Chief Editor: Ansar Mahmood Bhatti

Category Archives: Business

Ground broken for Zameen Developments’ latest project ‘Zameen Ace Mall’ in DHA Islamabad

  • Project is a joint venture between Zameen Developments, Ace Group and UAE-based MIH Group

  • Zameen Ace Mall comprises shops, hypermarket, residential apartments and hotel apartments

ISLAMABAD (DNA) –Zameen Developments organised the official groundbreaking ceremony for its first mixed-use project in Islamabad, titled ‘Zameen Ace Mall’, on Thursday, July 11.The project is a joint venture between Zameen Developments, renowned Islamabad-based developer Ace Group, and UAE-based MIH Group. CEO Zeeshan Ali Khan and Ace Group CEO Usman Zafar Cheema were the guests of honour at the ceremony, which took place at the project’s site in Sector J, DHA Islamabad-Rawalpindi Phase II. The project’s on-site sales office was also inaugurated at the same time.

Last date for filing tax returns extended till August 2: Shabbar

ISLAMABAD, JUL 14 (DNA) -Chairman Federal Board of Revenue Shabbar Zaidi has said the last date for filing tax returns for year 2018 has been extended till 2nd of next month.In a press release in Islamabad, he urged the people to benefit from this opportunity and file their tax returns timely to avoid difficulties.He said according to the Income Tax Ordinance, filing of the tax return is compulsory for those who own a house larger than five hundred square yards  or a vehicle over 1000 cc.

Chinese companies pledge to invest $5b in Pakistan

ISLAMABAD, JULY 12 (DNA) – Leading Chinese companies have committed to invest five billion dollars in Pakistan in next 3-5 years.The commitment was expressed during a meeting of a high level delegation of over 55 executives and CEOs of the leading Chinese companies with Prime Minister Imran Khan in Islamabad on Friday.

No tax imposed on edible items: Chairman FBR

ISLAMABAD, JUL 12 (DNA) – Chairman FBR Shabbar Zaidi has emphatically stated that no tax has been imposed on edible items including the flour.Addressing a news conference in Islamabad on Friday, he said our target is to broaden the tax net. However, we will not take any decision that hurts our industry or trade.The Chairman regretted that the ratio of those paying sales tax is very low.

M’sia to establish Proton automotive assembly plant in Pakistan: Dr Mahathir

KUALA LUMPUR, JUL 10 (DNA) — Prime Minister Tun Dr Mahathir Mohamad said Malaysia is looking forward to the establishment of Proton Holdings Berhad’s automotive assembly plant in Pakistan.He made the announcement in his speech at the 32nd Rawalpindi Chamber of Commerce and Industry (RCCI) International Achievement Awards.“I would also like to suggest to Malaysian businessmen to look into the various available trade opportunities in Pakistan.

IMF Mission Chief to Pakistan says Pakistan’s economy is at critical juncture

WASHINGTON, JUL 09 (DNA) – Pakistan’s economy is at a critical juncture, IMF Mission Chief to Pakistan Ernesto Ramirez-Rigo said in Washington, D.C.In a staff report on the program to Pakistan the IMF noted that misaligned economic policies, including large fiscal deficits, loose monetary policy, and defense of an overvalued exchange rate, fueled consumption and short-term growth in recent years, but steadily eroded macroeconomic buffers, increased external and public debt, and depleted international reserves.

Customs officials sacrifices to curb smuggling

Dr. Abdul Qudoos Shaikh, Deputy Collector (DC), Anti-Smuggling, Model Customs Collectorate of Preventive, Quetta laid down his life early morning on Tuesday 9th July, after struggling for his life for six days. An outstanding enforcement sleuth of the Pakistan Customs Service who while enforcing the writ of the government in the difficult terrain of Baluchistan was ambushed and attacked on the night of 3rd July, 2019 after seizing a container load of smuggled high value goods near Kohlpur, Baluchistan.