Jan 27

Rules amended on remittances on behalf of Hajj, Umrah organizers

KARACHI: The State Bank of Pakistan (SBP) on Thursday amended instructions in Foreign Exchange Manual regarding remittances on behalf of Hajj group and Umrah organizers. The central bank invited attention of banks and exchange companies to Para 45A and 45B, Chapter 17 (Travel) of Foreign Exchange Manual in terms of which banks and exchange companies […]

by Hamza Shah

Customers get Rs709 million in complaints against banks

Jan 25

Money & Banking, National, Top stories

Customers get Rs709 million in complaints against banks

Banking customers have been provided relief of an amount of Rs709 million in complaints lodged against banks, according to a statement issued on Tuesday. The Banking Mohtasib Pakistan (BMP) has provided relief amounting to Rs 709 million to the banking customers by disposing of 32,592 complaints during the year, 2021 out of 37,364 complaints which […]

by Faisal Shah

FBR slaps sales tax at 17% on supply of food stuff

Jan 21

National, Taxation

FBR slaps sales tax at 17% on supply of food stuff

ISLAMABAD: The Federal Board of Revenue (FBR) has slapped sales tax at 17 per cent on supply of food stuff by restaurants, bakeries, caterers and sweetmeats shops. The FBR issued Circular No. 07 of 2022 on Thursday to explain amendment introduced in the Sales Tax Act, 1990, through Finance (Supplementary) Act, 2022. The revenue body […]

by Anjum Shah

FBR slashes sales tax rates on petrol, HSD

Jan 18

Energy, National, Taxation, Top stories

FBR slashes sales tax rates on petrol, HSD

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday slashed sales tax rates on petrol and high speed diesel (HSD) in order to reduce the impact of high oil prices at consumer end. The FBR issued SRO 88(I)/2022 dated January 18, 2022 to notify changes the sales tax rates on supply of petroleum products. The sales […]

by Anjum Shah

Dr. Alvi orders action over misconduct with 82-year taxpayer

Jan 17

National, Taxation, Top stories

Dr. Alvi orders action over misconduct with 82-year taxpayer

ISLAMABAD: The President of Pakistan, Dr. Arif Alvi, expressed dismay over misconduct of tax authorities with an 82 year old taxpayers in a refund case. Dr. Alvi directed the chairman of the Federal Board of Revenue (FBR) to look into the entire system of irresponsibility and corruption and take punitive action against the entire chain […]

by Anjum Shah

Pakistan’s petrol price rises to record high at Rs147.83

Jan 15

Energy, National, Top stories

Pakistan’s petrol price rises to record high at Rs147.83

ISLAMABAD: The petrol price in Pakistan has been increased to a record high of Rs147.83 per liter, said a statement issued by the finance ministry on Saturday. The government announced to increase prices of all petroleum products with effect from January 16, 2022. READ MORE: Prices of all POL products increased to wish New Year […]

by Anjum Shah

Pak Navy, Customs confiscate huge cache of liquor

Jan 15

National, Pakistan Customs

Pak Navy, Customs confiscate huge cache of liquor

ISLAMABAD: Pakistan Navy and Pakistan Customs in a joint operation confiscated a huge cache of foreign origin smuggled liquor, a statement said on Saturday. Intensifying its ongoing crackdown against smuggling, Model Customs Collectorate, Gwadar and Pakistan Navy, in a joint open-sea operation, confiscated huge cache of foreign smuggled liquor. READ MORE: Privileged personnel allowed duty, […]

by Anjum Shah

Court committee for ban on crypto currency in Pakistan

Jan 12

Money & Banking, National, Top stories

Court committee for ban on crypto currency in Pakistan

KARACHI: A committee set up by a higher court of Pakistan has recommended complete ban on activities of cryptocurrencies in the country. The Sindh High Court in a petition constituted a committee on 20th October, 2021 for submitting recommendation on regulating cryptocurrencies in Pakistan. The petition was filed before the higher court seeking regulatory environment […]

by Faisal Shah

PM Imran terms exports, tax collection must for growth

Jan 11

Finance, National, Top stories

PM Imran terms exports, tax collection must for growth

ISLAMABAD: Prime Minister Imran Khan Tuesday termed tax collection and exports key elements to boost the country’s economy. “The government was making strenuous efforts to remove all hurdles and bottlenecks faced by exporters, investors and businessmen and to give a spur to the exports industry,” the prime minister said while addressing at an inaugural ceremony […]

by Anjum Shah

PTA allows free mobile calls for Murree emergency

Jan 9

IT & Telecom, National

PTA allows free mobile calls for Murree emergency

ISLAMABAD: Pakistan Telecommunication Authority (PTA) on Sunday allowed free mobile calls for people stranded in areas of Murree and Galliat. A statement of the PTA stated that in view of emergency situation in Murree and Galliat areas, mobile phone users, currently present in these areas with no balance, have immediately been provided with free on-net […]

by Anjum Shah