Author Archives: Anjali

Country spends $333.7 million on import of mobile phones, telecom apparatus in July-Sept

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KARACHI: The country has spent foreign exchange worth $333.7 million on import of mobile phones and other telecom apparatus in first three months of current fiscal year, according to data released by Pakistan Bureau of Statistics (PBS) on Saturday.

Import of CBU vehicles surges by 44.57pc in first quarter of FY18

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KARACHI: Import of completely built up (CBU) vehicles has surged by 44.57 percent in first quarter of current fiscal year due to high demand in the local market.

Chemical merchants reject imposition of regulatory duty on raw material

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KARACHI: Pakistan Chemicals & Dyes Merchant Association (PCDMA) has rejected the imposition of regulatory duty on 731 items saying it will increase the cost of manufacturing of various products besides inflate prices of various consumer products.

Foreign direct investment registers 56.3pc growth in first quarter

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KARACHI: Foreign Direct Investment (FDI) has surged by 56.3 percent during the first quarter of current fiscal year owing to inflows from China under CPEC related project.

PTBA demands tax relief for senior citizens on Bahbood Certificates, Pensioners Benefit Account

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KARACHI: Pakistan Tax Bar Association (PTBA) has demanded the Federal Board of Revenue (FBR) of bringing Bahbood Certificate/Pensioners Benefit Account under normal tax regime for providing tax relief to senior citizens.

Mobile banking transactions increase by 25.7pc

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KARACHI: The mobile banking based transactions have witnessed growth of 25.7 percent to Rs141.4 billion during fiscal year 2016/2017 as compared with Rs112.5 billion in the preceding fiscal year.

Internet banking volume grows by 32.62pc in FY17

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KARACHI: The volume of transactions through Internet banking have registered growth of 32.62 percent to 25.2 million in fiscal year 2016/2017 as compared with 19 million in the preceding fiscal year, State Bank of Pakistan (SBP) said in its annual report on payment system for fiscal year 2016/2017 released on Monday.

SBP recommends installation of water metering devices for equitable charges

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KARACHI: State Bank of Pakistan (SBP) has suggested installation of metering devices for regulating charges applied on water supply and making equitable system for household usage.

Sales tax collection from POL products down by 17.7pc: SBP

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KARACHI: State Bank of Pakistan (SBP) on Thursday said that the collection of sales tax from petroleum products sharply declined by 17.7 percent in fiscal year 2016/2017.