WASHINGTON: The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) Monday sanctioned virtual currency mixer Tornado Cash, which has been used to launder more than $7 billion worth of virtual currency since its creation in 2019.
(more…)Author: Mrs. Anjum Shahnawaz
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Pakistan increases profit rates for saving accounts
Pakistan has increased profit rates for saving accounts to 13.50 per cent per annum from 12.25 per cent.
The Central Directorate of National Savings (CDNS), the authority to manage the saving schemes in Pakistan, has announced the increase in profit rates on various schemes.
READ MORE: Pakistan hikes key policy rate by 125 basis points to 15%
According to Arif Habib Limited, the authority announced the increase in profit rates for two schemes.
The profit rate of savings accounts has been increased by 125 basis points to 13.50 per cent from 12.25 per cent
Similarly, the profit rate has been increased for regular income certificates by 24 basis points to 12.60 per cent from 12.36 per cent.
However, profit rates for other schemes are remained unchanged. The profit rates for the other scheme are: Defence Saving Certificate at 12.40 per cent; Behbood Saving Certificate at 14.16 per cent; Special Saving Certificates at 13 per cent; and Pensioner Benefit Account at 14.16 per cent.
READ MORE: Pakistan may see further 100bps hike in policy rate
The increase in profit rates of saving schemes have been announced after the key policy rate was hiked to 15 per cent.
On July 7, 2022, the State Bank of Pakistan (SBP) announced to increase the policy rate by 125 basis points to 15 per cent.
This combined action continues the monetary tightening underway since last September, which is aimed at ensuring a soft landing of the economy amid an exceptionally challenging and uncertain global environment. It should help cool economic activity, prevent a de-anchoring of inflation expectations and provide support to the Rupee in the wake of multi-year high inflation and record imports.
However, several adverse developments have overshadowed this positive news. Globally, inflation is at multi-decade highs in most countries and central banks are responding aggressively, leading to depreciation pressure on most emerging market currencies.
READ MORE: SBP increases interest rate by 150bps to 13.75%
“This strong monetary tightening has occurred despite concerns about a slowdown in global growth and even recession risks, highlighting the primacy that central banks are placing on containing inflation at this juncture,” the SBP said.
Domestically, as energy subsidies were reversed, both headline and core inflation increased significantly in June, rising to a 14-year high. Inflation expectations of consumers and businesses also rose markedly.
At the same time, the current account deficit unexpectedly spiked in May and the trade deficit continued its post-March widening trend to reach a 7-month high in June, on burgeoning energy imports. As a result, FX reserves and the Rupee remained under pressure, further worsening the inflation outlook, the central bank added.
READ MORE: Policy rate may rise as T-Bill yields increase sharply
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Karachi Customs to auction confiscated vehicles on August 11, 2022
ISLAMABAD: The Collectorate of Customs Enforcement, Karachi has announced auction of confiscated motor vehicles on August 11, 2022 at Anti-Smuggling Office (ASO), Ghasbandar Keamari, Karachi.
The Collectorate is schedule to auction following vehicles.
01. One Unit Old & Used Toyota Crown Saloon Car, Reg. M-3751 – Model – 1981 Chassis # MS112-061156 Engine # 2TZ0250677
READ MORE: Peshawar Customs to auction motor vehicles on August 11, 2022
02. One Unit Old & Used Toyota Land Cruiser Jeep Reg. LZN-888 Model 1999 chassis # UZJ100-0081129 Engine # 2UZ-0132269.
03. One Unit Old & Used Jaguar SUV S Type Reg. # AAR – 770 (Sindh) – 3000 CC, Model – 2002 Chassis # SAJACO2EX2FM144654.
04. One Unit Old & Used Toyota Surf Jeep Reg. BD-1234 (Sindh) Modal 1992 2446CC Chassis # LN130-0125263 Engine # 2.L-TE
05. One Unit Old & Used Nissan Station Wagon Reg No. CD-2120 Model 1990, 2500CC Chassis # TGD21-500077 Engine # 000332
06. One Unit Old & Used Toyota Cresta Saloon Car Reg No DGA-265, Model 1996 2491CC Chassis # JZX100-6000152 Engine # 20704205
READ MORE: Gwadar customs auctions motor vehicles on July 28, 2022
07. One Unit Old & Used Toyota Crown Car Reg. No. ALD-030 Model 2004 Chassis.#-GRS182-0002959
08. One Unit Old & Used Toyota MarK- X Car Reg. No. GS-2314 Model 2004 Chassis.#-GRX121-3000273
09. One Unit Old & Used Toyota Surf Jeep Reg. No. BF-8252 Model 1990 Chassis<#-LN130-0042931
10. One Unit Old & Used Toyota Corolla Car Reg. No. TD-497 J Model 2000 Chassis No.CE121-3000202 Engine No. 30-E-2134
11. One Unit Old & Used Toyota Land Cruiser Prado Reg. No. BD-3253 Model 2002 Chassis No. VZJ125-0001103
12. One Unit Old & Used Toyota Crown Car Reg. No. ANQ179 Model 2007 Chassis No. GRS184-0015746
13. One Unit Old & Used Honda Cross Road Reg. No. BF-0628 Model 2007 Chassis No. RT3-1002127
14. Old & Used Toyota Mark-X Car Reg. No. ANU-808 Model 2007 Chassis No. GRX120-3050526
15. Old & Used Toyota Corolla Saloon Car Reg. No. AAH-329 Model 1991 Chassis No. AE100-3063950
READ MORE: Peshawar Customs announces auction of motor vehicles on July 26, 2022
16. Old & Used Toyota Land Cruiser Prado Reg. No. BF-9736 Model 1999 Chassis No. VZJ95-0055467
17. Old & Used Toyota Hilux Surf Jeep Reg. No. X-52-AF/ X-52-89 Model 1992 Chassis No. LN130-7004751
18. Old & Used BMW CAR M3 Reg. No. BQC-568 Model 2002 Chassis No. WBSL92040JR02784
19. Old & Used BMW CAR M3 Reg. No. Nil Model 2002 Chassis No. WBSL92000JR02359
20. Old & Used Toyota Crown Royal Saloon Reg. No. AJB-585 Car Model 2004 Chassis No. GRS182-0017053
21. Old & Used Toyota Hilux Surf Jeep Reg. No. BD-3391 Model 1997 Chassis No. KZN185-9021416
22. Old & Used Toyota Land Cruiser Jeep Reg. No. AC-666 Model 2003 Chassis No. UJZ100-0147239
23. Old & Used Honda Civic Car Reg. No. ANB-300 Model 2008 Chassis No. JHMFD36B8S212257
24. Old & Used Toyota Hilux Surf Jeep Reg. No. BF-7898 Model 1999 Chassis No. RZN185-9023859
25. Old & Used Suzuki Swift Car Reg. No.AYU-137 Model 2005 Chassis No. ZC11S-126213
READ MORE: MCC Gwadar to auction motor vehicles on July 18, 2022
26. Old & Used Toyota Hi-Lux Surf Jeep Reg. No. JSA-449 Model 1998 Chassis No. VZN185-9023173
27. Old & Used Honda Civic Saloon Car Reg. No. APY-178 Model 2006 Chassis No. FD3-1002855
28. Old & Used Toyota Corolla Luxel Car Reg. No. GP-9041 Model 2004 Chassis No. ZZE122-3096314
29. Old & Used Toyota Hi-Lux Surf Jeep Reg. No. QAY-3013 Model 1995 Chassis No. KZN185-0004698
30. Old & Used Wrangler Jeep Reg. No. BG-8530 Model 1997 Chassis No. 1J4FY49S7VP511051
31. One Unit Old & Used Toyota Passo Car Model 2005 Reg. No. AUW-419 Chassis No. KGC10-0066546
32. One Unit Old & Used Suzuki Swift Car Model 2007 Reg. No. BAY-324 Chassis No. ZC71S-423182
33. One Unit Old & Used Honda Civic Saloon Car Model 2006 Reg. No. AQR-345 Chassis No. FD3-1100458
34. One Unit Old & Used Toyota ALTEZZA Car Model 1999 Reg. No.AHZ-343 Chassis No. GXE10-0015955
35. One Unit Old & Used Toyota Land Cruiser Model 2006 Reg. No. Nil Chassis No. GRJ120-5045389
36. One Unit Old & Used Toyota Vitz Car Model 2007 Reg. No. AAQ-119 Chassis No. NCP95-0026497
37. One Unit Old & Used Honda Civic Saloon Car Model 2008 Reg. No. AYF-144 Chassis No. FD3-1301865
38. One Unit Old & Used Toyota Hi-lux Surf Jeep Model 1996 Reg. BD-0681 Chassis No. RZN185-0019822
39. One Unit Old & Used Honda Civic Saloon Car Model 2006 Reg. No. APW-052 Chassis No. FD3-1004937
40. One Unit Old & Used Suzuki Swift Car Model 2007 Reg. No. AYR-491 Chassis No. ZC71S-426211
41. One Unit Old & Used Toyota Passo Car Model 2004 Reg. No. AXS-483 Chassis No. KGC10-0006422
42. One Unit Old & Used Toyota Vitz Car Model 2005 Reg. No. GP-0770 Sindh Chassis No. SCP90-0020090
43. One Unit Old & Used Honda Civic Car Model 2009 Reg. No. PX-650 Chassis No. FD3-1303199
44. One Unit Old & Used Honda Civic Car Model 2007 Reg. No. ANB-300 Chassis No. JHMFD36207S207S207S213050
45. One Unit Old & Used Toyota Land Cruiser Jeep ZX Reg. AAB-786 Model 2012 Chassis No. URJ202-4027315
46. One Unit Old & Used Toyot Land Cruiser Reg. No. BC-5831 Model 1999 Chassis No. HDJ101-0013385
47. One Unit Old & Used Toyota Surf Jeep Reg. No. GP-7700 Model 2001 Chassis No. VZN185-9053424
48. One Unit Old & Used Honda Cross Road Jeep Reg. No. BG-0335 Model 2007 Chassis No. RT1-1003734
49. One Unit Old & Used Toyota Mark-X Saloon Car Reg. No. BBD-048 Model 2006 Chassis No. GRX120-3013393
50. One Unit Old & Used Toyota Mark-X Car Reg. No. ARC-717 Model 2005 Chassis No. GRX121-1004300
51. One Unit Old & Used Toyota Premio Car Reg. No. BBQ-292 Model 2008 Chassis No. ZRT260-3047660
52. One Unit Old & Used Honda Civic Car Reg. No. AYX-712 Model 2008 Chassis No. JHMFD36208S207806
53. One Unit Old & Used Honda Civic Car Reg. No. AQB-554 Model 2006 Chassis No.FD3-1003537
54. One Unit Old & Used Honda Civic Car Reg. No. ANJ-726 Model 2007 Chassis No. FD3-1104004
55. One Unit Old & Used Honda Civic Car Reg. No.ARG-419 Model 2006 Chassis No. FD3-1005837
56. One Unit Old & Used Honda Civic Car Reg. No. ARQ-782 Model 2008 Chassis No. JHMFD36208S201588
57. One Unit Old & Used Honda Civic Car Reg. No. LEF-13-1131 Model 2007 Chassis No. FD3-1100388
58. One Unit Old & Used Suzuki Swift Car Reg. No. AAM-179 Model 2007 Chassis No. ZC71S-425811
59. One Unit Old & Used Suzuki Swift Car Reg. No. AGV-101 Model 2004 Chassis No. ZC11S104415
60. One Unit Old & Used Suzuki Swift Car Reg. No. AWX-050 Model 2004 Chassis No. ZC11S107033
61. One Unit Old & Used Suzuki Swift Car Reg. No. ATG-213 Model 2010 Chassis No. ZC71S-588825
62. One Unit Old & Used Suzuki Swift Car Reg. No. BDU-114 Model 2006 Chassis No. ZC21S-151748
63. One Unit Old & Used Suzuki Swift Car Reg. No. AXE-550 Model 2008 Chassis No. ZC71S-464926
64. One Unit Old & Used Toyota Vitz Car Reg. No. KV-286 Model 2002 Chassis No. NCP10-0167507
65. One Unit Old & Used Toyota Surf Jeep Reg. No. BG-0133 Model 2007 Chassis No. GRN215-8107741
66. One Unit Old & Used Cherokee Jeep Reg. No. BC-9877 Model 2001 1J4G858S41Y523609
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Peshawar Customs to auction motor vehicles on August 11, 2022
ISLAMABAD: Collectorate of Customs (Enforcement), Peshawar has announced auction of motor vehicles to be held on August 11, 2022 at state warehouses of Peshawar, Mardan and Nowshera.
The Collectorate issued the auction schedule for following vehicles:
LIST OF VEHICLES RIPE FOR AUCTION SWH GODOWN-E, PESHAWAR
01. Mercedes Benz (Bullet Proof) Model 1982, Chassis No. WDB-12603312037551
02. Toyota Corolla Car Model 1987 (As per Website), Chassis No. CE90-3002413
READ MORE: Gwadar customs auctions motor vehicles on July 28, 2022
03. Toyota Crown Car Model 2000 (As per Website), Chassis No. GS171-0001109
04. Toyota Hilux Surf Model 1990 (As per Website), Chassis No. LN130-0018395
05. Suzuki Splash Liana Car Model 2005 (As per documents), Chassis No. JSAERC11S00200283
06. Toyota State Car Model 1990 (As per Website), Chassis No. CE96-0089577
07. Toyota Fielder “X” Car Model 2002 (As per Website), Chassis No. NZE124-0018888
08. Toyota Corolla “X” Car Model 2000 (As per Website), Chassis No. NZE121-3021387
READ MORE: Peshawar Customs announces auction of motor vehicles on July 26, 2022
09. Toyota Corolla Car Model 1993 (As per Website), Chassis No. CE106-0049233
10. Toyota Corolla Car Model 1987 (As per Website), Chassis No. CE90-5002682
11. Toyota Corolla Car Model 1985 (As per Website), Chassis No. EE80-0060788
12. Toyota Corolla Car Model 1988 (As per Website), Chassis No. CE90-0023057
LIST OF VEHICLES RIPE FOR AUCTION SWH MARDAN
01. Toyota State Car Model 1990 ( As per Website), Chassis No. CE96-0106153
02. Toyota Corolla Car Model 1992 (As per Website), Chassis No. CE100-3025153
READ MORE: MCC Gwadar to auction motor vehicles on July 18, 2022
03. Toyota Estate Car Model 1998 (As per Website), Chassis No. CE100-0073091
04. Toyota Corolla Car Model 1990 (As per Website), Chassis No. CE90-0050358
05. Toyota Corolla Altis Car Model 2005 (As per Website), Chassis No. MRO53ZEC107097220
06. Toyota Corolla Car Model 2005 (As per Website), Chassis No. NZE121-3301287
07. Toyota Corolla Altis Car Model 2005 (As per Website), Chassis No. MRO53ZEC107096483
READ MORE: Customs to auction NDP vehicles on June 8, 2022
08. Toyota Vitz Car Model 2007 (As per Website), Chassis No. SCP90-5083411
LIST OF VEHICLES RIPE FOR AUCTION SWH NOWSHERA
01. Toyota Fielder “X” Car Model 2004 (As per Website), Chassis No. NZE121-0318355
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Ripple to Pakistani Rupee on August 05, 2022
KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs83.90 on August 05, 2022 at 06:00 AM Pakistan Standard Time (PST), in the open exchange market.
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Tax through electricity bills not taken back: clarification
ISLAMABAD: The federal government on Thursday clarified that the tax through electricity bills has not been taken back so far.
A clarification has been issued through official media of the government of Pakistan that news being released by some media channels that the government has taken back the decision of tax on electricity bills.
READ MORE: Pakistan’s tax agency collects Rs458 billion in July 2022
“It is clarified that there is no authenticity in such news and no decision has so far been taken by the govt. However talks are been held with traders and business community on taxes on electricity bills.”
The power utilities across the country have started collection of sales tax on retailers through the electricity bills for the month of July 2022.
The tax has been imposed on all commercial connections irrespective the nature of work or business at the premises where the electricity meter is installed.
READ MORE: FTO investigates tax collection through electricity bills
Following the issuance of bills for the month of July 2022 a huge resentment was seen from the retailers as well as service providers.
Service providers say that they were not liable to pay sales tax to the federal government as the provincial governments have jurisdiction over it.
READ MORE: Super tax to hammer auto business in Pakistan: Honda Atlas
However, Finance Minister Miftah Ismail recently held talks with business community and retailers to resolve the issue.
The finance minister promised that the issue would be resolved soon. He said that bills below 150 units would not be subject to the tax. The finance minister also assured the business community that other taxes on the electricity bills would also be withdrawn once the issue of fixed tax regime for retailers was settled.
READ MORE: FBR starts filling 502 vacancies in Inland Revenue
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FBR transfers 45 senior IRS officers in major reshuffle
The Federal Board of Revenue (FBR) executed a significant restructuring on Thursday, transferring 45 officers from the Inland Revenue Service (IRS) of BS-19 and BS-20.
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Pakistan’s trade deficit narrows by 18% in July 2022
ISLAMABAD: Pakistan’s trade deficit narrowed by 18 per cent in the month of July 2022, according to data released by Pakistan Bureau of Statistics (PBS) on Tuesday.
The contraction in trade deficit may be attributed to decline in import bill. The import bill of the country fell by 13 per cent to $4.86 billion in July 2022 as compared with $5.57 billion in the same month of the last year.
READ MORE: Pakistan’s import bill records over $80 bn in 2021/2022
However, the exports of the country also fell by 5.17 per cent to $2.22 billion in the month of July this year as compared with $2.34 billion in the same month of the last year.
The trade deficit sharply narrowed by 46.76 per cent to $2.64 billion in July 2022 when compared with $4.96 billion in June 2022.
The import billion declined by 38 per cent to $4.86 billion in July 2022 as compared with $7.88 billion in June 2022.
Meanwhile, the exports also fell by 24 per cent to $2.22 billion in July 2022 when compared with $2.92 billion in June 2022.
READ MORE: Pakistan’s trade deficit balloons $43.33 bn in 11 months
Analysts at KASB KTrade Securities attributed to the strict import control measures which were put in place last month.
They said this is the lowest trade deficit level in the last 15 months.
“We think this should support the current account situation and will provide some confidence to the investors regarding the ability of the government in dealing with macroeconomic challenges,” according to the analysts.
READ MORE: Pakistan’s imports hit record high at $65.47 bn in 10 months
The analysis shows that assuming no change in demand, a 40 per cent reduction in oil prices would turn the deficit into a surplus. This means that if Pakistan had the ability to get cheaper energy from Iran or from Russia, it could have been sufficient to bridge the trade deficit.
“Indeed, that could have had much punitive geo-economics implications and might not be a viable strategy. This also illustrates that if the oil price supply shock due to Ukraine war ends, Pakistan’s economy could return to a more stable condition.”
Building foreign exchange reserves is the only defense strategy against external economic shocks.
READ MORE: Pakistan’s March trade deficit widens by only 5.5%
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FBR transfers 20 senior officers in BS-20, BS-21
ISLAMABAD: The Federal Board of Revenue (FBR) in a major reshuffle on Monday transferred around 20 senior officers of BS-20 and BS-21 with immediate effect.
The FBR notified transfers of following officers:
01. Ch. Muhammad Tarique (Inland Revenue Service/BS-21) has been transferred and posted as Member, Federal Board of Revenue (HQ), Islamabad (Stationed at Lahore) from the post of Chief Commissioner, Corporate Tax Office, Lahore.
02. Tariq Mustafa Khan (Inland Revenue Service/BS-21) has been transferred and posted as Director General (Special Initiatives), Federal Board of Revenue (HQ), Islamabad (Stationed at Karachi) from the post of Chief Commissioner, Regional Tax Office I, Karachi.
READ MORE: Zubair Tiwana posted as Member IR-Operations
03. Sardar Ali Khawaja (Inland Revenue Service/BS-21) has been transferred and posted as Member (Public Relations), Federal Board of Revenue (HQ), Islamabad from the post of Member, (Audit & Accounting) Federal Board of Revenue (Hq), Islamabad.
04. Dr. Aftab Imam (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Medium Taxpayers Office, Karachi from the post of Chief Commissioner, Corporate Tax Office, Karachi.
05. Dr. Tauqeer Ahmad Memon (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Regional Tax Office II, Karachi from the post of Chief Commissioner, Regional Tax Office, Hyderabad.
06. Ahmad Shuja Khan (Inland Revenue Service/BS-21) has been transferred and posted as Member (Audit & Accounting), Federal Board of Revenue (HQ), Islamabad from the post of Chief Commissioner, Large Taxpayers Office, Lahore.
07. Ms. Ambreen Iftikhar (Inland Revenue Service/BS-21) has been transferred and posted at Director General, Directorate General of Anti Benami Initiative, Islamabad from the post of Member (Reforms & Modernization) Federal Board of Revenue (Hq), Islamabad.
READ MORE: FBR posts Ansari as Member Customs Operations
08. Mir Badshah Khan Wazir (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Large Taxpayers Office, Lahore from the post of Chief Commissioner, Medium Taxpayers office, Karachi.
09. Hyder Ali Dharejo (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Regional Tax Office I, Karachi from the post of Chief Commissioner, Regional Tax Office II, Karachi.
10. Ms. Sadia Sadaf Gillani (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Corporate Tax Office, Lahore from the post of Chief Commissioner, Regional Tax Office, Sialkot.
11. Muhammad Iqbal (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Large Taxpayers Office, Islamabad from the post of Chief Commissioner, Regional Tax Office, Rawalpindi. The officer will continue to hold the additional charge of the post of DG, DNFBPs, Islamabad. The officer will also continue the additional responsibility of the post of FATF Coordinator assigned vide Board’s Notification dated 08.12.2021.
12. Muhammad Abid Raza Bodla (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Regional Tax Office, Sialkot from the post of Chief Commissioner, Regional Tax Office, Sukkur.
13. Ardsher Saleem Tariq (Inland Revenue Service/BS-21) has been transferred and posted as Member (Reforms & Modernization), Federal Board of Revenue (HQ), Islamabad from the post of Director General, Anti Benami Initiatives, Islamabad.
READ MORE: Tariq Ghani posted as Director Intelligence IR Karachi
14. Mohammad Farooq Azam Memon (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Regional Tax Off ice, Hyderabad from the post of Member, Federal Board of Revenue (Hq), Islamabad.
15. Syed Syedain Raza Zaidi (Inland Revenue Service/BS-21) on return from deputation has been posted as Chief Commissioner Inland Revenue, Corporate Tax Office, Karachi.
16. Abdul Majid Yousfani (Pakistan Customs Service/BS-20) has been transferred and posted as Member (OPS) (Information Technology), Federal Board of Revenue (Hq), Islamabad from the post of Director General (OPS) Directorate General of Law & Prosecution, Islamabad. The officer will assume charge w.e.f 15.08.2022.
17. Ms. Tehmina Aamer (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue, (OPS) Regional Tax Office, Rawalpindi from the post of Commissioner (Audit – II) Corporate Tax Office, Islamabad
18. Imtiaz Ali Solangi (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue, Regional Tax Office, Sukkur from the post of Chief Commissioner, Regional Tax Office, Sargodha.
READ MORE: FBR transfers BS-19, BS-20 Customs officers
19. Abid Mehmood (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue, (OPS) Regional Tax Office, Multan relieving Ms. Zahida Sarfraz (IRS/BS-20) of the Look After Charge of the post of Chief Commissioner-IR, RTO, Multan. He has been transferred from the post of Chief, (Revenue Operations) Federal Board of Revenue (Hq), Islamabad.
20. Muhammad Tariq Arbab (Inland Revenue Service/BS-20) has been transferred and posted as Chief Commissioner Inland Revenue, Regional Tax Office, Sargodha from the post of Commissioner, Commissioner Inland Revenue (Appeals), Peshawar.
The FBR said that the officers who are drawing performance allowance prior to issuance of this notification shall continue to draw this allowance on the new place of posting.
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Zubair Tiwana posted as Member IR-Operations
ISLAMABAD: The Federal Board of Revenue (FBR) on Monday transferred and posted Malik Amjad Zubair Tiwana as Member Inland Revenue – Operations.
Zubair Tiwana is a BS-21 officer of Inland Revenue Service (IRS) and presently posted as Chief Commissioner, large Taxpayers Office, Islamabad.
READ MORE: FBR notifies promotion of three IRS officers to BS-22
The officer has been transferred and posted as as Member (Inland Revenue Operations), Federal Board of Revenue (HQ), Islamabad
The FBR said that the officer will assume the charge of the post of Member (IR-Operations) with effect from August 22, 2022 on retirement of Qaiser Iqbal (IRS/BS-21) current Member (IR-Operations), Federal Board of Revenue (HQ), Islamabad.
READ MORE: FBR starts filling 502 vacancies in Inland Revenue
In the intervening period the officer will serve as Member, Federal Board of Revenue (HQ), Islamabad, the FBR said.
If the officer is drawing performance allowance, prior to issuance of this notification, he will continue to draw the same on his new place of posting, the FBR added.
READ MORE: FBR posts Ansari as Member Customs Operations
The FBR directed the officer to send Charge Relinquishment / Assumption report to FBR after Relinquishment / Assumption of charge for record and further necessary action.
READ MORE: Commodities’ illegal movement to be treated as smuggling