• ISLAMABAD: The Federal Board of Revenue (FBR) has launched a single identifier number for all domestic taxes.

    An official announcement said that under this initiative a taxpayer can use all applications under the Income Tax, Sales Tax and Federal Excise Duty by mere use of the Computerised National Identity Card if he/she is an individual.

    In case of partnership firms and companies, the National Tax Number (NTN) shall be the common tax identifier number. In this manner the Sales Tax, Income Tax and Federal Excise laws have been harmonised. This is an important step towards ease of doing business and it will substantially improve Pakistan’s rating on this count.

  • Zi Solar signs MoU with South Korea's Aeonus Co Ltd as Pakistan looks to make headway in EV market

    In a major development for Pakistan's Electric Vehicle (EV) market and its associated infrastructure, Zi Solar Pvt. Ltd, a local renewable energy solution provider, has entered into a partnership with South Korea's Aeonus Co Ltd, a renewable energy products manufacturer, for the deployment of EV charging equipment in the country.

    The partnership will pave way for the deployment of Korea-manufactured Electric Vehicles (EV) charging and storage equipment in Pakistan, according to a statement issued by Zi Solar.

  • ISLAMABAD: Pakistan and the Kingdom of Bahrain will hold Joint Ministerial Commission (JMC) from 28-29 July in Manama to sign an accord to further trade and investment ties and undertake collaborative projects, The News learnt on Monday.

    This would be the second session of the JMC between both the countries, as previously, the 1st session of the Pak-Bahrain Joint JMC was held on 5-6 February 2017 at Islamabad.

    Board of Investment (BOI) being the premier investment promotion agency of Pakistan working under the administrative control of the Prime Minister’s Office is mandated to promote and facilitate both local & foreign investment and has initiated the Memorandum of Understanding (MoU).

  • ISLAMABAD: Pakistan and Bahrain will sign a memorandum of understanding for the promotion of trade and investment opportunities during the second session of Pak-Bahrain Joint Ministerial Commission, opening in Manama on July 28.

    The MoU between the Board of Investment (BOI) and the Economic Development Board (EDB) of Bahrain will provide a framework within which both countries would be able to develop and undertake collaborative activities and projects; share knowledge and would have integrated technical exchange and assistance in the areas of mutual interest.

    The BOI expects the joint commission meeting will be a major breakthrough in terms of showcasing Pakistan’s lucrative investment opportunities to Bahrain.

  • ISLAMABAD: Pakistan’s exports of information technology grew by 47.4 per cent to cross the $2 billion mark for the first time in the country’s history in the outgoing fiscal year.

    In absolute terms, the IT exports reached $2.12bn in 2020-21 as against $1.44bn in the preceding year, according to data released by Commerce Ministry on Monday.

  • ‘South Asia as a whole is greatly affected by the superpower game’

    The Annual Report on Investment Security of China's Belt and Road Construction (2021) was jointly released by China Belt and Road Think Tank Cooperation Alliance, Beijing International Studies University, and other institutions.

    The report puts forward the fruits of researches on the political, economic, social, cultural, and ecological investment security in countries along the Belt and Road Initiative (BRI).

  • PM Says electric vehicle policy is part of government's Clean and Green Initiative

    Karachi: Prime Minister Imran Khan launched on Thursday Pakistan's first-ever environment-friendly electric motorbike (E-bike) in a ceremony in Islamabad.

    The launch of the E-bike is part of the government’s efforts to reduce carbon emission. The E-Bike has been manufactured by a local firm, Jolta Electric.

    The E-Bike, will be available in various models including JE-70, JE-70 L, JE-70 D, JE-100 L, JE-125 L, JE-Scooty, and JE-sports bike. All the motorcycles are energy efficient and can be charged overnight with other features such as no clutch and gear and low maintenance.

  • ISLAMABAD   -  Elsewedy Electric Pakistan Managing Director Sherif Abo Elhassan, a leading Egyptian electric company, called on MOS/Chairman Board of Investment Atif Bokhari and Secretary BOI  Fareena Mazhar to discuss sector based investment opportunities in Pakistan. 

    Elsewedy Electric recently acquired 100 per cent equity stake in Validus Engineering Pakistan, previously owned by Siemens. The takeover will bolster company growth via introduction of power transformer technology that enhances the production capacity to support regional export. Additionally, Elsewedy is also a potential bidder for acquisition of Heavy Electric Complex (HEC). 

  • ISLAMABAD: Chinese investment in Pakistan tops with dollar 402.8 million during seven months of the current fiscal year.

    According to a report published by Gwadar Pro, China’s vote of confidence in Pakistan’s economy deepens after China stays atop as the sole highest contributor of net foreign direct investment (FDI) when compared to other countries in Pakistan.

    The net FDI inflow from China remains at dollar 402.8million which is touted highest in the list of inflows from other countries.

  • Foreign investors return to Pakistan Investment Bonds with $240m

    KARACHI: Pakistan Investment Bonds (PIBs) attracted highest foreign investment of over $100 million in March alone, reflecting rising attraction for foreign investors keen to profit from returns up to 10 per cent.

    The latest data issued by the State Bank of Pakistan on Wednesday showed that the foreign investors invested $240.69m in the PIBs during July-March FY21.