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Fauji Cement’s expansion will make it Pakistan’s third-largest cement producer Fauji Cement Company Limited (FCCL) is undertaking two major expansions that will enable the manufacturer to become the second-largest cement producer in the northern region and the third-largest in Pakistan. Senior company officials announced the developments at a company meeting held on October 18 to […]
GTECH shareholders will receive 0.3 shares of GCIL Based on the proposed merger between GTECH and GCIL, the SWAP ratio is 0.30 shares of GCIL for each share of GTECH, as described by GTECH. Tax Up to 500% On Imported Cars to Protect Domestic Industry The right to issue GCIL shares to GTECH shareholders is […]
Tax up to 500% on imported cars to protect domestic industry Pakistan has increased tariffs and protective taxes by up to 500% to demoralize the flow of imported cars, which it believes makes local manufacturers less competitive while promoting their monopoly. The meeting, chaired by committee chairman MNA Noor Alam Khan, strongly recommended a review […]
Pakistan’s current account deficit narrows for the third consecutive month Pakistan’s current account deficit (CAD) narrowed to $0.3 billion in September from $0.7 billion in the previous month, the State Bank of Pakistan (SBP) said late Wednesday. Strict orders issued from PAC to Carmakers For the first quarter of the current fiscal year (FY23), the […]
Legislation to double GST credit for six months receives Royal Assent! Life is affordable for the Canadian as the Bill C-30, the Cost of Living Relief Act, No 1 (Trageted Tax Relief) receives Royal Assent, doubling the goods and services Tax credit for six months. This is eligible to the Canadians who are already receiving […]
Strict orders issued from PAC to Carmakers! Strict order to car makers to hand over new cars to the customers has been issued by Public Accounts Committee (PAC). As per the order, the car makers should hand over the car to the customer within a month who made cent per cent advance payment. The issue […]
K-Electric requests for huge reduction in bills K-Electric has submitted an application to the National Electricity Regulatory Agency (NEPRA) to reduce electricity rates by PKR 4.622 per unit for September 2022, announced on Tuesday. As per details, K-Electric has proposed a reduction of PKR 4.622 per unit while adjusting fuel costs for September. This will […]
Interloop earnings jump 85% in Q1 2023 Interloop Limited (ILP), a textile and apparel export company, posted a profit of Rs 4.96 billion in the first quarter of fiscal year 2022-23, beating industry expectations. According to the company’s financial results, profit increased by 85 percent compared to Rp 2.69 billion recorded in the same period […]
PACE to invest Rs500mn as advances in Pace Baraka! Today on Tuesday, PACE (Pace Pakistan Limited) filled the approval of equity investment of Rs500 million as advances in Pace Baraka Properties Limited on stock exchange. It added, the advantages is likely to accrue to the company shall include income on advances in the shape of […]
