The Federal Board of Revenue (FBR) has suspended two tax officers for approving a multi-billion rupee tax refund to Gas & Oil Pakistan Ltd (GO), despite orders from the Finance Minister to release the funds. The refund aimed to resolve a bottleneck hindering an $80 million Saudi investment in the fuel pump operator. According to … Read more
Millat Tractors Limited (MTL) has announced the suspension of its production operations due to unresolved issues surrounding the Goods and Services Tax (GST) refunds. The company disclosed this development in a notice sent to the Pakistan Stock Exchange on Thursday. According to the notice, MTL highlighted that while the GST on tractors is set at … Read more
Government-owned power distribution companies (Discos) have proposed a reduction in the fuel cost adjustment (FCA) by 31 paise per unit, potentially leading to a refund of approximately Rs4.5 billion to consumers in their September bills. This follows the overcharging in July due to a 20% hike in the base tariff for the current fiscal year. … Read more