KARACHI – The State Bank of Pakistan (SBP) announced the latest exchange rates for customers on Tuesday, August 31, 2021, shedding light on the currency values based on the weighted average rates of commercial banks.
(more…)Author: Faisal Shahnawaz
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Requirement of business bank account
Section 114A of Income Tax Ordinance, 2001 mandates the requirement that every taxpayer declare to the Commissioner the bank account used for business transactions.
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Biometric verification for PSW inaugurated at KCAA
The introduction of biometric verification for registration on the PSW portal marks a significant milestone in streamlining customs procedures and improving the overall experience for traders.
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KIBOR rates on August 30, 2021
KARACHI: State Bank of Pakistan (SBP) on Monday issued following Karachi Interbank Offered Rates (KIBOR) on August 30, 2021.
Tenor BID OFFER 1 – Week 6.88 7.38 2 – Week 6.94 7.44 1 – Month 7.00 7.50 3 – Month 7.12 7.37 6 – Month 7.29 7.54 9 – Month 7.40 7.90 1 – Year 7.49 7.99 -
SBP enhances investment opportunities for NRPs
The State Bank of Pakistan (SBP) has announced significant enhancements to the Roshan Digital Accounts (RDA) to further facilitate non-resident Pakistanis (NRPs) in investing and financing opportunities.
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KSE-100 index gains 229 points in mixed trading
KARACHI: The benchmark KSE-100 index increased by 229 points on Monday in mixed trading activities.
The KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,365 points as against last Friday’s closing of 47,136 points, showing an increase of 229 points.
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).
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Dollar rebounds in interbank foreign exchange market
KARACHI: The US dollar made a comeback against the Pak Rupee (PKR) on Monday and gained 34 paisas in the interbank foreign exchange market.
The trading in the interbank foreign exchange market ended at Rs165.96 to the dollar from last Friday’s closing at Rs165.62.
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.
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FBR invites job applications for 912 posts
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, FBR from 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/142246/131361 upon FBR website www.fbr.gov.pk and 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.
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SBP issues customers exchange rates on August 30
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.
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PIA airlifts 12 million doses of Sinovac vaccines
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.