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Category: World

This section brings you news reports from around the world, covering global events, politics, economy, and more. Stay informed with the latest international updates and developments.

  • Pak-Afghan 2nd round talks on DTA concludes

    Pak-Afghan 2nd round talks on DTA concludes

    ISLAMABAD: Pakistan and Afghanistan have concluded the second round of talks on double taxation agreement (DTA).

    According to a statement issued on Saturday said that Afghanistan Revenue Department (ARD) and Federal Board of Revenue (FBR) concluded second round of negotiations on Double Taxation Agreement (DTA) between Pakistan and Afghanistan.

    READ MORE: Power of the Board and Commissioner to call for records

    The four-member delegation of Afghanistan Revenue Department (ARD) were on visit to Pakistan, which commenced from December 27, 2021.

    The inaugural session was presided over by Qaiser Iqbal, Director General (International Taxes), FBR who welcomed the delegates and hoped that the proposed DTA between the two brotherly countries would go a long way in fostering economic relationships and would also contribute to the development of both the countries.

    The negotiations were conducted in the most cordial and friendly atmosphere. Both the delegations discussed all the outstanding issues of the first round of negotiations held in Islamabad from 28th to 30th March, 2016. Both the sides presented and appreciated each other’s respective positions.

    However, it was agreed that the un-resolved issues would be discussed and finalized in the third round of negotiations to be held in Kabul, Afghanistan on mutually agreed dates.

    The Afghan delegation was led by Esmatullah Salimi, Revenue Audit Director, ARD and included Abdul Wali Noori, Technical Deputy Director-General, ARD,  Nida Mohammad Seddiqi, Legal Services Director, ARD and Najeebullah Ahmadzai, Advisor to MoF, while the Pakistan delegation was headed by Qaiser Iqbal, Director General (International Taxes), FBR and included Barrister Nowsherwan Khan, Chief (International Taxes) and Ms. Hira Nazir, Secretary (Tax Treaties & Conventions), FBR.

  • Dogecoin to Pak Rupee on December 24, 2021

    Dogecoin to Pak Rupee on December 24, 2021

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pak Rupee (PKR) is Rs 32.26 on December 24, 2021 in open exchange market. The rate of Dogecoin has been calculated and compared with the rate on December 24, 2021.

    The rate of Dogecoin in US Dollar (USD) is $ 0.18 on December 24, 2021 in open exchange market. The rate of Dogecoin has been calculated and compared with the rate on December 24, 2021.

    Disclaimer: All data and information is provided for informational purposes only. The data has not provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is n not a recommendation buy, sell or hold any security or financial product.

    Ripple to Pak Rupee on December 24, 2021
  • Ripple to Pak Rupee on December 24, 2021

    Ripple to Pak Rupee on December 24, 2021

    KARACHI: The exchange rate of Ripple (XRP) in Pak Rupee (PKR) is Rs 173.48 on December 24, 2021 in open exchange market. The rate of Ripple has been calculated and compared with the rate on December 24, 2021.

    The rate of Ripple in US Dollar (USD) is $ 0.98 on December 24, 2021 in open exchange market. The rate of Ripple has been calculated and compared with the rate on December 24, 2021.

    Disclaimer: All data and information is provided for informational purposes only. The data has not provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is n not a recommendation buy, sell or hold any security or financial product.

  • Bitcoin to Pak Rupee on December 24

    Bitcoin to Pak Rupee on December 24

    KARACHI: The exchange rate of Bitcoin (BTC) in Pak Rupee (PKR) is Rs 9,079,558.54 on December 24, 2021 in open exchange market. The rate of Bitcoin has been calculated and compared with the rate on December 24, 2021.

    The rate of Bitcoin in US Dollar (USD) is $ 50,965.81 on December 24, 2021 in open exchange market. The rate of Bitcoin has been calculated and compared with the rate on December 24, 2021.

    Disclaimer: All data and information is provided for informational purposes only. The data has not provided for trading purposes or financial, investment, tax, legal, accounting or other advice. In case of trading it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is n not a recommendation buy, sell or hold any security or financial product.

  • Instagram account of Pak Embassy hacked, recovered

    Instagram account of Pak Embassy hacked, recovered

    ISLAMABAD: The Instagram account of the Embassy of Pakistan Buenos Aires, Argentina hacked and recovered within few minutes, said a statement on Wednesday.

    “In the early hours of today, the Instagram account of the Embassy of Pakistan Buenos Aires Argentina was hacked by unauthorized outside elements for a few minutes,” according to the statement.

    The account was recovered quickly with the help of the Instagram team. The unauthorized posts by the hackers were deleted.

    Pakistan and Argentina relations are based on solid foundations. Such sinister attempts cannot derail the upward trajectory of our bilateral relations, it added.

  • Pakistan establishes Afghanistan relief fund

    Pakistan establishes Afghanistan relief fund

    ISLAMABAD: Pakistan on Wednesday established a fund namely ‘Afghanistan Relief Fund’ to provide humanitarian assistance to Afghanistan.

    According to a notification issued by the Finance Division, all proceeds on account of ‘Afghanistan Relief Fund’ and payment into the aforesaid fund will be received at all branches of State Bank of Pakistan, all treasuries and branches of National Bank of Pakistan and all other scheduled banks.

    READ MORE: Pakistan donates 50,000MT wheat to Afghanistan

    The finance division said that the fund may receive donations from both domestic, international donors and contributions from aboard which will be received at all the branches of above referred banks where such branches are existing. “In other foreign countries contributions will be received at Pakistan missions and remitted to the State Bank of Pakistan, which would prescribe necessary procedure for their accounting.”

    All proceeds received in the name of the fund will be credited to the public account of the federal government under following head of account:

    Major object: G12: Special deposit fund

    Minor Object: G121: relief fund

    Detailed Object (New): G12163: Afghanistan Relief Fund

    The finance division said that accounts of the fund would be maintained by Accountant General of Pakistan Revenue, Islamabad and Fund will be administered by the ministry of economic affairs in consultation with the finance division.

    READ MORE: FBR rebuts currency smuggling to Afghanistan

  • Pakistan, Saudi Arabia sign agreement for employment

    Pakistan, Saudi Arabia sign agreement for employment

    ISLAMABAD: A deal has been signed on Sunday by Pakistan and Saudi Arabia for certification and employment of Pakistani skilled workforce through Takamol and NAVTTC.

    The agreement was signed by Minister for Federal Education and Professional Training, Shafqat Mahmood from the Pakistan side, and Dr. Ahmad Jabbar Al Yamni, from Saudia Arabia Takamol side.

    The Agreement signing ceremony took place at the Ministry of Human Resources and Social Development, Saudi Arabia and it was witnessed by senior officials of both countries.

    READ MORE: Saudi Arabia allows direct entry from Pakistan

    This important cooperation between both countries has a far-reaching impact for enhancing the employment opportunities for the skilled Pakistani workforce by joint certification and testing by Takamol Saudi Arabi and NAVTTC National Vocational and Technical Training Commission Pakistan.

    This will also safeguard the existing Pakistani workforce in Saudi Arabia. In order to facilitate the Pakistani expatriate workforce, NAVTTC under the leadership of Shafqat Mahmood, Minister for Federal Education and Professional Training, Chairman NAVTTC Syed Javed Hassan and Executive Director NAVTTC Sajid Baloch worked hard to achieve this hallmark far-reaching Agreement between NAVTTC and Takamol.

    It is expected that millions of Pakistani skilled workers will get gainful employment opportunities with higher earning as a result of the efforts of the Government of Pakistan.

    READ MORE: Saudi Arabia places $3bn with Pakistan’s central bank

    Under this partnership, NAVTTC, National Vocational and Technical Training Commission Pakistan and Takamol, a subsidiary of the Government of Saudi Arabia are establishing the testing regime under the Skills Verification Program, by exchanging the NOS (National Occupational Standards) and facilitating skill verification of candidates through competency-based assessment (Theory & Practical) at exam Centers in Pakistan for candidates desirous of working in the Kingdom of Saudi Arabia.

    This will enable the Pakistani skill workforce to have authentic and internationally recognized joint certification by both Takamol Saudi Arabia and NAVTTC Pakistan, through the Recognition of Prior Learning (RPL) assessment.

    READ MORE: Pakistan, Saudi Arabia agree to strengthen economic ties

    The Ministry of Human Resource and Social Development of the Kingdom of Saudi Arabia (KSA) has introduced Skill Verification Program (SVP) implemented from July 2021 in order to regulate its labor market. After the implementation of SVP in KSA, skill verification has become necessary for the Pakistani skilled workers, who intend to have employment in Saudi Arabia.

    It is important to note that the largest number of Pakistani expatriate workforce is based in Saudi Arabia, who contribute substantially to Pakistan’s economy through foreign remittances.

    Most of the present Pakistani workforce in KSA fall in the category of un-skilled or semi-skilled labor, which means reduced remunerations and it also impacts remittances negatively.

    Moreover, in the changing scenario of labour laws and dynamics of the labor market overseas, a large number of Pakistani skill workforce require skills certification as presently they face non-recognition of their qualifications, skills and certification.

    This cooperation will help a large number of these workers, also leading to national productivity and development.

    Pakistan, Saudi Arabia agree to enhance duty, tax cooperation
  • Pakistan donates 50,000MT wheat to Afghanistan

    Pakistan donates 50,000MT wheat to Afghanistan

    ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved a donation of 50,000 metric tons of wheat to Afghanistan.

    The Federal Minister for Economic Affairs Division (EAD) Omar Ayub Khan chaired the ECC meeting and took several important decisions.

    Federal Minister for Energy Hammad Azhar, Abdul Razak Dawood Advisor to Prime Minister on Commerce, Textile, Industries & Production and Investment, Federal Secretaries and other senior officers participated in the meeting.

    The ECC considered the summary submitted by the Ministry of National Food Security & Research approved the proposal for the donation of 50,000 M. Tons of wheat to Afghanistan. ECC further directed the Finance Division to provide funds for the purpose on an actual cost basis.

    The ECC also recommended relaxation of the ban on the export of wheat/wheat flour to Afghanistan to the extent of the instant proposal with the direction that the Ministry of National Food Security and Research may inform the Federal Cabinet of the ratio for mixing of local and imported wheat in case export of wheat flour is required.

    On a Summary tabled by the Ministry of Foreign Affairs regarding “Extraordinary Session of the OIC Council of Foreign Ministers (CFM) in Pakistan” the ECC approved two Technical Supplementary Grants (TSGs) for the purpose during CFY 2021-22 i.e., (i) Rs.233.342 million in favor of the Ministry of Foreign Affairs and (i) Rs 64.2 million in favor of the Interior Division.

    ECC approves cash reward for promotion of IT exports
  • Presidents of Pakistan, Iran discuss trade, economy

    Presidents of Pakistan, Iran discuss trade, economy

    ISLAMABAD: The president of Pakistan Dr. Arif Alvi and the president of Iran Seyed Ebrahim Raisi on Sunday discussed bilateral trade and economy.

    (more…)
  • Saudi Arabia allows direct entry from Pakistan

    Saudi Arabia allows direct entry from Pakistan

    ISLAMABAD: Saudi Arabia has allowed direct entry from Pakistan with effect from December 01, 2021, according to a report.

    The nationals of Pakistan are now eligible for direct entry without spending 14-day quarantine in a third country.

    According to Saudi Press Agency report quoting an official source at the ministry of interior, the directive will come into force from next Wednesday, December 01, 2021.

    Saudi Arabia along with Pakistan also allowed direct entry from Indonesia, India, and Egypt. Brazil and Vietnam are the other countries that are included in the new list of countries allowed direct entry into the Kingdom.

    Turkey eases COVID restriction for Pak travelers