Karachi, July 5, 2024 – United Bank Limited (UBL) has successfully concluded the sale of its entire shareholding in United National Bank Limited (UNBL) UK, marking a strategic shift aimed at enhancing its financial position and shareholder returns.
(more…)Author: Shahnawaz Akhter
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Farrukh Khan Steps Down as PSX CEO
Karachi, July 5, 2024 – In a surprise move, Farrukh H Khan resigned today from his position as Chief Executive Officer (CEO) of the Pakistan Stock Exchange (PSX).
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Finance Act, 2024: Intelligence Bureau to Assist Pakistan Customs
Karachi, July 5, 2024 – The Finance Act, 2024, has empowered the officers of Pakistan Customs to seek assistance from the Intelligence Bureau (IB) for resolving particular cases.
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FBR Announces Major Reshuffle of 51 Senior Customs Officers
Karachi, July 4, 2024 – In a significant administrative move, the Federal Board of Revenue (FBR) of Pakistan has announced a comprehensive reshuffle affecting 51 senior officers within the Pakistan Customs Service (PCS).
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KTBA Flags Technical Issue Post SRO 350 for Sales Tax Returns
Karachi, July 4, 2024 – The Karachi Tax Bar Association (KTBA) has identified a critical impediment affecting taxpayers’ ability to submit their final sales tax returns following the issuance of SRO 350.
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SBP Reports $494 Million Increase in Weekly Forex Reserves
Karachi, July 4, 2024 – The State Bank of Pakistan (SBP) has announced a notable increase of $494 million in its official foreign exchange reserves for the week ending June 28, 2024, reflecting positive inflows from multilateral agencies.
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FBR Makes Batch of 27 BS-20 Officers as OSD
Karachi, July 4, 2024 – In a sweeping move aimed at cleansing its ranks of alleged incompetence and corruption, the Federal Board of Revenue (FBR) has relegated a cohort of 27 officers to Officer on Special Duty (OSD) status.
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Petrol Pumps Face Shutdown as PPDA Announces Strike on July 5
Karachi, July 4, 2024 – Pakistanis are urged to fill their tanks today as the Pakistan Petroleum Dealers Association (PPDA) prepares for a nationwide strike starting tomorrow, July 5th. The strike, which could last more than a day, comes after failed negotiations between the PPDA and the government regarding a newly imposed tax.
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SBP Tightens Oversight on Foreign Currency Accounts
Karachi, July 3, 2024 – The State Bank of Pakistan (SBP) on Wednesday issued a directive to all banks, requiring detailed submissions of transactions conducted through foreign currency accounts (FCA).
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SRB Introduces 3% Sales Tax for Hospital Rooms and Beds
Karachi, July 3, 2024 – The Sindh Revenue Board (SRB) has implemented a reduced rate of 3% sales tax on services provided by hospitals for rooms and beds, effective from July 1, 2024.
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