FBR extends warehousing period up to July 31
ISLAMABAD: The Federal Board of Revenue (FBR) has taken a significant step by extending the warehousing period for already in-bonded goods up to July 31, 2020.
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Author: Mrs. Anjum Shahnawaz
Record $2.46 billion as remittances received in June
KARACHI: State Bank of Pakistan (SBP) on Monday said that the workers’ remittances rose by a significant 50.7 percent during June 2020 to reach record high $2.46 billion compared with $1.63 billion in June 2019. Similarly, on a cumulative basis, workers’ remittances increased to a historic high level of $23.12 billion during FY20, witnessing a […]
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Rupee weakens by 28 paisas on demand for import, corporate payments
KARACHI: The Pak Rupee weakened by 28 paisas against dollar on Monday owing to higher demand of greenback on opening of market after weekly holidays. The rupee ended Rs166.63 to the dollar from last Friday’s closing of Rs166.35 in interbank foreign exchange market. Currency experts said that the market was reopened after two weekly holidays […]
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Pakistan allows Afghan transit trade through Wagah from July 15
ISLAMABAD: Pakistan has allowed Afghan exports through Wagah border crossing from July 15, 2020, said a statement on Monday. At the special request of the Government of Afghanistan and with a view to facilitating Afghanistan’s transit trade, Pakistan has decided to resume Afghan exports through Wagah border crossing from July 15, 2020, after implementing COVID-19 […]
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Taxpayers need to update profile to ensure active status
ISLAMABAD: Taxpayers are mandatorily required to update their profit in order to keep their name in the Active Taxpayers List (ATL), sources in Federal Board of Revenue (FBR) said. Amendment has been made to Income Tax Ordinance, 2001 through Finance Act, 2020, which is approved by the National Assembly. A new sub-section 2 has been […]
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Prime Minister emphasizes out-of-box solution for economic growth amid COVID
ISLAMABAD: Prime Minister Imran Khan has emphasized out-of-the-box solutions are required for economic growth in these crucial times. “COVID-19 has adversely impacted the world economy and of Pakistan too,” he said while chairing a meeting of the Finance and Economy Think-Tank on Saturday. He stated that from day one, the government adopted a strategy to […]
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SBP imposes monetary penalty of Rs1.68 billion on 15 banks
KARACHI: State Bank of Pakistan (SBP) has imposed monetary penalty of Rs1.68 billion upon at least 15 commercial banks for violating various regulations including anti-money laundering (AML) and counter financing of terrorism (CFT). The SBP on Saturday released the data of significant enforcement actions by the central bank during March – June 2020. The top […]
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Weekly Review: stock market may maintain positive momentum
KARACHI: The stock market may maintain positive momentum during the next week owing to improvement sentiments and ease in cases related to COVID-19. Analysts at Arif Habib Limited expect the market to maintain its positive momentum in the coming week. Investor’s sentiment is expected to improve further on account of continuous decline in COVID-19 cases […]
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Pakistan makes substantial progress in completing remaining FATF Action Plan: Hafeez Shaikh
ISLAMABAD: Pakistan has made substantial progress towards completing remaining action plan of Financial Action Task Force (FATF) through increasing the effectiveness of its AML/ CFT Regime, Dr Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue told International Financial Accountability.
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FBR promotes 29 officials to post of assistant private secretary
ISLAMABAD: Federal Board of Revenue (FBR) has notified promotions of 29 steno-typists (BS-14) to the post of Assistant Private Secretary (BS-16). In a notification issued on Friday (July 10) the FBR notified promotions of following officials: 01. Aurangzeb, RTO, Peshawar 02. Waseem Iqbal, RTO, Islamabad 03. Sulaiman Ahmed, RTO, Islamabad 04. Allah Ditta, RTO, Rawalpindi […]
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