Daily Archives: May 10, 2017

Inflows of foreign remittances down by 2.8pc

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KARACHI: The inflows of remittances sent by overseas Pakistanis have eased by 2.8 percent during first ten months creating more problems for the country on the external financial side.

Banks to accept DLTL claims till May 15

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KARACHI: State Bank of Pakistan (SBP) on Wednesday allowed the banks to accept claims for drawback of local taxes and levies (DLTL) – 2016/2017 till May 15, 2017.

SBP allows banks to settle outstanding export loans up to $50,000

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KARACHI: State Bank of Pakistan (SBP) while relaxing foreign exchange regulations, has allowed banks to settle exports loan up to $50,000 through interbank market.

Pakistan’s trade deficit widens by 40pc during July – April

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ISLAMABAD: Pakistan’s trade deficit has widened by 40 percent to $26.55 billion during July – April 2016/2017 as compared with deficit of $18.95 billion in the correspondent period of the last fiscal year, according to trade statistics issued by Pakistan Bureau of Statistics (PBS) on Wednesday.

22 customs officers awarded with major penalty of ‘removal from service’, ‘compulsory retirement’

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ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday imposed major penalty, including removal from service and compulsory retirement, upon 22 customs officers after investigation reports found them guilty of inefficiency and misconduct.

OECD educates Pakistan’s financial industry on automatic exchange of information

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KARACHI: Federal Board of Revenue (FBR) on Tuesday organized a seminar to address the queries of stakeholders regarding common report standard under automatic exchange of information with OECD member countries.