State Bank to set up national payment gateway


ISLAMABAD: State Bank of Pakistan (SBP) to set up National Payment Gateway for hassle free and secure banking transactions.

ADB raises Pakistan GDP growth to 5.2 percent for 2016/2017

ISLAMABAD: Asian Development Bank (ADB) has raised projection for GDP growth in Pakistan for fiscal year 206/2017 to 5.2 percent from 4.8 percent.

FBR to track tax evaders under OECD convention: Dar


ISLAMABAD: Multilateral Convention – a joint initiative of Council of Europe and OECD will help Federal Board of Revenue (FBR) to track tax evaders, no matter where they have accumulated their wealth, Finance Minister Senator Mohammad Ishaq Dar said.

Global trade growth in 2016 lowest since 2009 financial crisis: WTO


KARACHI: World Trade Organization (WTO) has projected global trade growth of 2.2 percent in 2016, the slowest pace of growth since the financial crisis of 2009.

Federal Ombudsman recommends no limit to remittances send by overseas Pakistani workers


ISLAMABAD: The office of the Federal Ombudsman has recommended changes in Foreign Exchange Remittance Card (FERC) and allow issuance of card along with NICOP without any limit of remittance, which is now $2,500.

ECC approves duty and tax exemptions for Sukuk


ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet on Monday approved certain duty and tax exemptions for making Sukuk – Islamic bonds – attractive for foreign buyers.

FBR may extend last date for filing income tax returns; KTBA points out numerous difficulties in e-filing


KARACHI: Federal Board of Revenue (FBR) may extend the last date for filing income tax returns for tax year 2016 as taxpayers facing difficulties on the online e-portal.

SBP tightens cash management regulations; each bank branch required to provide cash position


KARACHI: State Bank of Pakistan (SBP) has tightened cash management regulations on banks and now each bank branch is required to submit cash position to the central bank.

FBR grants approval to tax free import of security vehicles


ISLAMABAD: Federal Board of Revenue (FBR) has granted exemption from levy of income tax and sales tax to import of security and armored vehicles for the visit of foreign dignitaries.

Pakistan foreign exchange reserves improved equal to five months imports: Ishaq Dar

ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar has said that Pakistan has achieved macroeconomic stability during last three years and foreign exchange reserves of the country have improved equal to over five months of imports.