Ishaq Dar chairs ECC meeting
ISLAMABAD: The Federal Minister for Finance Senator Mohammad Ishaq Dar chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet here at the Prime Minister’s Office. ECC has…
Shifting of State Bank’s departments unjustified – LCCI
KARACHI: President of the Lasbela Chamber of Commerce and Industry (LCCI) Ismail Suttar has deeply regretted the PML-N Governrment’s decision to shift State Bank’s four departments to Lahore terming it…
SBP maintains policy rates unchanged at 5.75 percent
KARACHI: The year-on-year CPI inflation rose to 3.6 percent in August 2016 from 1.8 percent in August 2015, while the average inflation during the first two months of the current…
TP consignments given temporary exemption from the condition of electronic I-Form
KARACHI: In line with the recommendation of State Bank of Pakistan (SBP), Pakistan Customs has granted relief to transshipment (TP) consignments from the condition of electronic I-Form. Consignments which filed…
Imports via electronic I-Form only to be processed: Pakistan Customs
KARACHI: Pakistan Customs has made it clear that only the consignments imported through the electronic I-Form would be released and any consignments arriving the ports with the electronic I-Form would…
Al-Baraka to buy Burj Bank soon
KARACHI: AL-Baraka Bank (Pakistan) Limited (ABPL), a Bahrain and Emirates joint entity, has decided to purchase ‘The Burj Bank Pakistan and submitted the same for this possible merger to the…
Total foreign investment up 124.8% to $113.9m
KARACHI: Despite the downward trend in Direct Investment, the country’s total foreign investment enhanced by 124.8 per cent to $113.9 million owing to the higher inflows of portfolio investments in…
IMF completes twelfth and final review mission to Pakistan
KARACHI: An International Monetary Fund (IMF) staff mission, led by Harald Finger, visited Dubai from July 26 – August 4, 2016 to conduct discussions on the twelfthand final review of…
FBR to notify property value throughout the country, says Ishaq Dar
KARACHI: The Federal Board of Revenue (FBR) has been authorized to notify the valuations of the properties throughout the country including Karachi, Lahore and Islamabad, said Ishaq Dar, Federal Finance…
Valuation of immovable property; decision on July 27, 2016
KARACHI: The final decision regarding the formula regarding valuation of immovable properties is deferred for July 27, 2016. Finance Advisor Haroon Tareen has advised the FBR to resolve the issue…
Prices of kitchen items, medicine and other to increase one per cent from Friday
KARACHI: After increasing one per cent Customs Duty of above 1400 products, the prices of medicine, tea, green tea, rice and other kitchen item would be increased from tomorrow (Friday)…
Commercial banks to ensure maximum availability of banking services
KARACHI: State Bank of Pakistan (SBP), being fully cognizant of the banking needs of general public, has taken the following measures for smooth availability of banking services during Eid-ul- Fitr…
Chairman FBR congratulates Large Taxpayers Unit
KARACHI: Chairman Federal Board of Revenue (FBR) has lauded the performance of the officers of Large Taxpayers Unit (LTU) for crossing Rs1.0 trillion revenue collection mark. Addressing a press conference…
Central Bank issues guidelines on prevention against cyber attacks
KARACHI: State Bank of Pakistan (SBP) has advised banks/MFBs/DFIS to continuously improve their cyber security controls and procedures so as to anticipate, withstand, detect, and respond to cyber attacks. SBP’s…
Avoidance of double taxation and prevention of fiscal evasions
KARACHI: The Finance Bill 2016 proposes to enable the Federal Government to enter into a tax treaty or tax information and exchange agreement or multilateral convention or inter government agreement…
Central bank reproaches FBR’s dependence on regressive taxation
KARACHI: The central bank has highlighted Federal Board of Revenue (FBR) dependence on regressive taxation to meet targets, and advocates broadening of base through documentation of economy. Regressive tax is…
Improvements in some of the macroeconomic indicators observed, says central bank
KARACHI: State Bank of Pakistan (SBP) has released its Second Quarterly Report for FY16 on the state of Pakistan’s Economy. According to the Report, improvements in some of the macroeconomic…
FBR to observe extended working hours
KARACHI: The Federal Board of Revenue (FBR) has notified that all field offices of Customs and Inland Revenue will remain open and observe extended working hours i.e. 09:00 am to…
Customs to implement I-form mechanism to track import transactions
KARACHI: Pakistan Customs is preparing a module in the WeBOC system to enable mandatory uploading of import-form i.e. I-Form for recording of the transaction between the importer and exporter. A…
Central Bank maintains discount rates at 6.0 percent
KARACHI: The State Bank of Pakistan (SBP) has announced that the key interest rates would remain unchanged at 6.0 percent for November-December 2015. The Central Bank in the Monetary Policy…