FBR Abolishes Domestic Price of Sugar to Evaluate Sales Tax
The Federal Board of Revenue (FBR) has abolished the domestic price of sugar, fixed at Rs. 60 per kg in 2016, for the purpose of assessment of sales tax.In this regard, the FBR has rescinded SRO 812(I)/2016 through an S.R.O. 895(1)/2021 issued here on …
FX Reserves Rise As Pakistan Receives $1.4 Billion Loan From China and World Bank
The foreign exchange of Pakistan witnessed handsome inflows as the country received separate tranches of loans, including $1 billion from China and $440 million from the World Bank (WB).According to data released by the State Bank of Pakistan (SBP), th…
SECP Issues Draft Amendments For Public Offering Regulations
The SECP has issued S.R.O. 855(I)/2021 to introduce draft amendments to the Public Offering (Regulated Securities Activities Licensing) Regulations, 2017.Any development financial institution and scheduled bank shall obtain approval of the Securities a…
Govt Grants 10% Ad Hoc Relief Allowance On Basic Pay For Govt Employees
The federal government has granted a 10 percent ad-hoc relief allowance on basic pay to civil employees.The Ministry of Finance issued an office memorandum pertaining to granting of 10% ad-hoc relief allowance on basic pay to civil employees of the fed…
IT Minister Vows To Withdraw Tax On Calls Longer Than 5 Minutes
Federal Minister for Information Technology and Telecommunication, Syed Amin Ul Haque, revealed on Thursday that several members of Prime Minister Imran Khan’s cabinet are against the 75 paisas tax on mobile calls that exceed five minutes and vowed to …
Meezan Bank & NCCPL Partner to Introduce Shariah-Compliant Products
Meezan Bank has collaborated with the National Clearing Company of Pakistan Limited (NCCPL) to develop new Shariah-compliant products for the country’s capital market.Through this collaboration, Meezan Bank will extend its support in introducing the Mu…
Webinar Held on Investment Opportunities in CPEC-Related SEZs in Pakistan
The Pakistan High Commission organized a webinar on ‘Investment Opportunities in CPEC related Special Economic Zones (SEZs)’ in collaboration with the Embassy of China on 8 July 2021.The webinar was held for the 70th anniversary of the establishment of…
Telenor Sells Its Telecom Operations in Myanmar
Telenor Group has entered into an agreement to sell 100 percent of its mobile operations in Myanmar to M1 Group for a total consideration of 105 million USD (approximately 900 million NOK), of which 55 million USD (approximately 470 million NOK) is a d…