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Hafeez Sheikh reaches Karachi after SHC grants protective bail

SHC granted him 10-day transit protective bail to Hafeez Sheikh and ordered NAB not to arrest him.

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Pakistan to pay interest at higher rate on Saudi loan

Pakistan will be paying the interest at a comparatively high rate on the $4.2b cash and oil facility it has been offered by Saudi Arabia, officials have confirmed. The confirmation comes a day after the federal cabinet approved the Saudi aid package on Saturday. A spokesperson of the federal finance ministry has hailed the Saudi package as a symbol of brotherly relations between Pakistan and Saudi Arabia. The spokesman said Pakistan has secured the $3b loan from Saudi Arabia at an interest rate of 4% while the $1.2b oil on deferred payment facility has been secured at an interest rate of 3.8%. The interest rate of about 4% is higher than the rate offered by the International M. ....

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Corporates oppose end to dividend tax waiver - Newspaper

LAHORE: The business community has urged the government to review its decision to withdraw exemption on inter-corporate dividends, which will result in double taxation for the corporate sector, hinder corporatization and business diversification and impede growth of capital markets.
The approval of the Income Tax (Section Amendment) Act 2021 to comply with IMF programme conditions, the businessmen argue, will reduce income tax exemptions for the corporate sector. The bill also proposes removal of a clause that exempts dividend income of the holding company from subsidiaries where the ownership share is more than 55 per cent.
In a letter to Finance Minister Abdul Hafeez Sheikh, Pakistan Business Council CEO Ehsan Malik has stated “the exemption currently provided under clause 103C to the taxing of inter-corporate dividends has helped in consolidation and scaling up of Pakistani businesses. Any change now in the tax laws is likely to negatively impact investment decisions, ....

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Unfair assault on institutions - Newspaper

The attempt to tilt at windmills is not warranted as the rulers face no difficulty in acting on their policies. ....

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Poll panel approached to delay former Pakistan PM's winning notification

Poll panel approached to delay former Pakistan PM's winning notification
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