chawla surprised over sudden postponement of hearing by NEPRA
Prices of LPG cylinders increased
No demands of IPPs without forensic auditing first: EFPGwadar agreement: Senate body backs 40-year tax break
Global trade to shrink 18.5% in Q2: WTO
NEPRA to investigate load-shedding in Karachi
Gold hits new high as rupee dropsDemanded to restoration of 10% tax credit on purchase of new machinery
Rupees under pressure, Dollar reached Rs.168Date: June 23, 2020
DAWN NEWS PAPER
Saudi Arabia to hold `very limited` Haj this year
WHO warns of `accelerating` pandemic
Gold scales new peak of Rs102,000 per tolaCorona pandemic limits numbers: Haj only for local, resident pilgrims
Centre stands by its commitment to K-IV water project: Asad Umar
Revenue target unrealistic in recession; no focus on economic priorities: FPCCI
PCDMA protests against finished goods schedule
APTMA demands smooth FO supply
Anti Covid driveSenate body informed, Tax machinery confident about target prospects
PCDMA chief condemns more duties for commercial importers
Covid-19 pandemic, Federal budget does not focus on changing economic priorities: FPCCI
Govt urged to extend tenure of trade bodies
Extended hours, LTUs/CRTOs/RTOs to remain open on 29th & 30th
KE advises precaution during summer
Business remains stable on cotton market
Key features of budget 2020-21
Burdening the consumer for system inefficienciesForeign pilgrims barred from Hajj this year
Textile industry demands resumption of oil supply
FBR waives surcharge on warehouses
SSGC ends LPG contract with JJVL
Gold hits 1-month peak as rising virus cases bolster demandDifferences reached on peak in FPCCI
Chemical & Dyer Merchant Association showed concern
Rs.300 to 400 cost enhanced per 40kg of cotton
Due to Corona in the world, death reached 469220Date: June 22, 2020
DAWN NEWS PAPER
Panel calls for mechanism to cut gas losses
Get serious about exports and remittances$10 bn TAPI gas pipeline project fails to achieve financial closure
Tips for protection of elderly, People above 50 years constitute 72pc of all Covid-19 deaths in PakistanGovt urged to provide relief for ginning industry
GST should be reduced to 14pc: KCCI
FY 2020-21, FTAs, PTAs cause over Rs45bn loss
Analysing PKR’s parity with USD
Weekly Cotton Review, Increasing trend in prices witnessedDate: June 21, 2020
DAWN NEWS PAPER
Pakistan`s $2.41bn debt payments to be rescheduled
Cabinet approves furnace oil imports for KE
Labour & Human Resources Department Govt of Sindh Ad “Rules Regarding Employees During Lockdowns”Tax collection from debt investment up 85pc to Rs4.1bln in July-May
Weekly SPI inflation up 1.02pc
Rupee likely to gain next week
Labour & Human Resources Department Govt of Sindh Ad “Rules Regarding Employees During Lockdowns”Restoration of zero-rated regime for five major export sectors urged
Fuel shortfall behind current power situation: K-Electric
FBR issues new indicators to evaluate performance of tax officials
Prices of essential kitchen items go up
Govt of Pakistan “Ad”IT to help Pakistan promote trade with Canada
EXPRESS NEWS PAPER
Labour & Human Resources Department Govt of Sindh Ad “Rules Regarding Employees During Lockdowns”
S.S.G.C. “AD”Date: June 20, 2020
DAWN NEWS PAPER
1,400MW additional electricity for Karachi approved
Pakistan’s fiscal deficit to widen in FY21: Fitch
FDI falls for third consecutive month in May
International flights resume today
‘Ring of Fire’ eclipse to wrap Earth tomorrowPakistan signs $1.5b loan accords with WB, ADB, AIIB
Govt automates tax return assessment in major policy shift
Extension in ST deadline urged
FDI jumps 90.6pc to $2.401bln in 11 months
Banks sanction Rs107.5bln loans under SBP Rozgar Scheme
Foreign investors find budget in conflict with ease of doing business
Fitch says Pakistan’s budget goal overly ambitious
In Pakistan, pandemic could push millions more into poverty
Billionaires get $583 bn richer since coronavirus began
Coronavirus pandemic in new and dangerous phase: WHOFederal budget envisages Rs50bn tax refunds
Targets not easy to attain: Fitch Ratings
Financing agreements worth $1,500m signed with three IFIs
WHO warns world in ‘new and dangerous phase’ of pandemic
Filing of ST return, FPCCI urges FBR to extend deadline
Business remains stable on cotton market
NBP branches, Banking hours to be extended on 30th
Gold hits all-time highBusinessmen demand swift steps to avert crisis
Pakistan faces tough road ahead
FDI surges 91% to $2.4b in July-May
CCOE okays additional 350MW for K-Electric
New SOPs issued for govt officesEXPRESS NEWS PAPER
From July to May, foreign investment in country $1 billion 87 cror
Demand to extend last date of filing of sales tax return
Dollar reached 167.20 in open marketDate: June 19, 2020
DAWN NEWS PAPER
AIIB approves $500m loan for Pakistan’s Covid-19 response
Govt moves law to pass circular debt to consumers
Amazon asked to register 38 exporters from Pakistan
Manufacturing plunges 41pc in April
Industry decries turnover tax regime
Pakistan likely to hold economic growth: ADB
Lockdown in several city areas notifiedSenate body casts doubts on transparency in budget-making
Big industry contracts 42pc in April
KTBA seeks payment extension in amnesty scheme
‘Timely efforts eased COVID-19 impacts on remittances’
Govt mulling over change of guards at FBR, State Bank?
Tier-1 retailers say FBR backtracked from tax concession
First time in history: FBR collects less taxes than previous year, says Sindh CM Murad Ali Shah
Pakistan sends 38 exporters’ names to Amazon for registration
Accords with Chinese Cos to boost industrial growth
To prepare bureaucracy for new challenges: Govt mulling over creating National Executive Service
Effective implementation of smart lockdown fails on very first day
Pakistan 13th among most corona infections‘Anomalies’ in Finance Bill identified
ADB projects 2pc growth rate for FY21
None of incentives suggested by PCMA incorporated in budget: chairman
Foreign nationals, Validity of all types of visas extended
Smart lockdown begins across KarachiPakistan registers sellers with Amazon
Pakistan economy to grow 2% in next fiscal year: ADB
Foreigners in Pakistan get visa extension till Aug 31
Govt urged to restore zero rating
EXPRESS NEWS PAPER
Historical reduction in Industrial production due to lockdown
Dollar reached to 166.60 in open market
Problems of Economic Zones of CPEC will resolve. Board of InvestmentDate: June 18, 2020
DAWN NEWS PAPER
BUDGET 2020-21: Sindh reduces ADP to Rs232.9bn
Budget 2020-21: No new taxes as Sindh presents Rs1.24tr budget KARACHI: Budgeting on hope
Govt of Pakistan “Ad”Tax exemptions cause Rs1.15tr loss in outgoing fiscal
Taxpayers asked to pay outstanding tax amount by 30th
Rs1.94bn earmarked for Karachi’s mega projects in 2020-21 budget
ECC augments loss coverage for SME loans to prevent layoffs
PYMA opposes 2.5 percent additional RD on yarn
LCCI asks to cut energy prices
Treasury bills’ yields decline on rate cut expectations
Sindh slashes ADP 25pc to Rs155bln amid pandemic losses
Lockdown means business in socially distanced Pakistan: Google survey‘Liquidity crunch, shrinking global business to hit textile industry’
Imported raw materials, PYMA disappointed over non-provision of relief
Industries need low-cost energy: LCCI
KCA decreases spot rate by Rs300 in three days to Rs8000
WB explains why exports crucial to recovery
SBP scheme aimed at preventing lay-offs approved by ECC
Broadening of tax base, Govt decides to use data of Discos, telecom cos
FBR forms two committees, Anomalies in Finance Bill to be identifiedRupee hits 2-month low against dollar
EXPRESS NEWS PAPER
Smart Lockdown going to imposed from today’s 7:00pm of specific areas of Karachi
20 Years tax relief has given to Gawader port operators
In Cotton Markets, price of cotton enhanced
Yarn Merchant Association shows disappointed on budget
For Business Entities, loan scheme will be introduced
Likely to start Monsoon in Karachi after 20th JuneDate: June 17, 2020
DAWN NEWS PAPER
Textile exports tumble 36.5pc in May
Sialkot Chamber calls for relief package
Amnesty 2019 applicants asked to pay taxes, surcharge
Number of jobless people to reach 6.65m in 2020-21
Sindh govt imposes ‘smart lockdown’ in province’s select areasTextile exports surge 86pc in May as lockdown eases
Tax bar demands withdrawal of illegal audit notices
FBR warns action against ‘laggard’ asset declarants
Gas companies seek increase in tariff by Rs85-623 per mmbtu
In the name of Gwadar Port: 40-year tax exemption to companies rejected
First COVID-19 wave expected to peak by end of July, start of August: experts
First steroid drug hailed as major breakthrough in Covid-19 treatment
Cabinet fixes Remdesivir’s price at Rs10,873/100mg vial
For first time in modern history: Saudi Arabia expected to cancel this year’s Haj
Ministry of National Health Services Regulation & Coordination Govt of Pakistan & NDMA “AD”Export-oriented sector ignored in budget: prgmea chief
Revival of economy, Public-private partnership a great solution: KATI chief
Budget presented sans any taxation steps for first time: FBR
Assets Declaration Scheme, 2019, FBR issues reminder to taxpayers
Cotton spot rate further down by Rs100 to Rs8100
Dexamethasone ‘proves’ first life-saving drug
Supply of lifesaving drugs halted, chemists fear shortage
Saudi Arabia faces perilous Hajj call as virus spikes
BUDGET BRIEFING 2020, Comments on Finance Bill 2020–IISaudi Arabia yet to decide on Hajj as virus cases spike
PTI govt writes off Rs90b income tax
Business council terms Budget 2020-21 balanced
CALL FOR ACTION: ICICI urges cut in electricity priceYear 2019-20: given exemption of 90 billion on A/c of Income Tax
NAKATI Welcome, duty free import of industry raw material
Constituted committee to remove anomalies in finance bill 2020Date: June 16, 2020
DAWN NEWS PAPER
Budget 2020-21: Rs56bn tax relief for small businesses in Punjab budget
Budget 2020-21: Rs56 billion tax relief for corona-hit businesses
Banks resilient to Covid-19: SBP
Eidul Azha to be celebrated on July 31, predicts ministerBanking sector to remain resilient to COVID-19: State Bank
Taxpayers barred from revising wealth statement after disclosure
China's industrial output continues slow recovery from virus hit
Smarter lockdown returns to 20 cities
Rupee ends weakerAPTMA says budget has failed to address critical issues
Textile export industry terms budget one-sided, unrealistic
Export sector, NKATI chief says govt should give maximum relief
Finance Bill 2020: Body formed to address ‘anomalies’
LCCI welcomes Punjab budget, sees maximum relief
OGRA urged to hold hearing to determine ERR of gas cos
Shops, factories sealed over SOPs violation in Faisalabad
Cotton spot rate down by Rs100 to Rs8200
68 officials test positive, one dies, Customs House becomes hot spot for Covid-19
SECP’s loan rescheduling permission to NBMFCs benefits 0.9m borrowers
Covid-19 pandemic, FSR CY-19 highlights resilience of banking sector
Overstating the GDP growth rate
Budget FY21, real and perceived constraints
BUDGET BRIEFING 2020, Comments on Finance Bill 2020–IPakistan's textile sector rejects ‘unrealistic’ Budget 2020-21
Regional Tax Office gives 3-year salary in reward
Punjab brings ride-hailing apps under sales tax netBudget will create unemployment & closure of industry
Future of cotton ginning industries in doldrums
Eid-ul-Azha will be on Friday, 31 July. Federal Minister Fawad ChaudhriDate: June 15, 2020
DAWN NEWS PAPER
Murad to present Sindh budget for 2020-21 on 17th
Uncertainties and aspirationsSindh budget to be presented on Wednesday
Over Rs2.22tr Punjab budget today
Locusts to cause up to Rs2,451 bn loss
Post-pandemic economyBudget 2020-21 reaction, Demands, proposals of textile export sector ignored in budget: exporters
Companies Act 2017, ‘Amendments introduced after due consideration by SECP’
CM to present Sindh budget on Wednesday
Weekly Cotton Review, Trading in new crop starts
Punjab budget to be unveiled today
Country cannot afford to borrow more: Hafeez
Death, taxes and FBR shortfall
Finance Bill 2020, Not a single SECP proposal incorporated
Comments on FY2020-21 BudgetBudget overruns – an indicator of poor fiscal management
Budget disappointment spans sectors
Punjab govt readies Rs2.2tr outlayForeign investors are coming in country. Abdul Razzaq Dawood
In the Universities, its compulsory to recite Quran with translation
Due to Covid-19, Global supply chain changed
World first 3D Eye preparedDate: June 14, 2020
DAWN NEWS PAPER
Textile, auto sectors disappointed with lack of incentives in budget
Amendments aim to increase tax compliance
Govt takes notice of shortage of life-saving drugs
Covid-19 pushing millions of South Asians into poverty
Budget without a planAPTMA for 5-year export policy
New cotton trade starts partially
KE seeks to recover Rs2.26 billion from consumers under FCA
Budget lacks out of box solutions to jumpstart economy: EFP
PBC sees mini-budget to follow ‘unrealistic goals’
Rs212bln lost to tax exemptions last fiscal year
Fresh virus cluster: Parts of Beijing under lockdown, curfewNo relief for textile industry in budget, say industrialists
Hafeez hints at adjustments in budget
FBR’s access to databases of Nadra, others, Proposed amendment could be illegal
Budget lacks initiative to accelerate business activities: PIAF
Budget lacks out-of-the-box solutions to jump-start economy: Suttar
PBIF chief curious over 27pc boost in revenue
Business of new cotton crop starts
Salaried class not required to submit ‘Taxpayer’s profile’ to FBR
Seasonal monsoon to be 10pc above normal: MetTextile exporters feel deprived of relief
Rs25 billion allocated for attracting US dollars
Govt admits tax target unachievable
Remittances rise 4.6% in May Despite pandemic
Country warned of serious water crisisFederal budget industry friendly, no relief for traders
Annual inflation rate again enhanced & reached 8.49%
Death rate increased due to diseases, space end in the graveyardsDate: June 13, 2020
DAWN NEWS PAPER
Budget fails to impress industry
Budget 2020-21: Budget aims for trillion rupee tax revenue hike with ‘no new taxes’
BUDGET 2020-21: Finance bill shows all relief, no clear revenue plan
SBP profits to drive non-tax revenues in FY21
Growth target set at 2.1pcBusiness community disappointed as industries ignored
Industrialists warn of massive job losses
‘Best budget in prevailing circumstances’
‘Exporters expected to face challenging environment ahead’
Subsidies slashed by 40pc to Rs209 bn for next fiscal
FBR proposes mandatory tax profile filing
PTI 2nd budget: Historic deficit, no new taxes
The Budget and a ‘mini’ Budget? News Analysis
'Revise customs valuation rules'
Rupee strengthensRs4,963bn fixed as revenue collection target
Rs209bn earmarked for subsidies
Return filers to submit 'Taxpayer Profile' electronically
Supplies by retailers, CNIC made mandatory for transactions above Rs100,000
Withholding agents to file WHT statements on quarterly basis
Budget offers nothing to SMEs, says KATI chief
Traders, exporters term budget disappointing, mere lip service
Teli says federal budget 'by no means a relief budget'
PLGMEA terms federal budget 'overall satisfactory'
FPCCI fails to resolve problems of business community: Mian Adrees
Saarc chamber nominations, Business groups to battle it out
Listless business witnessed on cotton market
KP business community rejects Budget 2020-21
'Tax Information Processing Unit', FBR withdraws order for establishment
FBR introduces concept of 'agreed assessment' for taxpayers
Taxpayers allowed to withdraw cases from any court
Several amendments made in Income Tax Ordinance 2001
Budget Speech 2020-21No major relief for export sector
Govt imposes Rs200b worth of additional taxes
Govt slashes subsidy budget by 23% for FY21
PSDP cut as Covid-19 eats up resourcesSubsidy on Electricity slashed 50% for Karachi in Budget
Federal Budget – Extra Tax imposed Rs.200 billion
Demand of Tax Free Budget not fulfill, Traders mix reaction
No doubt situation is very challenging. Abdul Razzaq DawoodDate: June 12, 2020
DAWN NEWS PAPER
Hafeez blames Covid-19 for Rs3 trillion GDP loss
Budgeting in the time of corona
Another 10m likely to slip below poverty line
Economic Survey depicts dismal picture of climate change impacts
Economic survey 2019-20: V-shaped recovery highly likely
Total public debt jumps to 88pc of GDP
Tax exemptions cost kitty Rs1.15tr
Large-scale industrial output shrinks 5.4pc
Economic survey 2019-20: Energy sector bottlenecks mar business activity
‘Higher interest rate slowed down the economy’
External trade hit by pandemic
Covid-19 impact on revenues estimated at Rs899bnTextile industry seeks continuation of energy package
Tariff structure rationalised for 30,000 raw materials, intermediary goods
LTU tax collection grows 5pc to 1.1trln in July-May
Forex reserves fall to $16.705bln
Pakistan’s power generation capacity increases to 35,975MW
Govt sets to present over Rs8tr budget amid corona crisis
Economic Survey 2019-2020: Corona hampering economic progress
Economic Survey: Complete shutdown to cost 18.53m jobs
Global Peace Index 2020: World peacefulness deterioratesCovid-19 inflicts Rs3trn loss on economy: Hafeez
Tax exemptions, concessions cost govt Rs1,150bn
Import of 1636 items, ACD to be abolished in FY21 budge
High energy prices add to the cost of doing business
Export target seems hard to reach
July to March, Public debt up by Rs2.499trn to Rs35.207trn
Per capita income witnesses decline
LSM registers negative growth of -2.28pc
Jul-Apr 2019-2020, CPI-based inflation jumps to 11.22pc
Foreign reserves down by $266m to $10.095bn
BQATI urges SBP to extend banking hours
E-commerce platform launched to develop export markets
Leather sector, PTA hopeful of revival of zero-rated status
Cotton trade likely to resume soon
Economic Survey 2019-20PTI govt gives Rs1.15tr in tax break
Corrective measures jolt Pakistan's manufacturing sector
Pakistan’s exports on downward trajectory
Covid-19 shock may increase Pakistan's debt-to-GDP ratio
SBP reserves fall $266m to $10.1bRs.7600 billion budget will present today
Enhanced in Corona cases & deaths, Sindh Govt again thinking regarding lockdown
Across the World, Sales Tax in single digit. Sohail Hameed
Demand of restoration of Sales Tax under the SRO-1125Date: June 11, 2020
DAWN NEWS PAPER
Stringent measures for non-filers in upcoming budget
Govt seeks $375m to upgrade Discos
ADB okays $500m loan to Pakistan
Fed confirms rate to remain at zero
Traders violating Covid-19 restrictions warned of on-the-spot heavy fines, seizure of assets
Pakistan among six nations with upward virus trends
Europe to accelerate trials of gene-engineered Covid-19 vaccines
Etihad resumes flights from PakistanState Bank proposes abolishing WHT on cash withdrawal
FBR loses Rs30bln sales tax on POL products in four months
State Bank assures uniform definition of SMEs under refinancing scheme
Flexible budget & stiff austerity
Car sales plunge by 75 percent in May amid lockdown
Global coronavirus death toll crosses 415,000
Budget and the GDPPakistan among latest countries to secure debt moratorium
Pakistan ranked 15th among most-affected nations
Govt tables Tax Laws (Amend) Ord & four bills in NA
Rs96bn disbursed under refinance scheme: SBP governor
NKATI chief calls for imposing sales tax at retail stage
Shops and markets violating SOPs to be sealed: CS
Tax-related issues of banking industry, SBP proposals under consideration
Business activity remains stable on cotton market
Dollar falls broadly in Europe
The challenge of tax revenue target
Setting FBR target for FY2020-21
Economic policy choices beyond immediate crisis — IIIGovt may levy GST on more goods
SBP says aware of SMEs difficulties
Concrete steps needed to revive SMEs
Chamber demands special relief package
Virus to slice at least 6% off world economy
ADB approves $500m emergency loan for Pakistan
Car sales dive 75% owing to Covid-19
SESSI head office closed after outbreak
SSGC takes steps to combat UFGBudget approval - Federal cabinet special meeting will be held tomorrow
Sales Tax should imposed on basic level, suggestion of Industrialists
Corona - SBP set up special webpage
Under the refinancing scheme 96 billion has been distributed. Raza BaqirDate: June 10, 2020
DAWN NEWS PAPER
WHO urges two-week lockdown, more tests
Action over ‘artificial shortage of petrol’ ordered
2,000 tariff lines may see duty cuts
Expenditure freeze, revenue target of Rs4.95tr agreed with IMF
Fuel pricing on quarterly basis sought
Federal govt planning megaprojects for Sindh, meeting told
Emirates resumes flights from Pakistan after two monthsFBR resorts to strict measures to meet FY2020 revenue target
Govt to face tough task of mobilising revenue in corona budget
Restoration of zero rating urged
Corona growth fastest in Pakistan
World Bank predicts Pakistan DGP growth at -0.2pc next fiscal
The 10 most expensive cities in world just became pricierPM urged to save export-oriented industries from collapse
Textile industry, PCMA urges govt to remove major obstacles
PBIF chief says export industry of Sialkot should be bailed out
LCCI for 24/7 industrial operations to fetch export revenue
Cotton spot rate remains unchanged
NEC to approve 2.1pc growth target today
Rs4.95trn revenue target being set for FY21
Coronavirus pandemic, Call to evolve comprehensive strategy
Immovable properties, FBR intends to raise valuation rates
WHO recommends ‘intermittent lockdown’
‘Artificial’ shortage of petrol, Cabinet orders ‘maximum’ punitive action
Pre-requisites for a competitive textile sectorFBR seeks WHT on foreign currency
SSGC fails to reduce UFG losses
LCCI seeks nod for 24/7 industrial operation
‘Artificial’ petrol shortage irks federal cabinet
Pakistanis shift to internet, mobile bankingDate: June 09, 2020
DAWN NEWS PAPER
National Economic Council called to set next year’s growth target at 2.1pc
Large gap between govt and IMF on revenues
Sialkot-based exporters demand relief
Mobile subscribers hit 89m by 2019 end: studyGovt likely to extend refunds limit to Rs50 million/taxpayer
State Bank wants growth-inducing policies for recovery
OICCI advises stimuli for long-term investment post pandemic
Customs duty collection falls 23pc in May
‘Withdraw limit to retain, invest export earnings abroad’
Karachi to receive additional 1400MW by 2023: Asad Umar
Govt fails to achieve cotton target, PA told
Saudi Arabia considers limiting Haj amid corona pandemic
Pandemic drives broadest economic collapse in 150 years: World BankSales tax to be major source of revenue: Dawood
Export-oriented textile industry, APTMA demands cut in gas tariff by 35-40pc
Govt urged to cut expenses, support industries
Promotion of export, PBC identifies some key issues
It’s going to be a relief budget, advisor assures KCCI
EFP seeks 40pc cut in gas tariff for industries
Income Tax Ordinance, 2001, Govt may review different time-limitation provisions
KE prepared to meet industrial consumers’ demand: official
Karachi to get additional 1400MW electricity by 2023: Umar
Cotton spot rate falls by Rs100 to Rs8300
World Bank’s latest Global Economic Prospects report, Covid-19 drives broadest collapse since 1870
Saudi Arabia considers limiting Hajj pilgrimsTextile mills demand 35-40% cut in gas tariff
Shaikh promises relief in budget
PBC to promote Pakistan brandsComing Budget will be Traders friendly & provide relief. Finance Advisor
Demanded to reduce Gas tariff immediately for 5 Exports Sector
Farmer in a fix due to decision of not to start new Cotton ginning season
Established of E-Commerce platform for enhance of Business between Pakistan & ChinaDate: June 08, 2020
DAWN NEWS PAPER
Petrol pricing likely to be deregulated
Annual budget: a useless exercise
PHMA & PDMEA Ad, “APPEAL”SBP forex reserves deplete by $1.7 bn
Not a single drop of water added to Karachi’s supply despite population increase: PTIHammad likely to present budget on 12th
PRGMEA submits budget proposals
Budget 2020-21, Govt should act upon exporters’ proposals, suggestions: PHMA
Weekly Cotton Review, Market witnesses slow trade
‘Economic revival can’t be possible sans increase tax collection’
Companies, Finance Bill 2020 may address min tax on turnover
NCOC launches Covid-19 mobile App
Pre-budget 2020-21 random thoughts — II
APTMA Ad, “APPEAL”Improving trade balance with China
Corona and lockdown of global economy
'Karachi receives just 3% of water available to Sindh'Federal Budget has ready of deficit Rs.3000 billon
Bank consumers do not share personal information on phone. SBP
Water crises is big problem for Karachi, Federal intervene. Firdous ShamimDate: June 07, 2020
DAWN NEWS PAPER
Pakistan saw highest inflation in the world during 2020: SBP
GOVT OF PAKISTAN, “Ad”Govt yet to clear 60pc of exporters’ sales tax refunds: PHMA
PTBA recommends abolishing minimum tax for two years
Tax realities versus business expectations
Sindh collects Rs68.941bln taxes in 11 months
Rupee strength tied to restoration of IMF’s loan program
Budget to be finalised tomorrow with more focus on health sector
A new tax modelGovt to constitute ‘Data Protection Authority’
POL products’ shortage, Blame laid at the door of ECC
Cotton business likely to resume in middle of JuneFBR to release Rs5m in refunds next week
Consumers receive inflated gas bills
On POL products: PTI govt mulls Rs20 per litre GST
NADRA, local govt department to install database links in UCsProposed to imposed per litre Rs.20 GST on Petroleum product
Emirates announced to resume their flight operation to 29 citiesDate: June 06, 2020
DAWN NEWS PAPER
RECORD NUMBER OF COVID-19 CASES, DEATHS IN 24 HOURS
RAZAK DIRECTS TO ACCELERATE EASE OF DOING BUSINESS REFORMS
PAKISTAN HAS SUFFERED RS2.5TR LOSS BECAUSE OF COVID-19GOVT TELLS EXPORT INDUSTRY: NO RESTORATION OF ZERO-RATING REGIME
PAKISTAN’S EXPORTS TO JAPAN DROP 15.9PC IN Q1
TAX COLLECTION ON NON-CASH TRANSACTIONS PLUNGES 50PC
PCDMA DEMANDS FIXED TAX REGIME3M JOBS COULD BE LOST IN ‘INITIAL ROUND’
RLNG/ELECTRICITY FOR TEXTILE SECTOR
BALGAMWALA URGES PM TO RESTORE FIXED TAX REGIME, SRO 1125
FPCCI VOICES CONCERN OVER LIMITING OF INCOME TAX REFUNDS TO RS5M
EMIRATES POST RESUMES SERVICES TO PAKISTAN
LCCI SUBMITS BUDGET PROPOSALS FOR FY2020-21GSP-PLUS FACILITY TO CONTINUE TILL 2023, SENATE TOLD
BUDGET 2020-21: GOVT MAY LINK NADRA DATA WITH FBR
REGULATOR ORDERS OMCS TO SLASH HOBC PRICEGOVT. CONSIDER TO SHARE NADRA RECORD WITH FBR FOR HIDDEN ASSET
PROBLEM OF INDUSTRIALIST WILL RESOLVE (PERWAIZ AHMED)Date: June 05, 2020
DAWN NEWS PAPER
PM asks ministry to ensure revival of lockdown-hit industries
Two commercial centres, 22 industrial units and over 100 shops sealed
Exports fall again in May, but recover from April low
Reserves down on $1.7bn debt paymentsTrade deficit narrows 35pc in May on resurging exports
FBR faces uphill task to meet annual revenue target
NTU Faisalabad, industrial partner make low-cost bulletproof vests
KCCI seeks across-the-board relief
Forex reserves fall $1.818bln to $16.920bln in May
Unemployment rate to surge to 9.56pc in 2020-21
Emirates to resume scheduled flights to PakistanExports register massive decline
Textile sector, Govt urged to improve cash liquidity
Zero-rating for increasing formalisation
Impact of Covid-19 on economy, Businessmen promised a level playing field
Teli, Shahab ask govt to give relief to all sectors of economy
Restoration of zero-rating regime, Sialkot’s exporters reiterate demand
Country may receive 10pc more rains
Cotton spot rate remains unchanged
Forex reserves decline to $10.362bn
Emirates to resume flights from Karachi, Lahore and IslamabadLiquidity woes keep Pakistan's exports in check
Trade deficit shrinks 35% to $1.46b
Unemployment jumps to 8.53% in second year of PTI govt
Pakistan may receive 10% extra rain this yearEmirates announced to resume their flights operation for Pakistan
Price of Dollar reduced than RupeeDate: June 04, 2020
DAWN NEWS PAPER
With industry stagnant, govt aims for 2.3pc growth next year
Policy focus now on growth, says SBP governor
Officials begin to take notice as petrol shortage worsens
FBR refunds Rs5bn to trader in one month instead of scheduled 10 years
K-Electric facing furnace oil shortfall
Cyber harassment complaints surged during lockdown: report
Sindh: vehicle taxStrict lockdown if people continue SOPs violation: Shibli Faraz
Ginning factories halt operations in protest
State Bank indicates further policy moves amid lowering inflation
T-bills auction fetches Rs154.8bln
Foreign firms repatriate $1.194bln in 10 months
Rupee gainsAlarming rise in Covid-19 cases
PM for ensuring impact of reduced fuel prices on commodities’ prices
Income Tax Ordinance, FBR decides to introduce changes through Finance Bill
KCCI concerned over tax officials’ seeking more powers
Cotton spot rate falls by Rs100 to Rs8400
Canton Fair and CIIE, Mitigating the effects of Covid-19
P.H.M.E.A. Ad. “APPEAL”Govt warns of lockdown if SOPs flouted
PM aide tells exporters to ship PPEIf new tax imposed then economy will destroyed. Businessmen Panel
Karachi Chamber shows deep concern regarding information of cases reopen of taxpayers
Textile Export Sector reach on ruin, slam on FBR. Sulaiman Chawla
In Interbank value of US$ reduced 50 paisaDate: June 03, 2020
DAWN NEWS PAPER
Supply of petrol affected across country
FDI surges 127pc in July-April
Dollar continues upward journey
CDNS cuts rates on savings certificates
FBR Ad, “We BOC” for E-payment of duties/taxes by Importers & ExportersImported gas diversion to consumers by SNGPL: RLNG consumers to pay Rs73.848 billion
Law sought to stop undefined detention charges, demurrage
Profit rates on saving schemes slashed fourth time since July
Tax department seeks powers to reopen up to 10-year old cases
Rupee weakensExporters show concern over stuck-up liquidity
Punjab APTMA chairman urges govt to restore zero-rating
KCCI concerned over helplessness of importers, exporters exploited by shipping lines
Export of PPEs allowed by Cabinet
Ginners will not resume operations until demands accepted
High interest rates: a misguided policy for PakistanUK, Pakistan tax authorities at odds
Traders accuse shipping lines of exploitation
Govt overcomes gas crisis at a price
Govt cuts profit rates on saving schemesNational Saving Scheme announced to reduction rate of profit
Karachi Chamber shows deep concern regarding helplessness of Imports & Exports
In Interbank $ reached at 164.89Date: June 02, 2020
DAWN NEWS PAPER
SCCI demands revival of zero-rated regime
Rupee slips Rs3.18 in three sessions
Inflation drops to 8.2pc in MayBudget 2020-21: IMF to be asked to slash FBR target from Rs5,103 bn to Rs4,800 bn
Businesses allowed to operate between 6am and 7pm from Monday to Friday
Private sector credit drops 53pc to Rs265bln in July-May
May inflation posts largest drop in 11 months amid coronavirus disruptions
Import tax collection falls 18pc to Rs51bln in May
Rupee depreciation far less than comparable economies: State Bank
SRB waives up to 100pc penalty
LPG prices reduced by Rs2/kgComplete lockdown on Saturdays and Sundays
FY21 budget, Hafeez identifies govt priorities
FPCCI to survey effects of Covid-19
Five zero-rated sectors, NKATI urges PM to restore SRO 1125
Budget must give relief to industry: KATI
Cotton spot rate down to Rs 8500
Petrol price, 8.65pc benefit passed on against 32.86pc actual cut
OGRA cuts LPG price by Rs2 per kg
SRB announces Sindh Sales Tax Incentive Package
CPI inflation eases down to 8.2pc YoY
Lubna may be appointed SBP’s ED FMU
ICAP for providing one-window solution to taxpayers
FBR sets up ‘tax information processing unit’
Pakistan Textile Exporters Association Ad,Pakistan may end special tax system
Traders seek relief to boost exports
Sindh Revenue Board announces tax incentive package
Rupee settles at 164.08 against dollar
Inflation eases to 8.2% in May
Improving flight safety in Pakistan
Covid poses multidimensional challenges to economy: SBPIn Sindh, permission granted for business activities from 6 a.m to 7 p.m
Sindh Revenue Board has announced incentive package for taxpayers
Cotton Ginning Industry has decided not to start their factories in current season
FPCCI announced to start survey on effects of corona
Dollar expensive 98 paisa, dollar reached at 164.08Date: June 01, 2020
DAWN NEWS PAPER
Prices of petroleum products reduced
Banks are making huge interest incomePetrol price reduced by Rs7.06, kerosene Rs11.88, LDO by Rs9.37/litre
State Bank of Pakistan says extended lockdown poses risks to economy
Prayers begin in Masjid-e-Nabvi, Al-Aqsa mosqueAPTPMA for export proceeds realisation with customs rebate refund
PRGMEA calls to exempt cotton yarn from all duties
Budget 2020-21: PCMAEA seeks incentive package for export sector
Sialkot Chamber demands freight subsidy
Field formations, PRAL: FBR detects major discrepancy in data
Taxes and duties collection: FBR witnesses growth of 7.7 percent in July-May
Petrol prices slashed by Rs 7.06
NCOC to launch 'no mask no service' initiative
Rapid surge in Covid-19 cases: Crucial NCC meeting today
Companies (Amendment) Ord 2020: PBC supports government, SECP
WEEKLY COTTON REVIEW: Business remained low after Eid holidays
Pre-budget 2020-21 random thoughts - I
FBR must use all available data sourcesCovid-19 in Pakistan: The quintuple whammy
Govt slashed petrol price by Rs7 per litre
FBR increase tax collection target for June to Rs440bGovt did not transfer full benefit for price reduction of oil in the international market
First time P.I.A flight went to USA directly