Islamabad, Sep 23: The Federal Board of Revenue (FBR) is facing significant challenges in meeting its monthly revenue targets, having achieved only 43% of the goal in the first 18 days of the month. In response, the FBR has issued a letter to the Chief Commissioner of the Corporate Regional Tax Office, expressing concerns about the slow pace of revenue collection and emphasizing the need for enhanced efforts, particularly in the first quarter of the financial year. The FBR has directed the Corporate Regional Tax Office to prioritize the recovery of outstanding taxes and ensure the timely filing of monthly…
Author: Mawadat Fatima
Islamabad, Sep 23: Former Pakistan captain Misbah-ul-Haq has temporarily stepped away from his role as a mentor for the UMT Markhors team to attend pre-scheduled charity events in the United States. This decision, confirmed by sources within the Pakistan Cricket Board (PCB), comes during the ongoing Champions Cup, where Misbah’s presence was eagerly anticipated. The PCB noted that Misbah had informed them of his prior commitments before taking on the mentorship role, and his absence was accounted for in his contract. Despite this official approval, his decision has drawn criticism on social media, with fans questioning his dedication to the…
Islamabad, Sep 23: Badiuddin Akber, CEO of the Central Depository Company of Pakistan Limited (CDC), has been elected Chairman of the Executive Committee of the Asia-Pacific Central Securities Depositories Group (ACG) for the 2024-2027 term. This decision was made during the ACG’s 26th Annual General Meeting held in Almaty, Kazakhstan, on September 11, 2024. As part of this election, CDC has also become the ACG Secretariat for the same term. The ACG comprises 41 member institutions from 27 countries in the Asia-Pacific region, marking a significant milestone for both CDC and Pakistan in the global securities market. This leadership role…
Islamabad, Sep 23: The National Accountability Bureau (NAB) has achieved a historic recovery of Rs. 168.5 billion related to the Bus Rapid Transit (BRT) Peshawar project, marking a record in its 25-year history. The investigation into the BRT project commenced in 2018, amid allegations of illegal contract allocations and financial mismanagement. NAB dismissed contractors’ claims totaling Rs. 31.5 billion in the International Court of Arbitration. The inquiry revealed that six major contracts were improperly awarded, leading to non-compliance and project delays. A review of over 400 bank accounts uncovered misconduct, including fake guarantees and significant damages claimed by the Peshawar…
Islamabad, Sep 23: The Pakistan Cricket Board (PCB) is facing a major financial challenge as it struggles to secure international media rights for the upcoming home Test series against England, starting on October 7 in Multan. The absence of a broadcasting deal could lead to significant financial losses and hinder access for English fans and Pakistanis in the UK. Initially, the PCB set a high reserve price of approximately $21 million for a three-year international media rights deal, but the bids received fell well short. The highest bid was from Sports Five at $7.8 million, followed by a joint bid…
Islamabad, Sep 23: At a recent reception hosted by Ronak Lakhani, Chairperson of Special Olympics Pakistan, Rebecca Ralston, Senior Director of Early Childhood and Preventive Health at Special Olympics International, praised Pakistan’s contributions to the global sports community. She commended Special Olympics Pakistan for its outstanding efforts in training and nurturing athletes with special needs. The event honored Ralston, along with Pearl Ang, Senior Manager of Health for the Special Olympics Asia Pacific Region, and Pam Rolink, Manager of Youth Initiatives. Notable attendees included SOP Board Member Asma Hasan, Advisor Yasmin Haider, and Media Advisor of the Pakistan Olympic Association…
Islamabad, Sep 23; During the 8th Silk Road International Expo for Investment and Trade Forum in Xi’an, China, an MOU was signed between Oil and Gas Development Company Limited (OGDC) and Chuanqing Drilling Engineering Company Limited (CCDC), a subsidiary of China National Petroleum Corporation (CNPC). This agreement highlights the commitment to developing Pakistan’s shale and tight gas potential to address the country’s energy needs through indigenous resources. The MOU was signed by Mumtaz Ali Soomro, Executive Director (Production) at OGDCL, and Mr. Zhang Zhidong, Vice President of CCDC, with the Federal Minister of Energy, Mr. Musadik Malik, and Pakistan’s Ambassador…
Islamabad, Sep 23: Pakistan’s left-arm fast bowler Mohammad Amir’s New T20 Bowling Milestone in T20 cricket by becoming the third Pakistani pacer to achieve 350 wickets. This milestone was reached during a Caribbean Premier League (CPL) match where Amir secured two vital wickets for Antigua and Barbuda against Guyana. Amir joins an elite group of Pakistani fast bowlers, including Wahab Riaz and Sohail Tanvir, who have also crossed the 350-wicket threshold. Wahab Riaz leads the pack with 413 wickets in 348 matches, while Sohail Tanvir follows closely with 389 wickets in 388 matches. Amir’s accomplishment of 350 wickets in just…
Islamabad, Sep 23: Farmers and agriculturists in Pakistan are deeply concerned about the Federal Board of Revenue’s (FBR) proposal to increase the sales tax on tractors from 10% to 18%. This move, they argue, would severely impact the farming community, which is already facing numerous challenges. In a letter addressed to the FBR Chairman, Nabi Bux Sathio, Senior Vice President of the Sindh Chamber of Agriculture, emphasized the need for tax structure rationalization and the abolition of the sales tax on tractors. The proposed tax hike could exacerbate existing issues such as insufficient investment, climate change effects, and water scarcity,…
Islamabad, Sep 23: British-Pakistani boxer Hamzah Sheeraz claimed the Middleweight European Boxing title with a decisive victory over Tyler Denny at Wembley Stadium on Sunday, maintaining his undefeated record at 21-0. Sheeraz showcased his skills early, knocking Denny down twice before securing a technical knockout. The first knockdown occurred in the opening round with a precise combination of a right cross and left hook. He followed up with another powerful left hook in the second round, prompting referee Mark Bates to stop the fight after assessing Denny’s ability to continue. This victory adds to Sheeraz’s impressive accolades, including the Commonwealth…