Millat Tractors refutes media claims of FBR-imposed Rs5.4bn fine

News Image

MG News | June 24, 2024 at 02:42 PM GMT+05:00

Join our Whatsapp channel
Add Mettisglobal as a Trusted Source on Google Google
0:00

June 24, 2024 (MLN): Millat Tractors Limited (PSX: MTL) has refuted recent media reports claiming that the Federal Board of Revenue (FBR) imposed an Rs5.4 billion fine on the company for sales tax audit discrepancies.

MTL in a notice issued to the Pakistan Stock Exchange (PSX) clarified that the said news is misreported as FBR has not imposed any such fine as of the publication date of this information.

However, FBR has issued a show cause notice to the company on Sales Tax related matters based on its interpretation.

The company is of the view that most of the matter(s) taken up in the show cause notice have already been decided by the Lahore High Court, FTO and President of Pakistan and liable to be dropped in the light of their decisions.

Moreover, other matters are against the factual position and the company likely to prevail in these matters.

Copyright Mettis Link News

Related News

News
DGKC sees durable FY27 cement recovery on lower rates, reconstruction demand
News
Sitara Energy FY26 profit plunges 49% to Rs59m
News
Weekly Market Roundup
Name Price/Vol %Chg/NChg
KSE100 165,904.01
150.01M 		-1.34%
-2251.48
ALLSHR 100,424.97
384.41M 		-1.37%
-1396.29
KSE30 49,537.89
59.40M 		-1.22%
-613.72
KMI30 237,524.04
52.18M 		-1.32%
-3170.02
KMIALLSHR 65,019.76
207.29M 		-1.35%
-886.43
BKTi 46,232.24
12.48M 		-1.21%
-564.09
OGTi 33,889.61
5.15M 		-1.38%
-472.53
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 86,290.00 87,395.00
84,680.00 		1700.00
2.01%
BRENT CRUDE 102.44 103.40
100.65 		0.19
0.19%
RICHARDS BAY COAL MONTHLY 128.50 0.00
0.00 		1.00
0.78%
ROTTERDAM COAL MONTHLY 143.75 143.75
143.70 		0.60
0.42%
USD RBD PALM OLEIN 1,167.50 1,167.50
1,167.50 		0.00
0.00%
CRUDE OIL - WTI 90.67 91.88
89.31 		-0.44
-0.48%
SUGAR #11 WORLD 20.22 20.33
19.85 		0.29
1.46%
Chart of the Day
Latest News
October 05, 2026 at 03:16 PM GMT+05:00

Exports on the move as September growth beats imports

October 05, 2026 at 02:56 PM GMT+05:00

Sazgar brings ARCFOX T5 REEV to Pakistan at Rs10.2m

October 05, 2026 at 02:32 PM GMT+05:00

KOHP incurs Rs3.5m FY26 loss

Top 5 things to watch in this week
Workers' Remittances
Central Government Debt
Savings Mobilized by National Savings Schemes
International Reserves/Foreign Currency Liquidity
MTB Auction
Previous
Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg