Pkrevenue.com

Author: Mrs. Anjum Shahnawaz

  • FBR opens recruitment for over 470 vacancies

    FBR opens recruitment for over 470 vacancies

    ISLAMABAD: Federal Board of Revenue (FBR) has started recruitment process of over 470 vacancies against up to Grade 5 posts.

    The FBR invited applications from Pakistani nationals on local basis having local/domicile of the relevant districts against vacant posts in field offices of Inland Revenue (IR).

    The FBR announced to recruit 143 sepoy in BS-05, 64 drivers in BS-04 and 266 naib qasid in BS-01.

    The FBR said that the applications should be submitted by May 25, 2021.

    The FBR advised the eligible candidates to submit their applications on the prescribed form available on FBR website and field offices to the Admin officers of the respective tax office. Candidates applying for more than one post should submit separate application form in separate envelope, clearly marked against the post applied for and obtain separate receiving of the same.

    The FBR further instructed the candidates to attach attested copies of CNIC and all relevant documents with application form. Candidates will, however, be required to bring original documents (educational and experience certificate) and one set of attested copies of document at the time of interview.

    The FBR further instructed the candidates to prescribe physical test for the posts of sepoy will be conducted for pre-screening of the candidate.

    The contract employees (Bs-01- 05) who are appointed under the prime minister assistance package for the families of government employees who died in service may also apply for the posts.

    The FBR has allocated 10 percent quota for women, five percent for minorities (non-Muslim) will be observed for all above posts, however, two percent quota for disabled persons will only be observed for the post of Naib Qasid as per government instructions.

    Disabled persons are required to submit a certificate as proof of disability duly issued by recognized social welfare board/officer or other authorized government organization.

    For further details:

    https://pkrevenue.com/wp-content/uploads/2021/05/RecruitmentBS-1-15IRDepartment.pdf

  • Applications invited for post of DG National Savings

    Applications invited for post of DG National Savings

    ISLAMABAD: The ministry of finance on Sunday invited applications for the post of Director General, Central Directorate of National Savings, Islamabad.

    The ministry said that prescribed qualification, experience, age limit and other terms of contract appointment under Management Position Scales Policy, 2020 (MP-I) scale are given as under:

    Qualification: Master degree in any of the disciplines: economics, statistics, commerce, accounting, finance, business administration, cost and management accountants, chartered accountants, or equivalent from an HEC recognized University / institutions.

    Experience: At least 18 years experience in the banking/ financial sector or in finance related positions in the public sector.

    Age Limit: minimum age 50 years; maximum age 62 years

    Period of Appointment: Three years extendable for further two years contingent upon result based performance.

    Place of Posting: Islamabad

    Termination of Contract: On one month’s notice on either side or payment of one month’s pay in lieu thereof.

    Pay Package: The pay package will be based on MP-I Scale and other incentives as per those admissible to officers in MP-I scale.

    The ministry said that interested applicants should submit applications through courier service alongwith their CVs and copies of testimonials duly verified by institutes and recent photographs within 15 days of the publication of the advertisement for above mentioned position.

    Only short listed candidates will be called for interview. The candidate must be citizen of Pakistan.

  • Amazon to increase global market access for Pakistan products: Pak-US Business Council

    Amazon to increase global market access for Pakistan products: Pak-US Business Council

    ISLAMABAD: Pak-US Business Council on Sunday welcomed the decision of US e-commerce giant ‘Amazon’ to add Pakistan to its seller list and said it would open doors for Pakistani exporters to access international markets.

    Founder chairman Pak US Business Council and President South Asian Association for Regional Cooperation, Chamber of Commerce and Industry Iftikhar Ali Malik said it was a major breakthrough for the country’s growing e-commerce industry as well as companies and professionals working in the digital space.

    He said the new development would hopefully put Pakistan on the global e-commerce map, opening up a new era of business boom by connecting it across the world.

    Talking to Jamil Ahmad Jamil Deputy Managing Director Punjab Small Industries Corporation who called on him here, Iftikhar Malik said it would now provide a new impetus and venue to Pak individual sellers to ship their products in small parcels to consumers outside Pakistan.

    Iftikhar Ali Malik said it would afford them an excellent opportunity to work on and develop their own brands for better prices. He said it is heartening to note that they would not have to worry about their payments as Amazon would directly transfer the money into their local accounts.

    It is a good omen that now small Pakistan sellers especially women and SME entrepreneurs who have goods and products needed by the consumers outside Pakistan but can not afford to have a big export set-up.

    For instance, he said they have a large Pakistani diaspora scattered across the countries, especially in the Gulf to cater their needs.

    He said it would enable a new breed of young entrepreneurs and SMEs including women to fully exploit foreign markets.

    He said this fate turning decision would drastically change the game and result in a new sphere of economic growth as more sellers to visit this platform than ever before, he added.

    Iftikhar Ali Malik urged young entrepreneurs derive maximum benefits once Amazon opens its seller registration for Pakistan. He stressed the need for focusing to fully ensure the international quality of products before export.

    He said Amazon like other international companies and brands, is a highly consumer-centric market place where consumer’s reviews are taken very seriously. Therefore, Pakistan entrepreneurs will have to be very careful if they desire to benefit from this opportunity.

    Jamil Ahmad Jamil emphasised that trend of e-commerce had accelerated in recent years with the development and easy accessibility of internet. He said due to covid 19 pandemic, the importance of e-commerce had increased manifolds making it an extremely vital sector of economy.

    He said Pakistan e-commerce market itself has grown dramatically over the last one year and is estimated to have expended by 35 percent in his quarter of the current fiscal to Rs 96 billion from Rs 71 billion a year ago. He said we are planning to involve our SMEs to join this gateway with the best ever quality products of international standards.

    He said Pakistan was the only South Asian state, which was not on the list of the 120 countries on the Amazon platform in spite of being the second largest economy in the region.

  • FBR urged to prescribe time limit for audit conclusion

    FBR urged to prescribe time limit for audit conclusion

    The Karachi Tax Bar Association (KTBA) has called upon the Federal Board of Revenue (FBR) to institute a definitive time limit for concluding audit proceedings in sales tax cases.

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  • FBR appoints CEO for Pakistan Single Window Company

    FBR appoints CEO for Pakistan Single Window Company

    ISLAMABAD: Federal Board of Revenue (FBR) has invited application for appointment of Chief Executive Officer (CEO) of Pakistan Single Window Company (PSWC). The application for the post may be submitted by May 23, 2021.

    The FBR said that PSWC is a public sector company incorporated under Section 42 of the Companies Act, 2017 by Pakistan Customs, which is the designated lead agency to implement trade related Single Window.

    PSWC is to act the operating entity under PSW Act 2021 for development, implementation and maintenance of PSW system. The company is headquartered at Islamabad with a site office at Karachi.

    The PSW company requires a transformational and passionate individual to lead the company as CEO. The CEO will be responsible for the overall leadership and management of PSW and achievement of its stated objectives. “He/she will be responsible to ensure that the PSW system is developed and implemented as per the project timelines and in accordance with global best practices.”

    He/she will also be responsible for creating and nurturing a conducive environment for technological innovation, reforms and development of IT based solutions for trade facilitation.

  • Pakistan, Saudi Arabia agree to strengthen bilateral economic ties

    Pakistan, Saudi Arabia agree to strengthen bilateral economic ties

    JEDDAH, Saudi Arabia: Prime Minister Imran Khan met His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud in Jeddah and held wide-ranging talks on bilateral, regional and international issues. The talks were marked by exceptional cordiality and a commitment to fortify the upward trajectory in the bilateral relationship.

    The Prime Minister conveyed sincere regards to the Custodian of the Two Holy Mosques, His Majesty King Salman bin Abdulaziz, and thanked the Crown Prince for his gracious invitation to him to visit the Kingdom.

    The Prime Minister expressed gratitude for affording him the opportunity to visit the two Holy Mosques during the special days of Ramadan.

    The two leaders reaffirmed the strong and historic bonds between the two countries rooted firmly in shared beliefs, common values, mutual trust and longstanding tradition of mutual support.

    The Prime Minister reiterated Pakistan’s abiding support for the sovereignty and territorial integrity of the Kingdom, and expressed special reverence accorded to the Land of the Two Holy Mosques by the people of Pakistan.

    During the meeting, it was agreed to further strengthen, deepen and diversify the existing bilateral political, economic, trade, defence and security ties.

    Special emphasis was laid on increasing Saudi investments in Pakistan, collaboration in the field of energy, and increased job opportunities for Pakistanis in Saudi Arabia.

    The Prime Minister appreciated the Crown Prince’s recently launched “Green Saudi Arabia and Green Middle East” initiatives and hoped to build upon the synergies between the vision of the Crown Prince and his own environment-related initiatives including the “10 Billion Trees Tsunami”.

    Acknowledging the positive and constructive role of more than two million Pakistani Diaspora in the Kingdom, the two leaders discussed ways to maximize mutual benefit from cooperation in the human resource sector.

    The Prime Minister thanked the Saudi leadership for taking considerate measures for the welfare of Pakistani expatriates during the COVID-19 pandemic. Views were exchanged on regional and international issues. The Prime Minister outlined his vision of a peaceful neighborhood to advance the objectives of national economic development.

    Highlighting the situation in IIOJK, the Prime Minister stressed the importance of peaceful resolution of the Jammu and Kashmir dispute. The Prime Minister also highlighted Pakistan’s consistent efforts to support peace and reconciliation in Afghanistan.

    The Prime Minister lauded the Crown Prince for the Kingdom’s efforts and initiatives aimed at reinforcing and further promoting regional peace and security. After the meeting, the Prime Minister and the Crown Prince signed the Agreement on Establishment of the Saudi-Pakistan Supreme Coordination Council (SPSCC). The Council, co-chaired by the Prime Minister and the Crown Prince, is designed to impart strategic direction to the development of Pakistan-Saudi relations.

    The Prime Minister expressed the hope that the SPSCC will play a catalytic role in fostering enhanced bilateral cooperation in all fields.

    The two leaders also witnessed signing of a number of bilateral agreements/Memoranda of Understanding (MoU), including Agreement on Cooperation in the Field of Combating Crimes; Agreement on Transfer of Convicted Individuals (Prisoners); MoU on Combating Illicit Traffic in Narcotic Drugs; Psychotropic Substances and Precursor Chemicals; and Framework MoU for financing of projects (totaling up to USD 500 million) in energy, hydropower generation, infrastructure, transport and communication and water resource development.

    The Prime Minister extended an invitation to HRH the Crown Prince to visit Pakistan at the earliest convenience. Earlier, upon arrival at Jeddah airport, Prime Minister Imran Khan was received warmly by HRH Crown Prince Mohammad bin Salman.

  • FPCCI urges tax authorities to facilitate edible oil manufacturers

    FPCCI urges tax authorities to facilitate edible oil manufacturers

    KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the tax authorities to facilitate edible oil manufacturers by excluding from a notification related to commercial importers.

    According to a statement issued on Saturday FPCCI Vice President Nasir Khan strongly condemned the inclusion of Edible Oils in the S.R.O. 1190(I)/2019 issued by the Federal Board of Revenue (FBR).

    As a matter of principle, this SRO should have been restricted to commercial importers instead of including edible oil manufacturers. Therefore, one of the major disruptions this SRO has caused is that edible oil manufacturers have massively decreased their imports and major imports have been taken over by the commercial importers.

    Nasir Khan has noted that this notification/SRO has resulted in a straight 10 percent increase in the cost of importing edible oils in the country. Contrarily, during the same period, India and Bangladesh have reduced the cost of importing edible oils in their countries by 10 percent and 4 percent through providing various relief measures to edible oil manufacturers.

    Moreover, Nasir Khan has said that instead of providing billions of rupees to Utility Stores Corporation (USC) to sell subsidized edible oils, the federal government should facilitate edible oil manufacturers. In that manner, they will be able to cut down the edible oil prices; and, provide better and greater relief to consumers in the entire country than the USC could ever achieve. This illogical and illegal inclusion has caused more than 10 percent increase in edible oil prices due to hoarding by commercial importers.

    FPCCI demands immediate withdrawal of inclusion of edible oil manufacturers from above-mentioned SRO to help edible oil manufacturers to avoid bankruptcy and continue to play their role in economic growth and employment generation.

  • Weekly Review: stock market to remain shut for Eid Holidays

    Weekly Review: stock market to remain shut for Eid Holidays

    KARACHI: The Pakistan Stock Exchange (PSX) will remain closed next week due to a week-long holiday announced by the government for Eid ul Fitr celebrations. This decision will provide market participants with an extended break amidst the festive season.

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  • Banks make cash recovery of Rs21.17bn against Non Performing Loans

    Banks make cash recovery of Rs21.17bn against Non Performing Loans

    KARACHI: Banks have made cash recovery of an amount of Rs21.17 billion against non-performing loans (NPLs) during the quarter ended March 31, 2021, according to data released by State Bank of Pakistan (SBP) on Friday.

     The cash recovery against NPLs was Rs49.23 billion for the quarter ended December 31, 2020. Therefore, the recovery fell by 57 percent when compared the two quarters.

    The breakup revealed that all commercial banks made cash recovery of Rs15.98 billion during quarter ended March 31, 2021 as compared with Rs27.4 billion in the quarter ended December 31, 2020.

    The data showed that the public sector banks could only made recovery of Rs2.55 billion during the quarter under review as compared with Rs11.06 billion in the preceding quarter.

    It also revealed that the local private banks made cash recovery of Rs13.4 billion against NPLs during the quarter ended March 31, 2021 as compared with Rs16.33 billion during the quarter ended December 31, 2020.

    Total NPLs of all banks and Development Financial Institutions (DFIs) for the quarter ended March 31, 2021 increased to Rs866.74 billion while net NPLs for the quarter were Rs110 billion.

    Whereas, the total NPLs for all banks and DFIs for the quarter ended December 31, 2020 were Rs844.66 billion while net NPLs for the quarter were Rs100 billion.

  • Customs stations to remain operational during Eid Holidays

    Customs stations to remain operational during Eid Holidays

    ISLAMABAD: Federal Board of Revenue (FBR) on Friday directed customs collectorates to observe normal working hours during Eid Holidays in order to facilitate trade and industry to clearance their goods.

    The FBR directed the customs station to observe normal working days on May 08, May 10 and May 11 of 2021. The FBR said that the State Bank of Pakistan (SBP) had already issued instructions to banks to open their branches on the dates mentioned above.

    The customs field offices had been instructed to issue duty schedule during Eid holidays to their officers in order to ensure consignment clearance during these days, especially those consignments having perishable items.

    The FBR said that port authorities, terminal operators and dry ports had been informed about the customs operations during Eid Holidays. Further, trade and industries have also been informed about the decision.

    The FBR said that the decision has been taken to ensure timely customs clearance of imported goods so the industrialists meet their export orders extended Eid holidays that were announced to prevent spread of coronavirus.