KARACHI: State Bank of Pakistan (SBP) on Thursday issued the following Karachi Interbank Offered Rates (KIBOR) on September 30, 2021.
| Tenor | BID | OFFER |
| 1 – Week | 7.19 | 7.69 |
| 2 – Week | 7.25 | 7.75 |
| 1 – Month | 7.31 | 7.81 |
| 3 – Month | 7.53 | 7.78 |
| 6 – Month | 7.90 | 8.15 |
| 9 – Month | 8.21 | 8.71 |
| 1 – Year | 8.43 | 8.93 |
KARACHI: The State Bank of Pakistan (SBP) on Thursday imposed 100 per cent cash margin restriction on import of additional 114 items.
The SBP in a notification referred to BPRD Circular No. 02 of 2017 and BPRD Circular No. 5 of 2018 on the captioned subject, as amended from time to time.
In that regard, it has been decided that banks, with immediate effect, shall obtain 100 percent cash margin on the import of items listed below.
Furthermore, it has been decided to waive the condition of 100 percent cash margin requirement on imports made against HS Code 8414.8090-Air Pumps and Gas Compressors (S. No. 17 of Annexure-A of BPRD Circular No. 05 of 2018).
All other instructions contained in the aforementioned Circulars shall, however, remain unchanged.
List of Items to be subjected to 100% Cash Margin Requirements
| S. No | HS Code | Description |
| 1 | 9041110 | PEPPER,BLACK,CRUSH NOT GROUND |
| 2 | 9083120 | SMALL CARDAMONS NITHER-CRU/GRO |
| 3 | 12024200 | GROUND-NUTS SHELLED BROKEN/N-B |
| 4 | 12030000 | COPRA |
| 5 | 14049020 | BETAL LEAVES |
| 6 | 15132900 | OTH PALM KERNEL/BABASSU OIL |
| 7 | 15162010 | VEGETABLE FAT & ITS FRACTIONS |
| 8 | 15179000 | OTH MARGARIN,EDIB MIX/PREP ETC |
| 9 | 23040000 | OIL-CAKE/OTH S/RESID SOYABEAN |
| 10 | 23066000 | OIL CAKE/OTH RESIDUE,PALM NUTS |
| 11 | 23099000 | OTH PREPARATION FOR ANIMAL FEE |
| 12 | 24012000 | TOBACO-WHOLY/PARTLY STE/STRIP |
| 13 | 63014000 | BLANKET/TRAVEL RUGS OF SYN FIB |
| 14 | 69072119 | OTH FLAGS,PAVING WAT AB 0.5% |
| 15 | 69072219 | OTH FLAGS,PAV WAT AB >0.5%<10% |
| 16 | 69072390 | OTH,CERAMICS WAT AB >10% |
| 17 | 70109000 | OTH CARBOYS BOTT,FLASK,JAR,POT |
| 18 | 70134900 | O-GL-WARE L-C-EX=5×10 T,0-300C |
| 19 | 85444990 | OTH MULTI CORE CABLE |
| 20 | 87059000 | OTH SPECIAL PURPOSE MOTOR VEHL |
| 21 | 87082939 | BODY PARTS OF OTHER VEHICLES |
| 22 | 87084090 | OTH GEAR BOXES/PART OTH VEHICL |
| 23 | 87141020 | COMPPONNENT FOR VEHICLE-H-8711 |
| 24 | 1019000 | OTHER LIVE ANIMALS |
| 25 | 0805 | OTHER SIMILAR CITRUS HYDRIDS (0805.2100,0805.2200,0805.2910,0805.2990) |
| 26 | 0808 | PEARS AND QUINCES, FRESH (0808.3000,0808.4000) |
| 27 | 9081100 | NUTMEG NEITHER CRUSHED/GRO |
| 28 | 9083110 | LARGE CARDAMOMS NITHER-CRU |
| 29 | 10049000 | OTHER OATS |
| 30 | 10061090 | OTH RICE IN HUSK (PADDY/RO |
| 31 | 10079000 | OTHER GRAIN SORGHUM(JAWAR) |
| 32 | 12024100 | OTH GROUND NUTS IN SHELL |
| 33 | 22029100 | NON-ALCOHOLIC BEER |
| 34 | 22029900 | OTH WATER |
| 35 | 34011910 | OTHER BABY WIPES |
| 36 | 34011990 | OTH,SOAP ORG-SURFAC-ACT PR |
| 37 | 40112011 | RADIAL RUBB TYRE FOR LIGHT |
| 38 | 40112019 | OTH RUBB TYRE FOR LIGHT TR |
| 39 | 40112091 | RADIAL TYRE RUBBER FOR BUS |
| 40 | 40112099 | OTH PNEUM TYRE RUBBER FOR |
| 41 | 40114000 | NEW PNEUM TYRE RUBB MOTORC |
| 42 | 69072111 | TILES POLISHED WAT AB 0.5% |
| 43 | 69072190 | OTH,CERAMICS WAT AB 0.5% |
| 44 | 69072211 | TILE POLISHED WAT AB >0.5% |
| 45 | 69072290 | OTH,CERAMICS WAT AB >0.5%< |
| 46 | 69072319 | OTH FLAGS,PAVINGS WAT AB > |
| 47 | 69073000 | MOSAIC CUBES AND SIMLAR AR |
| 48 | 69074000 | FINSHING CEREMICS |
| 49 | 73211119 | OTHER COOKING RANGES |
| 50 | 84151019 | OTH WINDOW/WALL TYPE AC/SP |
| 51 | 84151029 | S-CON AC/SPLIT INER-OUTER |
| 52 | 84151039 | TROPICAL MPS MUL-SYS UNIT> |
| 53 | 84151099 | OTH AC MACH MOTOR DRIVEN F |
| 54 | 84158190 | O-AC INCOR REFRI UNIT VALV |
| 55 | 84158290 | O- AC INCOR REFRIGIRATING |
| 56 | 84158390 | O-AC NOT INCROPO REFRIG UN |
| 57 | 84181090 | OTH COMB REFRIG-FREEZ W-DO |
| 58 | 84182190 | OTH REFRIG H-HOLD COMPRES |
| 59 | 84182990 | OTH REFRIGERATOR HOUSHOLD |
| 60 | 84183090 | OTH FREEZER CHEST TYPE-800 |
| 61 | 84184090 | OTH FREZER UPRIGHT TYP-900 |
| 62 | 84191190 | OTH INST GAS WATER HEATER |
| 63 | 84501190 | OTH WASHIN MACH FUL-AUT NO |
| 64 | 84501290 | O-MACH BUILT-CENTRIFUGAL D |
| 65 | 84501919 | OTH WASH MACH SEMI AUTO<10 |
| 66 | 84501999 | O-MACH DRY LINE CAPA -NOT> |
| 67 | 84502090 | MACHINE DRY LINE CAP EXCE1 |
| 68 | 85165090 | MICROWAVE OVENS |
| 69 | 85287211 | LIQUID CRYSTAL DISPLAY(LCD |
| 70 | 85287219 | OTH COLOR TV SETS |
| 71 | 85287290 | OTH RECEPTION APPARAT COLO |
| 72 | 85393110 | ENERGY SAVING LAMPS |
| 73 | 87081010 | BUMPERS (SHET METAL)VEH H- |
| 74 | 87141010 | SADDLES OF MOTORCYCLES,MOP |
| 75 | 15091000 | OLIVE OIL & ITS FRACT (VIR |
| 76 | 15099000 | OTH OLIVE OIL & ITS FRACTI |
| 77 | 15131100 | COCONUT OIL,ITS FRACTION C |
| 78 | 15131900 | OTH COCONUT OIL,ITS FRACTI |
| 79 | 15171000 | MARGARINE,EXCL LIQUID MARG |
| 80 | 24011000 | TOBACCO,NOT STEMMED/STRIPP |
| 81 | 69149000 | OTH CERAMIC ARTICLES O/TH |
| 82 | 70099100 | UNFRAMED GLASS MIRRORS |
| 83 | 70099200 | FRAMED GLASS MIRRORS |
| 84 | 14049049 | OTH VEGE MATE USED FOR BRO |
| 85 | 15162020 | VEGETABLE OILS & ITS FRACT |
| 86 | 16010000 | SAUSE,PROD MEAT-FOOD PREP |
| 87 | 32089090 | OTH PAINT BASED ON SYN.POL |
| 88 | 35069190 | OTH POLYMER BASE ADHESIVE |
| 89 | 38089110 | MOSQUITO COIL, MATE&THE LI |
| 90 | 38121000 | PREPARED RUBBER ACCELERATO |
| 91 | 39199090 | OTH SELF-ADHESIVE FILM,FOI |
| 92 | 40094190 | OTH HOSES MADE OF RUB+OTH- |
| 93 | 40111000 | NEW PNEUM TYRES FOR MOTOR |
| 94 | 44111200 | (MDF)THICKNESS NOT EXCEEDI |
| 95 | 48025600 | OTH PAPER&PAPERBOARD IN SH |
| 96 | 48026200 | OTH PAPER&PAPER BOARD IN S |
| 97 | 48030000 | TOILET FACIAC TISSUE/TOWEL |
| 98 | 48041100 | KRAFTINER UN COATED UN-BLE |
| 99 | 48042100 | SACK KRAFT PAPER,UNBLEACHE |
| 100 | 48101390 | OTH WRIT/READ GRAPHIC IN R |
| 101 | 48101990 | OTH WRITING PAPER/PAPERBOA |
| 102 | 48132000 | CIGRETTE PAPER IN ROLL WTH |
| 103 | 48139000 | OTH CIGARET PAPER,BOOKLET/ |
| 104 | 63080000 | SETS OF WOVEN FABRICS AND |
| 105 | 64059090 | FOOTWEAR OF OTHER MATERIAL |
| 106 | 68022100 | MARBLE,TRAVETINE & AIABAST |
| 107 | 68022300 | GRANITE |
| 108 | 68022900 | OTHER BUILDING STONE CUT/S |
| 109 | 68029100 | OTH MARBL TRAVERTIN&ALABAS |
| 110 | 68029300 | OTHER GRANITE |
| 111 | 68029900 | OTHER STONE |
| 112 | 70139900 | O-GLASSWARE INDOOR DECORAT |
| 113 | 96190020 | SCENT SPRAY SIMI TOILET SP |
| 114 | 96190030 | SCENT SPRAY SIMI TOILET SP |
Karachi, September 30, 2021 – The State Bank of Pakistan (SBP) has officially issued the exchange rates for customers on September 30, 2021.
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Section 216A of Income Tax Ordinance, 2001 describes the proceedings against authority and persons.
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 216A of Income Tax Ordinance, 2001:
216A. Proceeding against authority and persons.- (1) Subject to section 227, the Board shall prescribe rules for initiating criminal proceedings against any authority mentioned in section 207 and officer of the Directorate General mentioned in Part II and Part III of Chapter XI including any person subordinate to the aforesaid authorities or officers of the Directorates General who wilfully and deliberately commits or omits an act which results in under benefit or advantage to the authority or the officer or official or to any other person.
(2) Where proceedings under sub-section (1) have been initiated against the authority or officer or official, the Board shall simultaneously intimate the relevant Government agency to initiate criminal proceedings against the person referred to in sub-section (1)
(3) The proceedings under this section shall be without prejudice to any other liability that the authority or officer or official or the person may incur under any other law for the time being in force.
(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.)
The finance division has notified extension in date for exchanging / conversion of bearer prize bonds from September 30, 2021 to December 31, 2021.
The date has been extended for unregistered (bearer) prize bonds in denomination of Rs40,000/-, Rs25,000/- and Rs15,000.
In order to comply with the Financial Action Task Force (FATF) for the prevention of money laundering and terror financing, the government had decided to document the financial instruments by the withdrawal of bearer prize bonds.
So far the government has decided to withdraw prize bonds of four denominations including Rs40,000/-, Rs25,000/-, Rs15,000 and Rs7,500. However, the last date for exchanging Rs7,500 denomination bearer prize bonds is December 31, 2021.
The government started withdrawal of bearer prize bonds with Rs40,000 denomination on June 24, 2019. Later, on December 10, 2020, the government announced to discontinue the circulation of Rs25,000 denomination prize bonds. In April 2021, the finance ministry announced that national prize bonds of denominations Rs7,500 and Rs15,000 shall not be sold.
It is likely the finance ministry extend the date for encashment / exchanging the bearer prize bonds beyond September 30, 2021. However, the decision in this regard has not been taken so far.
The finance ministry has issued the following procedure for encashment/exchanging the bearer prize bonds.
01. Conversion to Premium Prize Bonds (Registered): The bonds can be converted to premium prize bonds (registered) of denomination of Rs25,000/- and Rs40,000/- (subject to the adjustment of differential amount) through 16 field offices of State Bank of Pakistan (SBP)’s Banking Services Corporation, and branches of six commercial banks i.e. National Bank of Pakistan, Habib Bank Limited, United Bank Limited, MCB Bank Limited, Allied Bank Limited and Bank Alfalah Limited.
02. Replacement with Special Saving Certificates (SSC) / Defence Saving Certificates (DSC): The bonds can be replaced with SSC/DSC through the 16 field offices of SBP Banking Services Corporation, authorized commercial banks and National Savings Centers.
03. Encashment at Face Value: The bonds will only be encashed by transferring the proceeds to the bond holder’s bank account through the 16 field offices of SBP Banking Services Corporation as well as the authorized commercial bank branches and to the Saving Accounts at National Saving Centers.
As the clock ticks down on the last day for filing income tax returns in Pakistan, taxpayers are encountering significant challenges with the country’s online return filing portal, IRIS.
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KARACHI: A 100 per cent cash margin requirement on imports to be imposed in order to discourage rising foreign purchases, market sources said on Wednesday.
The sources said that restriction on cash margin has been imposed to discourage import and support balance of payment.
The rupee is continuously falling and making lows for the past several days. The rupee fell to a new record low of Rs170.48 to the dollar in the interbank foreign exchange market on September 29, 2021.
The sources said that the condition of 100 per cent cash margin requirement on import of some medical items may not apply.
The Federal Board of Revenue (FBR) issued a statement on Wednesday asserting that the return filing system at IRIS portal is working seamlessly, receiving an impressive 150,000 returns on September 28, 2021.
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KARACHI: Pakistan stocks tumbled on Wednesday as its benchmark index lost 908 points after the US announced to impose sanctions on the Taliban.
The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 44,367 points against the previous day’s closing of 45,275 points.
Analysts at Arif Habib Limited said after the initial uptick of 67 points carrying positive sentiment from yesterday, the market took a nose dive due to concerns on the foreign policy front where the US announced sanctions on the Taliban and its supporters that had PSX investors worry about the fate of relations with the US.
Resultantly, the index tumbled around 1300 points during intraday trading.
Selling was observed across the board with a major decline in Technology, Banks, E&P, O&GMCs and Fertilizer.
Among scrips, TELE topped the volumes with 52.4 million shares, followed by WTL (50.8 million) and DCR (36 million).
Sectors contributing to the performance include Banks (-172 points), Technology (-128 points), Cement (-100 points), Pharma (-65 points) and Fertilizer (-58 points).
Volumes increased from 364.8 million shares to 468.8 million shares (+28 per cent DoD). Average traded value also increased by 17 per cent to reach US$ 96.2 million as against US$ 82.2 million.
Stocks that contributed significantly to the volumes include TELE, WTL, DCR, BYCO and ANL, which formed 43 per cent of total volumes.
Stocks that contributed positively to the index include PAKT (+19 points), SCBPL (+3 points), GLAXO (+1 points), MUREB (+0 points) and IBFL (+0 points). Stocks that contributed negatively include TRG (-88 points), MCB (-61 points), SEARL (-35 points), SYS (-35 points) and LUCK (-35 points).
KARACHI: The dollar on Wednesday hit another record high at Rs170.48 in the interbank foreign exchange market. The Pak Rupee (PKR) lost 51 paisas to close at Rs170.48 from the previous day’s closing of Rs169.97, the previous record high of the dollar, in the interbank foreign exchange market.
Currency experts said that dollar demand was further increased due to import and corporate payments.
They said that high international oil prices had also put pressure on the foreign currency.
The local currency is under pressure due to the ballooning trade deficit and widening of the current account deficit.
The State Bank of Pakistan (SBP) last week took measures to support the balance of payment by putting a ban on financing for imported vehicles. However, these measures have failed so far to soften the demand for foreign currency.