Economy

FBR to Disallow Input Tax Adjustment to 1,680 Unregistered Retailers

The Federal Board of Revenue (FBR) will disallow input tax adjustment of 1,680 Tier-1 retailers in case they fail to integrate with the FBR’s computerized system for real-time reporting of sales till May 31, 2024.

A Sales Tax General Order No. 01 of…

Economy

Here’s How To Pay Your IESCO Bill Online Starting April 2024

Islamabad Electric Supply Company (IESCO) is facing disruption in its online bill payment system, hence payments through banking apps or 1link are not working at the moment. This has resulted in people forming long queues outside of IESCO offices eve…

Economy

Lucky Core Industries’ Profit Declines By 64% in 9 Months of FY24

Lucky Core Industries Limited announced its 9MFY24 financial result today where the company posted a profit after tax (PAT) of Rs. 7.9 billion, down 64 percent YoY compared to PAT of Rs. 21.9 billion during SPLY.

On a quarterly basis, the profitabil…

Economy

NEPRA Approves KE’s 7-Year Investment Roadmap

The National Electric Power Regulatory Authority (NEPRA) has given decision on the utility’s Transmission and Distribution Investment Plan till FY2030 which will catalyze the company’s efforts to reduce losses in transmission and distribution, drive …

Economy

International Reporting Standards Critical to Modernizing Insurance Industry: SECP Commissioner

Aamir Khan, Commissioner Insurance at SECP stated that the adoption of international reporting standards for modernizing Pakistan’s insurance industry is a critical priority for SECP as a regulator of the insurance sector.

He was delivering the keyn…

Economy

Allied Bank Posts 51% Profit Growth in First 3 Months of 2024

Allied Bank Limited (PSX: ABL) announced earnings (PAT) today for 1QCY24 at Rs. 11.6 billion, depicting an increase of 51 percent YoY, however down 5 percent QoQ.

According to Arif Habib Limited (AHL), the decrease in earnings QoQ was mainly attribu…