Category: Highlights

FBR Expands Single Sales Tax Return to Oil, Gas, and Microfinance Sectors

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ISLAMABAD: The Federal Board of Revenue (FBR) and all Provincial Revenue Authorities/Boards have unanimously agreed to extend the Single Sales Tax Return (SSTR) system to include oil and gas exploration and production companies, as well as microfinance banks. According to details shared by the FBR on Friday, taxpayers from these two sectors must now file their sales tax returns through the SSTR starting with the tax period of November 2024, due in December 2024. Streamlining Tax ComplianceThe SSTR, accessible via the Single Portal at www.iris.fbr.gov.pk, was initially launched for the…

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Murad directs provincial depts for timely, targeted planning for ADP 2025-26

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• Emphasis on continuity in efforts to restore infrastructure• Emphasis on aligning uplift efforts with SDGs• Priority areas: improved healthcare, education, climate-smart initiatives in agriculture, irrigation. KARACHI (Dec 6): Sindh Chief Minister Syed Murad Ali Shah has issued detailed guidelines for the preparation of the Annual Development Program (ADP) for 2025-26 aimed at ensuring strategic planning for provincial development, focusing on post-flood rehabilitation, socio-economic uplift, and alignment with the government’s broader development agenda. Following the directive from the CM, Minister Planning & Development Syed Nasir Shah has issued detailed guidelines…

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EAD Seeks IsDB Financing Details for Eight Key Infrastructure Projects

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ISLAMABAD: The Economic Affairs Division (EAD) has sought comprehensive updates on eight pipeline development projects to evaluate their readiness for potential financing by the Islamic Development Bank (IsDB). The details will be shared with the IsDB Programming Implementation and Supervision Mission (PIASR), scheduled to visit Pakistan from December 8-14, 2024. The projects under negotiation include: Diamer Bhasha Dam Hydropower Project500 kV Double Circuit Transmission Line: Matiari–Moro–Rahim Yar Khan500 kV Double Circuit Transmission Line: Ghazi Barotha–Faisalabad WestSukkur–Hyderabad Motorway (M-6)Chashma Right Bank Canal (CRBC)Karachi–Torkham Highway Project (Phase II)Reactive Compensation Power Devices for…

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Pakistan defers LNG contract with Qatar for a year, petroleum minister says

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ISLAMABAD: Pakistan has deferred its liquefied natural gas (LNG) contract with Qatar for a year, Petroleum Minister Musadik Malik said on Wednesday, adding that the country will now get LNG cargoes from Qatar in 2026 instead of 2025. Annual power use in Pakistan, which gets over a third of its electricity from natural gas, has declined 8-10% year-on-year over the past three quarters, the country’s power minister told Reuters in November, primarily due to higher tariffs curbing household consumption. Qatar LNG contract: Strategy being mapped out to seek review The South Asian nation…

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Pakistan plans to bring Elon Musk’s satellite company Starlink to Pakistan

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Minister of State for Information Technology Shaza Fatima has said that the government is trying to bring the world’s billionaire Elon Musk’s satellite company Starlink to Pakistan. The minister stated this during a meeting of the Senate Standing Committee on IT and Telecom chaired by Palwasha Khan. Chairman Palwasha Khan said that whatever initiative the Ministry of IT takes, it puts the responsibility on the Ministry of Interior. I don’t understand why we have the Ministry of IT, she added while lashing out at the ministry. The IT officials said…

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