Tag: Finance and Revenue

  • Suzuki Swift GLX CVT now priced above Rs5.4 million

    Suzuki Swift GLX CVT now priced above Rs5.4 million

    Pak Suzuki Motor Company Limited (PSMC) announced a substantial increase of Rs304,000 in the price of its Swift G. CVT model, effective from March 8, 2024.

    This adjustment comes in response to the recent surge in taxes imposed by the government on locally manufactured or assembled vehicles, as indicated in the company’s official notice issued today.

    Consequently, the new sale price for the Swift G. CVT model will see an adjustment from Rs5.125 million to Rs5.429 million, reflecting the impact of the revised tax structure.

    The decision stems from a notification released by the Ministry of Finance and Revenue on the same date, highlighting a hike in the sales tax rate from 18 per cent to 25 per cent for vehicles falling under chapter 87.03 of the Pakistan Custom Tariffs, with an invoice price (excluding sales tax) exceeding Rs4 million.

  • Shaukat Tarin leaves US without concluding talks with IMF

    Shaukat Tarin leaves US without concluding talks with IMF

    Adviser to the Prime Minister (PM) on Finance and Revenue Shaukat Tarin left Washington on Thursday without concluding the talks with the International Monetary Fund (IMF), reports Dawn.

    The minister, however, left Finance Secretary Yousaf Khan behind to further carry on the talks for the resumption of a $6 billion loan facility that would bring immediate relief to the government by delivering a suspended tranche of $1billion.

    Tarin first came to Washington in early October and went to New York on October 15.

    Tarin met IMF Managing Director Kristalina Georgieva and other officials twice, and after both meetings, each side expressed the hope that the consultations would soon lead to a positive conclusion.

    However, Tarin quietly left Washington on Thursday. He may join PM Khan who is scheduled to visit Saudi Arabia this weekend.