COVID levy on wealth of individuals, AOPs under consideration

Jun 6

Budget 2020-2021, Taxation

COVID levy on wealth of individuals, AOPs under consideration

ISLAMABAD: In order to generate revenue in the wake of coronavirus pandemic the government is considering to impose COVID levy, which may be on the wealth of individuals and Association of Persons (AOPs), sources said. The sources said that the levy may be collected up to one percent of Rs100 million wealth declared by individuals […]

by Mrs. Anjum Shahnawaz

FBR decides opening IR offices on Saturdays as coronavirus spreads rapidly

Jun 5

Taxation

FBR decides opening IR offices on Saturdays as coronavirus spreads rapidly

ISLAMABAD: Federal Board of Revenue (FBR) has decided to open its field offices on Saturdays to meet monthly target of Rs415 billion despite rapid spread of coronavirus, which already claimed lives of tax officials. The FBR on Thursday issued a notification directing all chief commissioners of Large Taxpayers Units (LTUs), Regional Tax Offices (RTOs) and […]

by Mrs. Anjum Shahnawaz

Shopkeepers to implement ‘no mask, no service’; NCOC discusses easing lockdown

May 31

National

Shopkeepers to implement ‘no mask, no service’; NCOC discusses easing lockdown

ISLAMABAD: Market associations to be engaged for implementation of COVID-19 guidelines and Standard Operating Procedures (SOPs) for prevention the spread of coronavirus. This was discussed at a meeting of National Command and Operation Centre (NCOC) held on chaired by Minister for Planning, Development and Special Initiatives Asad Umer. Umer said that the shopkeepers should strictly […]

by Mrs. Anjum Shahnawaz

NCOC recommends shutting educational institutions till August

May 30

National

NCOC recommends shutting educational institutions till August

ISLAMABAD: National Command and Operation Centre (NCOC) on Saturday recommended that the educational institutions should be kept closed till August as the summer season and pandemic would be at its peak on July 15, 2020. The NCOC sought provinces’ feedback on negative list aiming to finalize the recommendations of opening some more sectors of the […]

by Mrs. Anjum Shahnawaz

World Bank approves $500 million to help Pakistan’s COVID-19 emergency response

May 22

Finance, National

World Bank approves $500 million to help Pakistan’s COVID-19 emergency response

WASHINGTON: The World Bank’s Board of Executive Directors approved today a $500 million program to help Pakistan improve access to quality healthcare and education, support economic opportunities for women, and strengthen social safety nets as the country braces to limit the impact of the COVID-19 pandemic. The Securing Human Investments to Foster Transformation (SHIFT) program […]

by Mrs. Anjum Shahnawaz

SBP allows reimbursement claims for payment of wages, salaries

May 20

Money & Banking

SBP allows reimbursement claims for payment of wages, salaries

KARACHI: State Bank of Pakistan (SBP) on Tuesday decided to allow reimbursement claims for those business concerns, which paid wages and salaries through own resources. The central bank through a notification on April 10, 2020 launched refinance scheme for payment of wages and salaries to the workers and employees of business concerns considering the financial […]

by Mrs. Anjum Shahnawaz

FBR takes notice of closure of field offices

May 19

Taxation

FBR takes notice of closure of field offices

ISLAMABAD: Federal Board of Revenue (FBR) has taken serious notice of without approval closure of field offices for prevention against COVID-19 (coronavirus). In an official notice issued on Tuesday, the FBR said that it had been observed with grave concern that field offices, unilaterally decided for closure of offices without approval of the Board while […]

by Mrs. Anjum Shahnawaz

SECP issues guidelines for license renewal amid COVID-19

May 19

Corporate, Stock & Commodity

SECP issues guidelines for license renewal amid COVID-19

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has issued guidelines for license renewal in order to facilitate companies considering difficulties due to COVID-19. The SECP issued Circular No. 19/2020 for extension in time for renewal of licenses due to COVID-19. The regulator said that the COVID-19 (coronavirus) had affected many businesses around the globe […]

by Mrs. Anjum Shahnawaz

Karachi Chamber demands lifting lockdown completely as corona cases rise above 40,000

May 17

Trade & Industry

Karachi Chamber demands lifting lockdown completely as corona cases rise above 40,000

KARACHI: Business community has demanded complete ease in lockdown on Sunday as cases of coronavirus have increased to over 40,000 in the country. The government has started easing lockdown since last Monday but the cases of coronavirus increase at faster pace. The corona cases have increased to 40,151 till May 17, 2020. Chairman Businessmen Group […]

by Mrs. Anjum Shahnawaz

May 12

Automotive

Not a single car sold in April 2020

KARACHI: Automobile manufacturers have witnessed worst-ever month as not a single car was sold during April 2020 owing to lockdown imposed by the federal and provincial governments to prevent coronavirus pandemic. The lockdowns due to COVID-19 imposed by the Federal and Provincial governments in the later half of Mar-2020 till date has resulted in no […]

by Faisal Shahnawaz