Pakistan advised to include pension income in tax regime
An international advisory firm, Adam Smith International, has recommended that Pakistan expand its income tax framework to encompass pension income.
Continue Reading
Tag: pension
Pakistan announces early salary, pension for Government employees before Eid
In a recent announcement, the Pakistani government has decided to disburse the salary and pension payments for government employees ahead of Eid-ul-Fitr this month.
Continue Reading
Non-resident Pakistanis allowed contribution in pension funds
KARACHI: The State Bank of Pakistan (SBP) has allowed non-resident Pakistanis to contribute in pension funds. In a circular issued to banks/Authorized Dealers (ADs) on August 05, 2022, the SBP said in order to improve the value proposition of NRP Rupee Value Account (NRVA) and facilitating the non-resident Pakistanis (NRPs), it has been decided to […]
Continue Reading
Sindh increases salary by 15% from July 1, 2022
KARACHI: The Sindh government on Tuesday announced a 15 per cent raise in salary of provincial government employees and 5 per cent increase in pension effective from July 01, 2022. Sindh Chief Minister Syed Murad Ali Shah announced raise in pay and pension while presenting the provincial budget 2022-2023. READ MORE: Sindh unveils Rs1.714 trillion […]
Continue Reading
Khyber Pakhtunkhwa raises salary, pension by 15%
PESHAWAR: Khyber Pakhtunkhwa on Monday announced 15 per cent increase in salary of provincial government employees and 15 per cent increase in pension as well. Finance Minister Taimur Salim Jhagra announced the increase in salary and pension of provincial employees while presenting the provincial budget 2022-2023. READ MORE: Khyber Pakhtunkhwa presents Rs1.33 trillion budget 2022-2023 […]
Continue Reading
Notification issued to raise 10% in pension
ISLAMABAD: The Finance Division has issued a notification to implement the decision of the government to raise 10 per cent increase in pension to pensioners of the federal government. Prime Minister Shahbaz Sharif has sanctioned an increase of 10 per cent of net pension with effect from April 01, 2022 until further orders to all […]
Continue Reading
SBP’s instructions on pensioners biometric verification
KARACHI: The State Bank of Pakistan (SBP) on Friday issued instructions regarding biometric verification of pensioners. Prior to these instructions the SBP issued BC&CPD Circular Letter No. 01 dated February 01, 2021 and File Letter No. BC&CPD/O&SSD/BVS/5873 dated May 27, 2021 on the subject. The Finance Division issued a letter on December 08, 2021 on […]
Continue Reading
EOBI to launch self assessment scheme for employers
KARACHI: Employees Old-Age Benefits Institution (EOBI) has proposed a self assessment scheme under which the institution may select companies through random balloting for audit. EOBI Chairman Shakeel Ahmed Mangnejo said that for the convenience of employers as well as to encourage more contributions from them, a Self-Assessment Scheme is proposed in the upcoming amendment into […]
Continue Reading
Mandatory biometric verification restored for pensioners
ISLAMABAD: The government has made mandatory the biometric verification for pensioners to make withdrawal of their pension amount from banking system. In an office memo, the Finance Division said that the mandatory requirement of biometric verification has been restored for the pensioners, which was suspended due to COVID-19. READ MORE: Grant of 10% increase in […]
Continue Reading
PM adviser stresses need to rationalize salaries
ISLAMABAD: Shaukat Tarin, Adviser to the Prime Minister on Finance and Revenue, on Tuesday stressed the need to rationalize salaries, allowances, and perks. Tarin was addressing a virtual meeting of the Pay and Pension Commission. The Commission is headed by Zafar Ahmed Khan and is composed of senior professionals from public and private sectors as […]
Continue Reading