Tag: Sales
Sindh, FBR at loggerheads over imposition of sales tax, federal excise...
KARACHI - The Sindh government and the Federal Board of Revenue (FBR) are at loggerheads over imposing Sales Tax and Federal Excise Duty on all coalfields, other than those in Thar, that are being exploited, Pakistan Today has reliably learnt.
The dispute has surfaced despite the cabinet's Economic Coordination Committee (ECC) approving a fiscal incentive package for all coalfields in Sindh. "The FBR is insisting on bringing all of Sindh's coalfields under the tax net, but
The dispute has surfaced despite the cabinet's Economic Coordination Committee (ECC) approving a fiscal incentive package for all coalfields in Sindh. "The FBR is insisting on bringing all of Sindh's coalfields under the tax net, but
Call to withdraw sales tax on power looms
GUJRANWALA - Pakistan Silk and Rayon Mills Association has condemned levy of sales tax on power looms industry through a presidential ordinance and demanded its instant withdrawal. This demand was made at a meeting of the association chaired by Haji Abdul Waheed.
A unanimously passed resolution warned the government of agitation in Islamabad if the sales tax was not reversed. Haji Muhammad Akram told the participants of the meeting that a committee had been formed to chalk out a
A unanimously passed resolution warned the government of agitation in Islamabad if the sales tax was not reversed. Haji Muhammad Akram told the participants of the meeting that a committee had been formed to chalk out a
BD’s exports soar 41pc on garment sales
DHAKA - Bangladesh's exports surged nearly 41 percent in March from a year earlier to a record $2.14 billion as apparel sales rose sharply, led by a continuing shift in production from China to the lower-cost South Asian country. Exports for July to March, first nine months of the 2010-11 fiscal year, rose by an above-target 40.3 percent to more than $16 billion, the Export Promotion Bureau said on Wednesday. Exports of ready-made garments to Europe and the United States, which
Cement sales likely to touch 23 million tonnes
KARACHI - Local cement sales are likely to be in the vicinity of 23 million tonnes in FY11, down by an annual two percent. In addition, a demand rebound by seven percent in FY12 is expected due to reconstruction of infrastructure damage, caused by floods.
The Asian Development Bank (ADB) has recently announced $650 million for infrastructure purposes. However, cement export sales are likely to remain flat in FY12, i.e. around nine million tonnes, said Atif Zafar at JS.
The Asian Development Bank (ADB) has recently announced $650 million for infrastructure purposes. However, cement export sales are likely to remain flat in FY12, i.e. around nine million tonnes, said Atif Zafar at JS.
Japan’s new vehicle sales plunge after quake
TOKYO - Japan's domestic sales of new cars, trucks and buses, last month, dropped 37 percent from a year earlier, as the devastating March 11 earthquake and tsunami hit production and supplies to auto dealers.Auto sales aggregated 279,389 in March, the seventh-straight monthly decline, the Japan Automobile Dealers Association said on Friday.
The 9.0 magnitude earthquake, Japan's biggest ever recorded, three weeks ago unleashed a tsunami that devastated swathes of the northeast
The 9.0 magnitude earthquake, Japan's biggest ever recorded, three weeks ago unleashed a tsunami that devastated swathes of the northeast
Petrol pumps stop sales ahead of fuel price hike
LAHORE - Petrol pump owners again resorted to their fleecing techniques by stopping sales on Thursday, as fuel prices are expected to be increased by 10 to 15 percent from midnight, Pakistan Today has learnt. Motorists and motorcyclists were seen searching for petrol from one pump to another. Petrol pumps located in major areas of the city including Model Town, Garden Town, Allama Iqbal Town, Mughalpura, Dharampura, Ghari Shahu and others stopped selling fuel in the evening and hardly
FBR agrees to reduce sales tax on textiles
ISLAMABAD - In a major development, the association of the textile mills has succeeded in convincing tax authorities to lower the general sales tax (GST) on sales of their products in the domestic market from April 1.
An industry source said a delegation of the All Pakistan Textile Mills Association (APTMA) held talks with the Federal Board of Revenue (FBR) on Saturday and per the agreement, trade between the registered sales tax units would remain zero rated for all export
An industry source said a delegation of the All Pakistan Textile Mills Association (APTMA) held talks with the Federal Board of Revenue (FBR) on Saturday and per the agreement, trade between the registered sales tax units would remain zero rated for all export
Used clothes importers demand sales tax withdrawal
KARACHI - Importers of used clothes, on Tuesday, demanded withdrawal of the recently imposed sales tax which, they said, had taken even the secondhand clothes beyond reach of the poor. "We wish to draw attention of our government to withdraw sales tax, on this item, by issuance of a fresh SRO," Pakistan Secondhand Clothing Merchant Association (PSCMA) President Salim Vakani told a briefing at Karachi Press Club.
He said the used clothes were presently being imported into the
He said the used clothes were presently being imported into the
Car sales boost by 12 percent
ISLAMABAD - Car sales have increased by 12 percent in the first seven months of the current fiscal year to reach at 72,580 units compared to 64,965 units in the corresponding period last year. Car sales on month-on-month basis also witnessed a substantial rise of 73 percent to stand at 12,934 units in January 2011 against 7,446 units in December 2011, according to data maintained by Pakistan Automotive Manufacturers Association (PAMA).
The highest growth was observed in the case
The highest growth was observed in the case
Auto sales fall 9pc in Feb
KARACHI - Auto sales have registered a monthly nine percent decline in February 2011. This slump is triggered by the high base effect as buyers are looking to purchase cheaper imported cars after the government relaxed import and depreciation policies.
According to the data released by Pakistan Automotive Manufacturers Association (PAMA) for the month of Feb'11, auto sales fell by a monthly nine percent, while it augmented an annual six percent and reached 12,248 units. A
According to the data released by Pakistan Automotive Manufacturers Association (PAMA) for the month of Feb'11, auto sales fell by a monthly nine percent, while it augmented an annual six percent and reached 12,248 units. A
Price increase boosts sales of smuggled petrol
KARACHI - The soaring prices of POL (petrol, oil and lubricants) have remarkably increased the sale of smuggled Iranian petrol, causing losses worth billions of rupees to the exchequer, while important government personalities are also investing in and harbouring this illegal business, sources have informed Pakistan Today.
The daily consumption of Iranian petrol has gone through the ceiling, whereas a major decline between 10,000 tonnes and 15,000 tonnes in daily consumption of
The daily consumption of Iranian petrol has gone through the ceiling, whereas a major decline between 10,000 tonnes and 15,000 tonnes in daily consumption of
Italian report details arms sales to Libya
ROME - Italy has sold Libya explosives, gun targeting equipment and other military hardware worth tens of millions of euros (dollars) in the past two years, Italian daily Corriere della Sera reported on Saturday.
The newspaper quoted an official report from the Italian interior ministry that listed signed contracts as well as ongoing negotiations between Libya and several major Italian defence companies including industry giant Finmeccanica. Missile systems maker Mbda Italia
The newspaper quoted an official report from the Italian interior ministry that listed signed contracts as well as ongoing negotiations between Libya and several major Italian defence companies including industry giant Finmeccanica. Missile systems maker Mbda Italia
Russia ‘may lose $10b’ arms sales from Arab unrest
MOSCOW - Russia risks losing up to $10 billion (7.4 billion euros) in arms sales from the wave of unrest currently sweeping north Africa and the Middle East, a weapons industry official said on Tuesday. The figure is equivalent to Russia's total arms sales for 2010 and would represent a massive setback to the country's efforts to maintain its Soviet-era clients in the Middle East.
The unnamed arms export official told the Interfax news agency that Russia was carefully monitoring
The unnamed arms export official told the Interfax news agency that Russia was carefully monitoring
Car sales surge in January
KARACHI: Cars sales including Light Commercial Vehicles (LCV's) have exhibited a phenomenal monthly rise of 64 percent and reached 8,889 units. This increase is largely driven by a 209 percent monthly increase in 1300cc vehicles, in addition to a 20 percent monthly rise in 800cc category. According to the Pakistan Automotive Manufacturers Association (PAMA), the massive rise in January, 2011 is spurred by the 'new year' phenomena as people tend to postpone purchases till the start of
777 aircraft sales proposal stokes dispute
KARACHI - The actual bone of contention between the management of the Pakistan International Airlines (PIA) and its pilots' association is the proposed sale of the Boeing 777 fleet which is being lobbied for by Managing Director Ijaz Haroon.
Sources told Pakistan Today that the PIA MD has failed to secure a bailout package from the government, and his plan of selling the 777 fleet is ostensibly aimed at offsetting the huge losses of the national flag carrier. The PIA management
Sources told Pakistan Today that the PIA MD has failed to secure a bailout package from the government, and his plan of selling the 777 fleet is ostensibly aimed at offsetting the huge losses of the national flag carrier. The PIA management
Cement sales dip by 16 percent in January
KARACHI - Cement sales remained weak in January and fell by 16 percent in annual terms. With regards to quantity, the sale of cement declined to 2.5 million tonnes. Rising product prices and meek domestic demand attributable primarily to poor public sector spending kept local off-take constricted (down 16 percent annually), whereas unattractive prices in the regional markets dragged exports down by 17 percent annually.
Though local sales improved by seven percent in monthly terms
Though local sales improved by seven percent in monthly terms
Low consumption bites into fuel sales
KARACHI - The Sale of oil in the country is witnessing a downward trend due to dwindling consumption, Pakistan Today has learnt. According to analysts, the consumption of oil sharply fell by 7.6 percent month-on-month and 2.1 percent year-on-year during seventh month of the current fiscal year, January 2011.
The major reason behind the decline in sales was less diesel consumption, which fell by nine percent to four million tonnes during this period, analysts said. Analysts cited
The major reason behind the decline in sales was less diesel consumption, which fell by nine percent to four million tonnes during this period, analysts said. Analysts cited
