Analysts at Arif Habib Limited said that market performed well after closing the rollover week.
The ascent in international crude oil prices, due to hurricane IDA, helped propel Oil and Gas chain, particularly E&P stocks.
Power sector saw HUBCO coming to the fore on the back of declaration of healthy dividends.
Besides, cement, fertilizer, steel and technology stocks contributed positively to the Index. Banks, Autos and Textile sector saw continued profit booking.
Volumes remained virtually the same at 382.6 million shares against 382.3 million shares the other day. Average traded value declined by 8 per cent to reach US$ 74.3 million as against US$ 80.1 million.
Stocks that contributed significantly to the volumes include BYCO, GGL, WTL, YOUW and TELE, which formed 38 per cent of total volumes.
Stocks that contributed positively to the index include HUBC (+75 points), ENGRO (+31 points), OGDC (+26 points), PPL (+22 points) and TRG (+17 points). Stocks that contributed negatively include MEBL (-49 points), HBL (-38 points), MCB (-14 points), MARI (-11 points) and UBL (-10 points).
Currency experts said that the dollar demand remained high during the day as the market opened after two weekly holidays.
It is worth mentioning that the rupee recovered during the last two days of the last week. However, the dollar rebounded today owing to higher demand for import payments.
ISLAMABAD: Federal Board of Revenue (FBR) has invited applications for 912 vacancies in Inland Revenue Service (IRS) for BS-1 to BS-15.
The FBR said that applications are invited from eligible candidates against following vacant posts in field formations of Inland Revenue, FBRfrom Pakistani Nationals on local basis in case of vacancies of (BS 1 to 5) and from candidates domiciled of the province or region concerned in case of vacancies of (BS 6 to 15).
The eligible candidates are advised to submit their application on the prescribed form available on link i.e. https://fbr.gov.pk/jobs-vacancy-announcements/142246/131361upon FBR website www.fbr.gov.pkand field offices (duly filled in/complete in all respects) to the Admin officers of 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 applications submitted and received in wrong office will be straight away rejected.
Vacancies for BS 01 to 05 shall be filled on local basis in terms of Rule, 16 whereas vacancies for BS 06 to 15 shall be filled by persons domiciled in the province or region concerned strictly under Rule 15 of the Civil Servants (Appointment, Promotion & Transfer) Rules, 1973 read with Establishment Division O.M No. 4/3/2019-R-II dated 21.08.2019.
Please 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 (if any) and one set of attested copies of document at the time of interview.
The contract employees (BS-01 to 05) who were appointed under the Prime Minister Assistance Package for the families of Government employees who died in service may also apply for the above posts (if they intend to apply). They will only be considered, if they will formally apply against the specific post.
All appointments shall be made on merit, however 10% quota for women, 5 per cent quota for minorities (non-Muslims) and 2% quota for disabled persons will be reserved for all above posts as per government instructions. Disabled persons are required to submit a certificate as proof of disability duly issued by recognized social welfare Board/ office or other authorized Government organization, otherwise they will not be considered against disabled quota.
The FBR reserve the right not to fill any vacancy or to increase/decrease/vary the number of vacancies if the circumstances so warrant.
The candidates working in public sector departments/ organizations should send their applications through proper channel and the same must be received in respective office before the date of interview. Nevertheless, advance copies can be submitted by the closing date of application.
Minimum and Maximum age shall be calculated on the closing date for receipt of applications.
The selected candidates for the post of Assistant (BS-15) shall have to undertake 6 weeks whereas UDCs and LDCs shall have to undertake 3 weeks basic IT training course (including MS Office) conducted by NITB within one year of their appointment, otherwise their service will be terminated in light of Establishment Division’s Office Memorandum No.1/13/96-R-6 dated 10-08-2016.
Information provided in the Application Forms will be verified. In case of any false or forged information, FBR reserves the right to cancel candidature of any person at any stage (even after employment, if so revealed later) and will initiate legal action against the applicant under the relevant law.
The eligible candidates will be called for test (where required) and only short listed candidates will be called for interview. All the candidates will be provisionally allowed to appear in the test/ interview subject to detail scrutiny/verification of their eligibility during the recruitment process.
No TA/ DA will be admissible for the Test/ Interview.
Last date for submission of application is 20.09.2021. Applications received after the closing date will not be entertained.
KARACHI, August 30, 2021: The State Bank of Pakistan (SBP) has released the latest exchange rates for customers, providing valuable insights into the currency landscape.
BIEJING: Pakistan International Airlines (PIA) on Sunday carried fresh batch of 12 million doses of Sinovac vaccines through special flights from Beijing, to Capital International Airport of Islamabad.
The PIA airlifted the Sinovac vaccines obtained from China and brought it to Pakistan for the people under government’s ongoing prevention and control drive against Covid-19.
The PIA Country Manager for China said, “PIA special flights PK-6852, PK-6853, PK-6854 and PK-6856 transported 12 million doses of Sinovac vaccine procured from China for vaccination of people under government’s ongoing prevention and control drive against Covid-19 pandemic.”
He further said that under able leadership of its Chief Executive Officer, Arshad Malik, the national flag carrier had so far airlifted 57 million doses of anti-Covid-19 vaccine through 47 special flights.
He added,“Till now, PIA has brought around 17 million doses of Sinopharm and 40 million doses of Sinovac and CanSino vaccines from China to Pakistan.”
It is worth mentioning that the government under its mass vaccination drive has set a target to vaccinate 75 million population by end of 2021.
So far, over 32 million vaccines have been administered with a maximum of 1.07 million doses in a day on August 02.
Chinese vaccines namely Sinopharm, Sinovac and CanSino besides other vaccines are being used in the mass vaccination drive.
The health authorities launched the nationwide vaccination drive with around a million doses of Sinopharm vaccine donated by China, starting with older people and frontline healthcare workers, in March this year.
In a bid to simplify the customs clearance process and provide greater transparency to traders, the Federal Board of Revenue (FBR) has introduced a user-friendly Customs Duty Calculator. This online tool is designed to assist traders in assessing and calculating customs duties for their consignments, streamlining the overall clearance procedure.
The Federal Board of Revenue (FBR) issued paper income tax return forms for tax year 2021 on Friday, just a month ahead of the looming filing deadline of September 30, 2021.
KARACHI: State Bank of Pakistan (SBP) on Friday said that Prime Minister Imran has launched a new housing scheme to facilitate Non-Resident Pakistanis (NRPs) in buying houses for themselves and their families.
The central bank in a statement said that the prime minister praised the efforts and hard work of the SBP and government agencies in crossing another impressive milestone of $2 billion in deposits in Roshan Digital Accounts (RDA) and developing an exclusive product, Roshan Apna Ghar, for Overseas Pakistanis’ investment in housing in Pakistan.
He said that RDA has provided an excellent platform to overseas Pakistanis to digitally connect to Pakistan’s banking system and meet their financial services needs in Pakistan.
The prime minister was addressing a gathering of Ministers, Presidents and CEOs of Banks, SBP officials and other distinguished guests at the launch of Roshan Apna Ghar – an initiative of SBP for overseas Pakistanis.
The Prime Minister expressed optimism that Roshan Apna Ghar would facilitate overseas Pakistanis to buy a house for themselves and / or their families in Pakistan, which has been quite difficult for many of them due to host of manual procedures, mandatory physical visits to Pakistan with long stay to complete the process and the hassle of trips to many offices.
He said that with the introduction of Roshan Apna Ghar, an end to end digital process right from submission of application to the bank to disbursement of funds by banks, overseas Pakistanis would find it much easier to buy a housing unit in Pakistan for themselves or their loved ones either through their own savings or bank financing.
In his welcome address, Governor SBP, Dr. Reza Baqir thanked the Prime Minister for his vision and firm resolve to integrate the overseas Pakistani community with the country’s economy.
Highlighting the performance of Roshan Digital Account, he said that RDA is now a very well established brand, which has so far connected over 215,000 expats with the country’s banking system and attracted over $2,050 million since its launch in September last year. He said it took about 8 months to cross the first major milestone of $1 billion whereas the next 1 billion were received in less than 4 months, which is indicative of the increasing momentum.
Introducing the new product, Dr. Baqir said that Roshan Apna Ghar is an initiative of SBP for Non Resident Pakistanis (NRPs)to buy, build or renovate their homes in Pakistan through own investment or bank financing.
Complete information on the initiative as well as directions on how to avail it are available at the SBP portal. Overseas Pakistanis will be able to complete their transaction completely remotely and digitally and their investment will be fully repatriable.
He elaborated that financing is available in both conventional and Shariah compliant variants at attractive rates for a period of three to 25 years.
Through the Roshan Apna Ghar initiative, overseas Pakistanis will also be able to obtain financing under the Mera Pakistan Mera Ghar scheme of the government as well that has been exclusively designed for those who do not already own a house and offers financing at economical rates starting from 3 percent.
Governor Baqir emphasized that SBP, with the support of all stakeholders, will continue to bring as much ease as possible for overseas Pakistanis.
Speaking at the occasion, the Minister for Finance and Revenue, Shaukat Tarin, said that the innovation of Roshan Digital Account has proved to be a huge success and instrumental in receiving substantial investment of over $1.4 billion in Naya Pakistan Certificates.
He lauded the introduction of Roshan Apna Ghar by State Bank and said that it is another splendid idea of SBP and will attract substantial investment in the real estate sectorby overseas Pakistanis.
He went on to add that both NPCs and the Roshan Apna Ghar are here to achieve the greater goal of attracting investments by overseas Pakistanis, which are more sustainable and reliable.
He said that Ministry of Finance with the help of State Bank will make every effort to introduce new avenues of investments for overseas Pakistanis.
Under Roshan Apna Ghar, two types of financing facilities are being offered. First, Standard Financing in which both lien based and non-lien based financing is available.
In lien-based financing, the NRPs can obtain house finance facility against lien on their RDA deposit balances or Naya Pakistan Certificates. Banks can finance up to 100 per cent of the property value for purchase or construction of a house; for renovation of house, financing is capped at 40 per cent of the property value.
Non-lien based financing is the typical housing finance offered against mortgage of the property to be purchased; banks may fund up to 85% of the property value for purchase or construction of house, and up to 30% of the property value for renovation of house.
Second, the house financing facility under Mera Paksitan Mera Ghar (Government Mark-up Subsidy Scheme) is also available for RDA holders under Roshan Apna Ghar product as per already defined criteria under respective tiers.
In this case, the financing rates applicable to the Mera Pakistan Mera Ghar scheme would apply.Insurance of the property, up to the extent of financing amount, is also free.
