Karachi, August 31, 2023 – The National Bank of Pakistan (NBP), the country’s largest public sector financial institution, has incurred penalties for regulatory violations at both its domestic and overseas branches, as confirmed by official documents.
(more…)Author: Shahnawaz Akhter
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FBR Files Complaint of Government Fund Misappropriation Against Senior PIA Officials
Karachi, August 31, 2023 – The Federal Board of Revenue (FBR) has officially registered a complaint against senior officials of Pakistan International Airlines (PIA) for alleged misappropriation of government funds, sources said on Thursday.
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US Dollar Soars to New Record High of PKR 305.25 in Intraday Trading
Karachi, August 31, 2023 – The relentless ascent of the US dollar against the Pakistani Rupee (PKR) reached a new peak on Thursday, with the exchange rate surging to an unprecedented high of PKR 305.25 during intraday trading.
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FBR Chairman to Address Taxation Concerns on Electricity Bills in Meeting with Karachi Traders
Karachi, August 30, 2023 – In an effort to alleviate mounting tensions sparked by exorbitant electricity bills, Malik Amjaz Zubair Tiwana, the Chairman of the Federal Board of Revenue (FBR), is set to convene a pivotal meeting with traders in Karachi on September 1, 2023, according to official sources.
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Flaws Detected in Assessment and Valuation of Mobile Phones
Karachi, August 30, 2023 – The Federal Tax Ombudsman (FTO) has issued a directive to customs authorities, urging them to rectify significant flaws in the assessment and valuation process of mobile phones.
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Pakistani Banks Report Remarkable Tripled Profitability in 2Q2023
Karachi, August 30, 2023 – Pakistan’s commercial banking sector has achieved an extraordinary three-fold increase in profitability during the second quarter of 2023.
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Petroleum Levy Soars to Record High Under PDM Government, Amidst Economic Challenges
In a recent revelation by Pakistan’s Ministry of Finance, the previous government, led by the Pakistan Democratic Movement (PDM), which comprised several prominent political parties, has left the nation grappling with a staggering burden of Rs 452 billion due to the imposition of a petroleum levy during the fiscal year 2022-23. This unprecedented financial load has raised concerns among citizens and policymakers alike.
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FBR Announces Income Tax Payment By Retailers Through Electricity Bills
Karachi, August 30, 2023 – The Federal Board of Revenue (FBR) has announced a new method for retailers to pay their income tax through their monthly electricity bills.
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FPCCI Demands Tax Exemption on Electricity Bills to Relieve Masses
Karachi, August 29, 2023 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for immediate sales tax exemptions on electricity bills to alleviate the financial burden on the public.
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FBR Notifies Organization of Customs Risk Management Directorate
Karachi, August 29, 2023 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing customs risk management by notifying the organization of the Directorate General of Customs Risk Management (DGCRM).
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