Sep 28

SBP issues framework for cloud outsourcing arrangements

KARACHI: State Bank of Pakistan (SBP) has issued framework for financial institutions outsourcing to cloud service providers (CSPs). The SBP said that to BPRD Circular No. 05 of 2017 on ‘Enterprise Technology Governance and Risk Management Framework for Financial Institutions (FIs)’ and BPRD Circular No. 06 of 2019 on ‘Framework for Risk Management in Outsourcing […]

by Mrs. Anjum Shahnawaz

Ministry issues procedure for imports under personal baggage, transfer of residence, gift scheme

Sep 28

Pakistan Customs

Ministry issues procedure for imports under personal baggage, transfer of residence, gift scheme

ISLAMABAD: The ministry of commerce and issued procedure for imports and customs clearance under schemes including personal baggage, gift and transfer of residence. The ministry of commerce issued SRO 902(I)/2020 dated September 25, 2020 and notified Import Policy Order 2020 while repealing the previous Import Policy Order, 2016. The ministry through the policy order issued […]

by Mrs. Anjum Shahnawaz

Policy to import used/old cars under various schemes unveiled

Sep 27

Automotive

Policy to import used/old cars under various schemes unveiled

ISLAMABAD: The ministry of commerce has unveiled the policy to import new and old/used cars under Import Policy Order, 2020. The ministry issued SRO 902(I)/2020 dated September 25, 2020 to notify the Import Policy Order, 2020 and explain the policy to import motor vehicles under various schemes. The Import Policy Order 2020 laid down the […]

by Mrs. Anjum Shahnawaz

Letter to FBR chairman: PTBA explains timeline for filing return under tax law

Sep 27

Taxation

Letter to FBR chairman: PTBA explains timeline for filing return under tax law

ISLAMABAD: Pakistan Tax Bar Association (PTBA) on Saturday demanded the tax authorities to extend the last date for filing income tax return for at least three months as provided under the law. The apex tax bar of the country in its letter to the chairman of Federal Board of Revenue (FBR) on Saturday stated that […]

by Mrs. Anjum Shahnawaz

MCC Quetta auctions 118 seized motor vehicles on September 28

Sep 26

Auction, Pakistan Customs

MCC Quetta auctions 118 seized motor vehicles on September 28

KARACHI: Model Customs Collectorate (MCC) Quetta has announced an auction of a huge number of motor vehicles that were confiscated during recent against non-duty paid and smuggled vehicles. The collectorate will present 118 motor vehicles at the auction. The auction has been scheduled for September 28, 2020 to be held at MCC Quetta. Following motor […]

by Mrs. Anjum Shahnawaz

Policy issued for import of petroleum products

Sep 26

Energy

Policy issued for import of petroleum products

ISLAMABAD: The ministry of commerce has issued policy for import of petroleum products through under the new Import Policy Order, 2020. The ministry issued SRO 902(I)/2020 dated September 25, 2020 to notify the import policy order. 01. Under the policy, petroleum oils and oils obtained from bituminous minerals crude shall only be importable by oil […]

by Mrs. Anjum Shahnawaz

Import Policy Order 2020: Goods from India, Israel remain on banned list

Sep 26

Pakistan Customs

Import Policy Order 2020: Goods from India, Israel remain on banned list

ISLAMABAD: Goods from India and Israel shall remain on the banned list for import into Pakistan, according to Import Policy Order, 2020 issued by the ministry of commerce. The ministry issued SRO 902(I)/2020 to notify the updated policy for the goods to be imported into Pakistan. According to the policy order following are banned, namely: […]

by Mrs. Anjum Shahnawaz

Sep 26

Stock & Commodity

Weekly Review: turmoil in international market to impact on local bourse

KARACHI: The local bourses may under pressure during next week owing to turmoil in international market, analysts said. Analysts at Arif Habib Limited said that with economic indicators continuing to show improvement, we expect the profit-taking to be short-lived. So far Pakistan seems to be far from a second wave of the coronavirus. However turmoil […]

by Mrs. Anjum Shahnawaz

FBR’s technical committee invites stakeholders’ suggestions to promote tax culture

Sep 25

Taxation

FBR’s technical committee invites stakeholders’ suggestions to promote tax culture

ISLAMABAD: The Chairman of Technical Committee of Federal Board of Revenue (FBR), which was constituted by the Advisor to the Prime Minister on Finance and Revenue to create a taxpayer friendly environment, has invited suggestions for improving various functions of the tax machinery. Abid Shaban, Chairman, FBR’s Technical Committee, in a communication on Friday said […]

by Mrs. Anjum Shahnawaz

Ministry releases Export Policy Order 2020

Sep 25

Pakistan Customs

Ministry releases Export Policy Order 2020

ISLAMABAD: The ministry of commerce on Friday issued Export Policy Order 2020 while making several changes to the old policy. The ministry issued SRO 901(I)/2020 to release the export policy order. The export policy order shall come into force at once, the ministry said. The export policy order 2020 can be downloaded here.

by Mrs. Anjum Shahnawaz