LAHORE: Pakistan does not want to enter arms race but would not remain oblivious to destabilizing developments in the region, said Kamran Akhtar, director general, Arms Control and Disarmament.
ISLAMABAD: The Yaum-e-Takbeer was observed on Friday to commemorate the historic nuclear tests Pakistan conducted on May 28, 1998.The nuclear explosions, which were conducted in self-defence and.
In this file photo, the Indian Space Research Organisation s GSAT-9 on board the Geosynchronous Satellite Launch Vehicle (GSLV-F09), launches in Sriharikota in the state of Andhra Pradesh. AFP/File
ISLAMABAD: Officials on Thursday termed militarisation of space and artificial intelligence by India through western support an emerging threat for Pakistan’s security.
This was the upshot of a discussion hosted by the Islamabad Policy Institute on the occasion of the 23rd anniversary of the 1998 nuclear tests.
The two panelists at the discussion titled ‘Pakistan’s Quest for Peace and Strategic Stability in South Asia’ were Adviser to Strategic Plans Division Ambassador Zamir Akram and Director General Arms Control and Disarmament at the Foreign Office Kamran Akhtar.
Turnover tax hurting viability of OMCs: IPI Report dailytimes.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailytimes.com.pk Daily Mail and Mail on Sunday newspapers.
‘OMCs pay significantly higher than corporate tax rates’
Business
May 26, 2021
ISLAMABAD: Oil marketing companies (OMCs) are paying significantly higher than the 29 percent corporate tax rate in the country because of anomalies in turnover taxation, an independent think-tank said on Tuesday.
In a report, Islamabad Policy Institute (IPI) said the turnover tax is effectively negating the provisions of Section 57 of the Income Tax Ordinance, 2001 and is putting a significant additional financial burden on the long-term viability of the regulated petroleum sector.
“Although the profit margin of petroleum dealers, petroleum agents and distributors is higher than that of OMCs, the petroleum dealers operating petrol pumps are exempt from this tax and petroleum agents are enjoying low rate of 0.25 percent,’ IPI said in a report. “This is discriminatory, arbitrary and absurd as in similar sector the persons with high profit margin pay no/lesser percentage of tax on turnover w