Aug 31

Complaints against banks for refusing flood donations

KARACHI: The State Bank of Pakistan (SBP) on Wednesday said that it has been noticed that a few complaints have been circulating on social media platforms regarding non-acceptance of donations from general public in “CM Flood Relief Fund” of KP and Punjab. In this context, upon enquiry of SBP, concerned banks have informed that such […]

by Faisal Shahnawaz

FBR announces tax exemptions for flood relief operation

Aug 31

National, Taxation, Top stories

FBR announces tax exemptions for flood relief operation

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday announced major tax exemptions for flood relief operation. The FBR issued SRO 1634(I)/2022 dated August 30, 2022 to allow the tax exemption. In order to enable the exemption, the FBR amended Second Schedule of the Income Tax Ordinance, 2001. It is pertinent to mention that tax is […]

by Mrs. Anjum Shahnawaz

US provides Rs6.65 billion for Pakistan flood relief

Aug 30

National, World

US provides Rs6.65 billion for Pakistan flood relief

ISLAMABAD: The United States, through the U.S. Agency for International Development (USAID), on Tuesday announced an additional $30 million (Rs6.65 billion) in life-saving humanitarian assistance to support people and communities affected by severe flooding in Pakistan. Pakistan’s government has declared the floods a national emergency, with 66 districts declared to be “calamity hit.” The United […]

by Mrs. Anjum Shahnawaz

Pakistan may face food security due to flash floods

Aug 29

Finance, National, Top stories

Pakistan may face food security due to flash floods

ISLAMABAD: The flash floods in Pakistan may create a situation of food security in coming days as rice, banana, onion and other agriculture produces have been badly affected. Minister for Planning, Development, and Special Initiatives Ahsan Iqbal Monday said that the recent floods and torrential rains have also damaged 40-50 percent cotton crop across the […]

by Mrs. Anjum Shahnawaz

PM Shehbaz announces Rs10 bn grant for Balochistan victims

Aug 28

National, Top stories

PM Shehbaz announces Rs10 bn grant for Balochistan victims

JAFFARABAD: The Prime Minister of Pakistan, Muhammad Shehbaz Sharif, Sunday announced a grant of Rs10 billion for the people of Balochistan province to cope with the situation and assist the flood victims. During his visit to flood affected areas including Haji Allah Dino village, the prime minister said that he had never witnessed in his […]

by Mrs. Anjum Shahnawaz

SBP issues instructions to banks for flood relief donation awareness

Aug 24

Money & Banking, National

SBP issues instructions to banks for flood relief donation awareness

KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued instructions to banks for raising awareness among the potential donors for contributing in flood relief fund. The central bank said that with a view to raise awareness among the potential donors and facilitate them in contributing to the PM’s Flood Relief Fund 2022, banks are […]

by Hamza Shahnawaz

Tax exemption granted to donations for PM flood relief fund

Aug 23

National, Taxation, Top stories

Tax exemption granted to donations for PM flood relief fund

ISLAMABAD: The federal government on Tuesday granted tax exemptions to donations made for Prime Minister’s Flood Relief Fund 2022. The Federal Board of Revenue (FBR) issued SRO 1590(I)/2022 dated August 23, 2022 to exempts deduction of tax under various provisions of Income Tax Ordinance, 2001. According to the SRO an amendment has been made into […]

by Mrs. Anjum Shahnawaz