Discontinuation of special power tariff: Apparel textile sector warns govt of grave implications

The country’s apparel textile sector on Sunday warned the federal government of ‘disastrous’ implications for the economy if it discontinued the special power tariff to the five export-oriented sectors, saying that the IMF should be told the concessional facilities are not a ‘subsidy.’ The IMF should be informed that the special tariffs and DLTL are not subsidies rather ‘crucial’ export-policy…

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SCCI chief rejects hike in POL products’ prices


Business community here out rightly rejected the historic increase in prices of petroleum products, asking the government to revise its decision while keeping in view the fragile condition of business and industry and ailing economy of the country. The government’s decision would prove detrimental for the already feeble national economy, warned Hasnain Khurshid Ahmad, President Sarhad Chamber of Commerce and…

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Potential sectors evading taxes: Finance Bill may introduce ‘windfall levy’

The Finance Bill 2022 is expected to introduce a new concept of tax, ie, ‘Windfall Levy’ in the Income Tax Ordinance, 2001 for special taxation of the potential sectors making extraordinary profits, but not depositing the due amount of taxes. Sources told Business Recorder here on Saturday that the concept of the “Windfall Levy” does not exist in Pakistan. This is for…

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Indigenous fuel options linked to poverty eradication


Liberalisation of the power market and indigenisation of energy mix should be the way forward for Pakistan to get rid of International Monetary Fund (IMF) borrowings, and eradicate poverty from the country. Chief Executive Officer of Engro Powergen Qadirpur Limited Shahab Qader told Business Recorder that the country should explore Thar coal, low BTU gas fields, and renewable energy sources…

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