Author Archives: Anjali

List of 404 items requiring 100pc cash margin on import

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KARACHI: Following is the detailed list of items on which State Bank of Pakistan (SBP) has imposed restriction of mandatory 100 percent cash margin at the time of Letter of Credit.

Further tightening of laws for non-filers in budget 2017/2018: Member IR Operations

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KARACHI: Federal Board of Revenue (FBR) has indicated further tightening of laws against non-filers on income tax returns in the budget 2017/2018.

SBP allows remittances up to 30pc of Hajj package

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KARACHI: State Bank of Pakistan (SBP) has allowed the banks to make remittances in foreign currency up to 30 percent of the Hajj package on behalf of Hajj Group Organizers (HGOs).

Banks asked to provide information of foreign investors with respect to securities export

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KARACHI: State Bank of Pakistan (SBP) has directed the banks (authorized dealers in foreign exchange) to provide information with regard to non-resident investors.

SBP imposes 100pc cash margin on import of motor vehicle, mobile phones, consumer items

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KARACHI: State Bank of Pakistan (SBP) on Friday imposed 100 percent cash margin requirement for import of motor vehicle, mobile phones, cosmetics and other consumer items.

SRB to hold meetings with stakeholders from next week

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KARACHI: Khalid Mahmood, Chairman, Sindh Revenue Board (SRB) on Wednesday said that issues between the revenue body and stakeholders will be resolved soon as the SRB is going to hold meetings separately with representatives of each sector from next week onwards.

FBR to reward whistleblowers under benami law

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KARACHI: The Federal Board of Revenue (FBR) will give reward to a person, who provides credible information and that is helpful in identification of a benami property or benami transaction.

Sindh governor assures resolving issues between industry, FBR

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KARACHI: Governor Sindh Muhammad Zubair has assured that a meeting between Karachi Chamber of Commerce and Industry (KCCI) and Chairman Federal Board of Revenue (FBR) along with other relevant officials will be called soon at Governor House in order to discuss and resolve the issues being faced by the business and industrial community of Karachi due to massive discretionary powers and constant harassment by FBR officers.

SBP issues mechanism for 0.3 million tons urea export quota

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KARACHI: State Bank of Pakistan (SBP) on Tuesday issued instructions to banks for processing of allocated export quota of 0.3 million tons of urea.

SBP issues fake email alert

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KARACHI: State Bank of Pakistan (SBP) on Tuesday issued alert against scam email suggesting recipients has received huge sum of foreign currency in their accounts.