Pakistan Revenue
KARACHI: The inflow of workers remittances has registered decline of 5.5 percent in April 2020, State Bank of Pakistan (SBP) said on Monday. Workers’ remittances during April 2020 amounted to US $ 1.79 billion recording a decrease of US $ 104.4 million or 5.5 percent over remittance received during previous month (March 2020, US $ […]
Continue Reading
KARACHI: State Bank of Pakistan (SBP) on Wednesday expanded incentive scheme for exchange companies for promoting home remittances through formal channels. The SBP previously on December 06, 2019 introduced the incentive scheme on which exchange companies were allowed market expenses reimbursement of Re. 1 per each incremental US dollar mobilized over 15 percent growth. The […]
Continue Reading
KARACHI: The inflows of remittances sent home by overseas Pakistanis increased by six percent during first nine months (July – March) 2019/2020, State Bank of Pakistan (SBP) said on Friday. The workers’ remittances received during July – March 2019/2020 amounted to round $17 billion recording an increase $960.7 million or 6.0 percent over $16.031 billion […]
Continue Reading
KARACHI: Overseas Pakistanis have remitted $7.48 billion during first four months of current fiscal year, which is 1.8 percent lower when compared with $7.62 billion in the corresponding period of the last fiscal year. During October 2019, the inflow of workers remittances amounted to US$ 2,000.80 million, which is 14.46 percent higher than September 2019 […]
Continue Reading
KARACHI: State Bank of Pakistan (SBP) on Tuesday issued amendment to instructions regarding acquisition of services from abroad by Pakistani firms. Referring Para 11, Chapter 14 of the Foreign Exchange Manual, 2019, the central bank said that prior permission of is required by the persons or firms in Pakistan who wish to acquire the services […]
Continue Reading
ISLAMABAD: The government has approved changes to payment of duty and taxes system for clearance of used vehicles, which are allowed to import under three different schemes. The Economic Coordination Committee (ECC) of the Cabinet on Wednesday on a proposal by the Commerce Division, took up the import of used vehicles under personal baggage, transfer […]
Continue Reading
KARACHI: State Bank of Pakistan (SBP) has prohibited transfer of outward remittances through newly introduced on-boarding merchant accounts. The central bank in its rules issued for ‘Digital On-boarding of Merchants’ directed the acquiring institutions – Electronic Money Institution (EMI), and any non-banking entity duly authorized by SBP to on-board merchants under these Rules –not to […]
Continue Reading
KARACHI: Overseas Pakistani workers have remitted $2.04 billion in the first month of fiscal year 2019/2020 as compared with $1.98 billion in the same month of the last fiscal year, State Bank of Pakistan (SBP) said on Friday. During July 2019, the inflow of worker’s remittances amounted to $2.04 billion, which is 23.91 percent more […]
Continue Reading
Overseas Pakistani workers have continued to make a significant contribution to the country’s economy, with remittances totaling $10.719 billion during the first half of the fiscal year 2018-2019 (July to December).
Continue Reading