Daily Times Expert says higher dividends from SOEs to multiply govt s revenue
July 25, 2021
The tax collection from dividend income has registered a sharp growth of 33 percent during the fiscal year 2020-21 due to better earnings of the corporate sector.
The collection of income tax grew to Rs18.46 billion during the fiscal year 2020-21, compared with Rs13.83 billion in the preceding fiscal year. The tax collection from the dividend income is based on the earnings of the companies registered with the Large Taxpayers Office (LTO) Karachi.
The LTO Karachi is the major revenue arm of the Federal Board of Revenue (FBR) and contributes around 40 percent of the land taxes in the total collection at the national level.
KSE-100: stocks stage recovery as index climbs by 136 points Index clocks at 47,628 level; volume recorded at 191.69 million shares
July 16, 2021
Market participation by retail investors ended their dry spell on Thursday which lifted benchmark kse-100 index to climb past 47,600 level after posting about 136 points gain by the closing bell.
On Thursday, the trading kicked off on an optimistic note right after the opening bell as the index climbed steadily for most part of the day and touched intraday high of 47,736.13. However, the market came under selling pressure in final hours, which pared some of the gains.
Market sentiments were primarily driven by the rumors of Oil discovery in Waziristan, which directed major capital to index heavyweight Oil & Gas Development Company Limited (OGDCL), said Irfan Saeed, Senior Vice President BMA Capital Management Limited.
Index clocks at 47,480 level, volume recorded at 102 million shares
July 14, 2021
Market participation continued to dwindle at KSE-100 index in a range bound session on Tuesday, as looming deadline to submit Capital Gain Tax (CGT) kept investors away from the bourse.
On Tuesday, the index clocked at 47,480 level after posting a meagre 33.41 point gain by the closing bell. The index accelerated to an intraday high of 47,585.18 points and slid to an intraday low of 47,439.89 points, moving within a range of 145.29 points and closing the session in consolidation.
Earlier, trading began on a positive note and the index inched closer to the 47,600-point mark in early hours, however, investors took this as an opportunity to book profit, which interrupted the ascent and dragged the market down.
A man carries an LPG cylinder at a gas distribution centre in Peshawar. Reuters/File
ISLAMABAD: Amid criticism from stakeholders over poor consultative process, the government on Sunday indicated tax and duty concessions for storage and enhanced production of liquefied petroleum gas (LPG) with relaxations from procurement rules to the public sector entities to enable them to compete with private sector in import and sale of LPG.
At a consultative session on proposed new LPG policy, various local stakeholders, including those in public and private sectors, bemoaned the ‘haste’ in which they were called to the petroleum division on a holiday on a short notice and said it created an atmosphere of suspicion.
LPG scam surfaces during emergency moot
Importers of liquefied petroleum gas minted around Rs20b due to misuse of incentive
The local industry said that LPG is a poor man’s fuel and it is essential to keep its prices at a affordable level, which is not reflected in LPG Policy. PHOTO: AFP
ISLAMABAD:
Private sector importers pocketed billions of rupees due to misuse of the government’s Liquefied Petroleum Gas (LPG) Policy 2015 – a fact revealed during an emergency meeting that the Petroleum Division held on Sunday to discuss the new LPG policy with relevant stakeholders.
Under the 2015 policy, the local LPG producers paid 17% general sales tax (GST) whereas the importers paid only 10% GST due to an incentive announced for them by state-run Pakistan State Oil (PSO) and the Sui Southern Gas Company (SSGC).