Category Archives: Finance

Parliament approval must for imposing regulatory duty


LAHORE: The All Pakistan Business Forum has rejected the imposition of additional regulatory duty on import, saying the government neither can impose any duty nor enhance taxes without the approval of the parliament. The regulatory duty was imposed by the government on 797 items including industry raw material without taking the business community on board who are the real stakeholders.

SECP issues instructions to listed companies for efiling financial statements


ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has directed all listed companies to submit their annual and quarterly financial statements through commission’s eServices.

National Savings to launch Rs100,000 denomination bonds

ISLAMABAD: National Savings is planning to launch Rs100,000 denomination prize bonds. The high denomination instrument is series of registered prize bonds especially after Rs40,000 premium prize bonds.

FBR directed to remove tax anomaly in Behbood Certificates, Pensioners Benefits Accounts


ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar has directed Federal Board of Revenue (FBR) to remove anomaly in tax treatment of Behbood Certificates and Pensioners Benefits Accounts.

Foreign direct investment registers 56.3pc growth in first quarter


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.

Mobile banking transactions increase by 25.7pc


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


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


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.

Income tax returns filing grows by 117.2 percent; FBR receives 352,000 returns for tax year 2017


ISLAMABAD: Federal Board of Revenue (FBR) has said that the income tax return filing for tax year 2017 has registered 117.2 percent growth to 352,000 returns by October 13, 2017 as compared with 162,000 returns filed on the same day of the last year.