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Customs Duty: Imposed on the import and export of goods. This tax is intended to regulate trade and generate revenue from international transactions. Excise Duty: Levied on the production of specific goods such as alcohol, tobacco, and petroleum products.
It also issues tenders for export and import of agricultural products. TCP has its offices across various cities of the country including Karachi, Islamabad, Lahore and Multan. [2] [3] Trading Corporation of Pakistan was established in 1967 as a premier international trading house fully owned by the Government of Pakistan.
During the fiscal year 2015–16, Pakistan's exports stood at US$20.81 billion and imports at US$44.76 billion, resulting in a negative trade balance of US$23.96 billion. [ 11 ] For further information on the types of business entities in this country and their abbreviations, see " Business entities in Pakistan ".
Imports include petroleum and petroleum products, chemicals, fertilizer, capital goods, industrial raw materials, and consumer products. [ 1 ] On 12 December 2013, the European Union granted GSP Plus status to Pakistan [ 2 ] until 2017, which enabled it to export 20% of its good with 0 tariff and 70 percent at preferential rates to the EU market.
The council is headed by the union finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India. The GST council makes recommendations to the Parliament of India to make or amend laws related to the taxes on goods and services in India. [48] The 54th GST Council Meeting was held on 9th Sept 2024. [49] [50] [51]
India is the second biggest oil importer after China and is highly dependent on imported crude oil. [27] The net imports of crude oil rose from 171.73 Mt during 2011–12 to 226.95 Mt during 2020–21. The net imports of natural gas increased from 18 BCM in 2011–12 to 32.86 BCM in 2020–21, recording a CAGR of 9.44%.
In the northern part of the country, Customs and Central Excise operations were carried out simultaneously through the Collectorate of Central Excise and Land Customs Lahore. It was the second oldest Collectorate in the country whose jurisdiction spanned the whole of the former West Pakistan, barring Karachi and Balochistan. Custom House Lahore ...
Nishat Group (Urdu pronunciation: [niːˈʃaːt] nee-SHAHT) is a group of companies headquartered in Lahore, Pakistan. [1] [2] It was founded by in 1951. Mian Muhammad Mansha is the current chairman of the group. [3] At least eleven of the Nishat Group's subsidiaries are listed on the Pakistan Stock Exchange. [4] [5]