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FBR exceeds target, collects Rs755b

The Federal Board of Revenue (FBR) has made a steady start to the fiscal year by achieving its first-month target, collecting Rs755 billion in revenues on the back of improved performance in indirect taxes, as both the tax machinery and traders await clarity on several unresolved issues. The provisional collection exceeded the monthly target of … Read more

‘Sugar stocks ample, prices within reach’

[ Listen to article ISLAMABAD: As a sugar crisis continues to haunt the government which has recently ordered strict monitoring of stocks at mills, the food minister on Thursday claimed that everything was in control and abundant sweetener was available in the country. This comes despite rising prices due to hoarding and profiteering, piling pressure on consumers. … Read more

Utility stores wind up operations nationwide

ISLAMABAD: The Utility Stores Corporation (USC) officially shut down its operations on Thursday, following the July 31 deadline that had been issued earlier this month for winding up the state-owned enterprise (SOE). A USC notification issued by the Ministry of Industries and Production stated that the decision followed directives from Prime Minister Shehbaz Sharif on … Read more

Rs9.7m looted in armed heist outside bank

KARACHI: Armed robbers made off with Rs9.7 million in cash after ambushing a private cash van outside a bank in Korangi area on Tuesday. Two security guards were injured in the exchange of fire that occurred near Godam Chowrangi within the jurisdiction of the Korangi Industrial Area police station. The suspects, reportedly opened indiscriminate fire … Read more