Author: Mrs. Anjum Shahnawaz

  • Ericsson strengthens network services portfolio

    Ericsson strengthens network services portfolio

    KARACHI:  Ericsson has strengthened its network services portfolio with the Intelligent Deployment solution – an agile, digital, and modular suite of tools and services that enable communications service providers to roll out, expand, and upgrade networks based on their specific needs and those of their customers, a statement said on Wednesday.

    With technology advancing rapidly, networks are becoming more complex and diverse. This places an increasing demand for a network deployment best suited to the needs of service providers, with a quick return on investments and future proof.

    With this in mind, Ericsson has redesigned network rollout for the 5G age with Intelligent Deployment. As the building block for optimum network life cycle management, it connects network design, installation, integration, acceptance, maintenance, and services evolution.

    The solution comprises enablers such as artificial intelligence (AI), automation, and a data-driven cloud-based architecture that support different functionalities service providers can use such as Intelligent Site Engineering, Intelligent Integration, and Remote Access.

    Intelligent Deployment will deliver the right network at the right time and use network data for continuous development and improvement. Data-driven and digitalized processes allow service providers to make network management decisions quicker and more effectively to meet market and user expectations. The integration of AI will ensure the evolution of the network with the changing times.

    Nello Califano, Head of Strategy and Portfolio Management, Ericsson Business Area Networks, says: “With our Intelligent Deployment solution, we are vastly improving the way we deploy networks, making it more agile, flexible, and responsive to customer needs. This means we can deliver parts of our portfolio to service providers based on their specific requirements. We use extensive data insights to offer new services as well as pre-empt problems when introducing intelligent monitoring of the network even after the end of deployment. By investing more in our network services, we create better solutions for our customers.”

    The solution includes outcome-based (buying professional services), subscription-based (buying access to standalone capabilities or to the entire offering), or a mix of both as and when needed for the entire intelligent deployment process or specifically for network deployment services.

    This enables service providers to secure higher accuracy, transparency, and cost-efficiency from site survey to acceptance, more flexibility change management, and faster time to market.

    Intelligent Deployment is built on trust and data integrity, affording service providers an end-to-end information process, guiding the workflow at every stage of their services. At the same time, it will ensure the security and safety of data, providing user-friendly solutions and adopting any legal restrictions of the country where they operate.

    In the UK, Vodafone is using Ericsson’s Intelligent Deployment solutions to speed up network upgrades. Drones and Lidar-based 3D technology are collecting high-definition imagery and data across 70 sites to deliver more digitalized and efficient network deployment.

  • Financing for Mera Pakistan Mera Ghar gains momentum

    Financing for Mera Pakistan Mera Ghar gains momentum

    KARACHI: State Bank of Pakistan (SBP) on Wednesday said that as a result of numerous measures of the SBP and full support of the government, bank lending for the government’s flagship markup subsidy scheme, commonly known as Mera Pakistan Mera Ghar (MPMG), has picked up momentum.

    Since the launch of the scheme, applications of Rs 154 billion under MPMG have been received by banks and banks have approved housing finance of over Rs 59 billion up till August 31, 2021. Similarly, the pace of disbursement under MPMG that was initially slow because of a number of factors, including the availability of housing units, has also picked up.

    By August 31, 2021, disbursement under the scheme has reached Rs 11.5 billion, showing an increase of around Rs 3.8 billion or 49 per cent in August 2021.

    On average, to date banks have approved 38 percent of the amount applied and 19 percent of the approved amount has been disbursed.

    These approval and disbursement ratios have similarly risen over the past few months as banks have put in place the needed upfront investment in procedures and technology to process applications for low-cost housing.

    It would be pertinent to mention here that banks disbursed amounts in different stages of construction or purchase. Thus the pace of disbursement is contingent upon the speed of construction and completion of the purchasing process.

    Since the announcement of MPMG scheme last year, SBP has taken various enabling steps such as introducing standardized and simple application form; adopting an informal income assessment model; providing relaxations in prudential regulations; establishing helpdesks at all SBP field offices; and, designing a complaint portal supported by a network of focal persons of all banks across all geographical areas.

    On the instructions of SBP, banks are accepting MPMG applications from over 8,000 dedicated branches across the country. Further, SBP has also allocated targets to each bank under MPMG.

    An e-tracking system within each bank and a dedicated joint call center for the facilitation of the applicants have also been established. Naya Pakistan Housing Development Authority (NAPHDA) and Pakistan Banks’ Association (PBA), a representative body of banks, are fully supporting MPMG.

    It is expected that with the ongoing efforts by SBP, Government, and Banks, bank finance for MPMG will gain further momentum in the days to come.

  • Dollar jumps up to Rs167.63 in interbank forex market

    Dollar jumps up to Rs167.63 in interbank forex market

    KARACHI: The US dollar surged to Rs167.63 against the Pakistani Rupee (PKR) on Tuesday in the interbank foreign exchange market, marking a significant rise that places it near its all-time high of Rs168.44, recorded on August 26, 2020.

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  • Process of IT licensing for Tier-1 retailers to take time

    Process of IT licensing for Tier-1 retailers to take time

    ISLAMABAD:  Federal Board of Revenue (FBR) on Tuesday said that the process of licensing the IT Service Providers for integration of Tier-1 retailers will take time.

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  • SBP issues customers exchange rates for September 07

    SBP issues customers exchange rates for September 07

    Karachi, September 07, 2021 – The State Bank of Pakistan (SBP) has issued the exchange rates for customers on Monday, September 07, 2021.

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  • Powers to initiate recovery proceeding any time

    Powers to initiate recovery proceeding any time

    The Federal Board of Revenue (FBR) has reinforced its authority to initiate and streamline recovery proceedings against tax defaulters with the introduction of Sections 146A, 146B, and 146C in the Income Tax Ordinance, 2001.

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  • Tax recovery from persons in AJK, Gilgit-Baltistan

    Tax recovery from persons in AJK, Gilgit-Baltistan

    Section 146 of Income Tax Ordinance, 2001 has outlined the procedure for tax recovery from persons assessed in Azad Jammu and Kashmir (AJK) and Gilgit-Baltistan.

    The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021.

    Following is the text of Section 146 of the Income Tax Ordinance, 2001.

    146. Recovery of tax from persons assessed in Azad Jammu and Kashmir and Gilgit-Baltistan.— (1) Where any person assessed to tax for any tax year under the law relating to income tax in the Azad Jammu and Kashmir or Gilgit-Baltistan has failed to pay the tax and the income tax authorities of the Azad Jammu and Kashmir or Gilgit-Baltistan cannot recover the tax because —

    (a) the person’s resi44dence [edit: residence] is in Pakistan; or

    (b) the person has no movable or immovable property in the Azad Jammu and Kashmir or Gilgit-Baltistan, the Deputy Commissioner in the Azad Jammu and Kashmir or Gilgit-Baltistan may forward a certificate of recovery to the Commissioner and, on receipt of such certificate, the Commissioner shall recover the tax referred to in the certificate in accordance with this Part.

    (2) A certificate of recovery under sub-section (1) shall be in the prescribed form specifying —

    (a) the place of residence of the person in Pakistan;

    (b) the description and location of movable or immovable property of the person in Pakistan; and

    (c) the amount of tax payable by the person.

    (Disclaimer: The text of the above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

  • Tax assessment of persons about to leave Pakistan

    Tax assessment of persons about to leave Pakistan

    Section 145 of Income Tax Ordinance, 2001 has explained the assessment of any person who is likely to leave Pakistan during the current tax year or shortly after its expiry.

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  • Tax treatment of non-resident owner of aircraft

    Tax treatment of non-resident owner of aircraft

    Section 144 of Income Tax Ordinance, 2001 deals with the tax treatment of a non-resident aircraft owner or charterer liable to tax.

    The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021.

    Following is the text of Section 144 of the Income Tax Ordinance, 2001.

    144. Non-resident aircraft owner or charterer. — (1) A non-resident owner or charterer of an aircraft liable for tax under section 7, or an agent authorised by the non-resident person for this purpose, shall furnish to the Commissioner, within forty-five days from the last day of each quarter of the financial year, a return, in respect of the quarter, showing the gross amount specified in sub-section (1) of section 7 of the non-resident person for the quarter.

    (2) Where a return has been furnished under sub-section (1), the Commissioner shall, after calling for such particulars, accounts or documents as he may require, determine the amount of tax due under section 7 by the non-resident person for the quarter and notify the non-resident person, in writing, of the amount payable.

    (3) The non-resident person shall be liable to pay the tax notified under sub-section (2) within the time specified in the notice and the provisions of this Ordinance shall apply to such tax as if it were tax due under an assessment order.

    (4) Where the tax referred to in sub-section (3) is not paid within three months of service of the notice, the Commissioner may issue to the authority by whom clearance may be granted to the aircraft operated by the non-resident person a certificate specifying the name of the non-resident person and the amount of tax due.

    (5) The authority to whom a certificate is issued under sub-section (4) shall refuse clearance from any airport in Pakistan to any aircraft owned or chartered by the non-resident until the tax due has been paid.

    (Disclaimer: The text of the above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

  • Pak-Qatar Takaful, PakWheels ink pact for auto products

    Pak-Qatar Takaful, PakWheels ink pact for auto products

    KARACHI: Pak-Qatar General Takaful has signed a Memorandum of Understanding (MoU) with PakWheels.com to promote auto Takaful products to its customers.  

    Mehmood Arshad, Country Head – Marketing Pak-Qatar General Takaful and Suneel Sarfaraz Munj, Chairman PakWheels.com signed the Memorandum of Understanding along with senior officials, said a statement on Monday.

    Since its inception in 2003, PakWheels.com has helped millions of Pakistanis buy and sell automobiles, read automotive reviews and news, check automotive prices and find solutions to all of their automotive needs. 

    PakWheels.com gets over 25 million visitors annually who view more than 250 million pages on the website. Last year alone, close to 50 per cent of Pakistan’s internet population visited PakWheels.com to buy and sell over 400,000 vehicles.

    While speaking at the signing ceremony, Mehmood Arshad stated: “It is indeed great honor for us to join hands with PakWheels.com as this partnership will bring fruitful results for both business partners. Also, masses will benefit from seeking protection for their vehicles in case of any untoward incident.” 

    Suneel Sarfaraz Munj, Chairman PakWheels.com commented: “We are glad to sign this Memorandum of Understanding with Pak-Qatar General Takaful as we are hopeful that our customers will benefit from Motor Takaful coverage offered by PQGTL.

    I am confident that such kind of partnerships will further offer convenience to online customers.”