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FBR freezes PIA accounts over ‘non-payment of dues’

KARACHI: The Federal Board of Revenue (FBR) has frozen all bank accounts of the Pakistan International Airlines (PIA) over non-payment of outstanding tax dues. According to reports, the PIA under federal excise duty had to pay Rs. 10 million to FBR, but the national carrier could not make the payments as yet. The FBR, in action, froze all the PIA accounts, prompting difficulties to the latter in payment of salaries to the employees as well as running flight operations. Apart from payment of salaries and pensions, PIA…

Nissan sues India over outstanding dues; seeks over $770 million

NEW DELHI: Japanese automaker Nissan Motor has begun international arbitration against India to seek more than $770 million in a dispute over unpaid state incentives, according to a person familiar with the matter and documents reviewed by Reuters. In a legal notice sent to Prime Minister Narendra Modi last year, Nissan sought payment of incentives due from the Tamil Nadu government as part of a 2008 agreement to set up a car manufacturing plant in the southern state. According to the notice, Nissan said repeated…