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Bridging The Gap
PPP holds caretaker govt responsible for failing to protect Bilawal in Lyari PPP holds caretaker govt responsible for failing to protect Bilawal in Lyari
A day after Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari’s convoy had to be routed after being pelted with stones in the metropolis’ Lyari locality, the PPP criticised the interim government for failing to protect electoral candidates and maintaining order in the run-up to elections. The spokesperson for Bilawal, Senator Mustafa Nawaz Khokhar, said the “onus of protecting the ca...
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FBR includes offshore income in scope of tax amnesty scheme FBR includes offshore income in scope of tax amnesty scheme
The Federal Board of Revenue (FBR) announced to include offshore income under the scope of the tax amnesty scheme, changing the goalpost just two days before close of the window, a move that is likely to create more confusion among applicants. The tax machinery continued giving explanatory notes on the offshore and domestic assets amnesty schemes, due to expire coming Saturday. The changes made...
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Tribunal disqualifies ex-PM from contesting election for 'not being Sadiq and Ameen' Tribunal disqualifies ex-PM from contesting election for 'not being Sadiq and Ameen'
ISLAMABAD: In an unprecedented decision, an election tribunal in Rawalpindi on Wednesday disqualified former prime minister Shahid Khaqan Abbasi from contesting the upcoming elections declaring that he is not Sadiq (truthful) and Ameen (trustworthy). A single-judge bench, in its written order, noted that Abbasi was “guilty of concealment of facts and withholding of complete information from h...
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Pakistan’s foreign borrowing surges to $10b in 11 months Pakistan’s foreign borrowing surges to $10b in 11 months
Pakistan has received nearly $10 billion in foreign loans in the past 11 months, and almost three-fourths have been utilised for budgetary support and meeting external financing requirements, underscoring that the amount cannot be returned without resorting to fresh borrowing. The total loan disbursement from July through May of fiscal year 2017-18 stood at $9.98 billion, reported the Economic ...
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CPPA proposes increase in electricity tariff by Rs1.32 per unit CPPA proposes increase in electricity tariff by Rs1.32 per unit
The Central Power Purchasing Agency (CPPA-G) has recommended the power regulatory authority to increase electricity tariff by Rs1.32 per unit for consumers, aimed at recovering Rs78.66 billion from next month. The state-owned power purchasing agency made the recommendation to adjust fuel charges in the tariff for the power produced and sold to the consumers nationwide, except for K-Electric con...
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Six terrorists killed, two soldiers martyred in South Waziristan raid Six terrorists killed, two soldiers martyred in South Waziristan raid
Six terrorists were killed and two army soldiers martyred in an intelligence-based operation (IBO) in the Ladha area of Khyber-Pakhtunkhwa’s South Waziristan tribal district on Saturday, the military said. The raid triggered a heavy exchange of fire, the Inter-Services Public Relations (ISPR) said in a statement. Nanakar, a high-value target responsible for attacks on local residents and tribal...
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CJP seeks justification for petroleum taxes CJP seeks justification for petroleum taxes
The Supreme Court on Thursday directed the authorities concerned to present a detailed half-yearly record pertaining to auctions, prices and applicable taxes on petroleum products. A three-member bench headed by Chief Justice of Pakistan Mian Saqib Nisar issued the directive while hearing a petition regarding excessive price hikes in petroleum products at the Supreme Court’s Karachi registry. ...
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Finance minister seeks support for success of amnesty scheme Finance minister seeks support for success of amnesty scheme
The caretaker government, with its limited mandate to fix the faltering economy, has urged bankers and stockbrokers to play their role in making the tax amnesty scheme successful and the first dollar-based savings certificates for overseas Pakistanis to shore up the critically low foreign currency reserves. To make the scheme successful, the government is ready to make amendments to relevant la...
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SC dismisses petition against Sheikh Rashid SC dismisses petition against Sheikh Rashid
The Supreme Court on Wednesday rejected, in a 2-1 judgment, an election appeal seeking Awami Muslim League (AML) chief Sheikh Rashid Ahmed’s disqualification for life. The bench comprising Justice Sheikh Azmat Saeed, Justice Qazi Faez Isa and Justice Sajjad Ali Shah rejected the election appeal of Pakistan Muslim League-Nawaz (PML-N) member Malik Shakeel Awan. The petitioner accused Rashid o...
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Accountability court given a month to conclude corruption references against Sharif family Accountability court given a month to conclude corruption references against Sharif family
The top court has given a month to the accountability court to conclude trial in three corruption references filed against the Sharif family by the National Accountability Bureau. During the hearing of an application seeking third extension for concluding trials against the Sharif family, Chief Justice of Pakistan (CJP) Mian Saqib Nisar rejected the plea filed by deposed prime minister Nawaz Sh...
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