Business
PRA Barred from Charging Sales Tax on Developed Plots After Tribunal Ruling
The Punjab Revenue Authority’s appeal tribunal has delivered a major decision, ruling that the sale of developed plots by real estate developers does not qualify as a taxable service. The judgment blocks the PRA’s attempt to impose a provincial sales…
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No Change in Electricity Peak Hours, Confirms Power Division
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The Ministry of Energy (Power Division) has categorically denied recent rumors about a change in electricity peak hours, confirming that the existing schedule remains fully…
VoltShare Secures Six-Figure Investment from Canadian Investor
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Lahore, Pakistan: In a major boost for Pakistan’s climate tech ecosystem, VoltShare, an innovative EV charging startup, was incubated at NIC Lahore. Secured a six-figure…
Reviving Pakistan Steel Mills Industry: Pak Signs Deal with Russia
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ISLAMABAD: China seems to be out of contention for the Pakistan Steel Mills (PSM) revival contract, as Pakistan and Russia signed a protocol on Friday.…
PRA Designates Telecom, Banks & Insurers as Withholding Agents
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The Punjab Revenue Authority (PRA) has designated telecommunication, banking, and insurance companies as withholding agents. These companies are now required to withhold 80% of the…
Paris Auction Sets Record with $10M Hermès Birkin Bag Sale
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The first-ever Hermès Birkin bag, made for Jane Birkin, has sold for $10 million at a Sotheby’s auction. The bag was auctioned in Paris and…
Shehbaz Sharif Meets Alibaba For Digital Trade Plans
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ISLAMABAD: Prime Minister Shehbaz Sharif emphasized the critical role of e-commerce in driving Pakistan’s export-led economic vision, calling it a “strategic necessity” for modern trade.…
Pakistan Plans to Sell Minority Stake in Roosevelt Hotel, Eyes $1 Billion Valuation
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Reports claim: Pakistan is preparing to sell a minority stake in the historic Roosevelt Hotel in Manhattan. The government is targeting a valuation of over…
ZTBL Refutes Media Reports on Alleged Rs. 11 Billion Loan Losses
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Zarai Taraqiati Bank Limited (ZTBL) has strongly refuted recent media reports alleging the loss of loan files worth over Rs. 11 billion. In a statement…
No Tax on Cash Sales Over Rs. 200K, Clarifies FBR
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The Federal Board of Revenue (FBR) has officially denied imposing a 20.5% tax on cash transactions exceeding Rs. 200,000. This clarification comes amid widespread confusion…
Air Arabia Secures Approval for New Routes in Pakistan
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UAE’s budget airline, Air Arabia, is all set to boost its footprint in Pakistan, following the Civil Aviation Authority’s (CAA) green light for expanded flight…
SBP to Roll Out Pilot for Pak’s Own Digital Currency
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ISLAMABAD / SINGAPORE: The State Bank of Pakistan (SBP) is preparing to launch a pilot project for a central bank digital currency (CBDC). SBP Governor…
Islamabad City App Helps Generate Rs. 15.5 Billion in Tax Revenue
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The Islamabad City App continues to reshape citizen services with a landmark achievement, Rs. 15.5 billion in tax revenue collected by the Excise and Taxation…
SBP Expands Raast & PayPak to Reduce Foreign Payment Reliance
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The State Bank of Pakistan (SBP) has accelerated its efforts to reduce Pakistan’s dependency on expensive international card networks like Visa and MasterCard, which settle…
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