Category Archives: Finance

Mobile phones import falls by 14.6pc on cash margin requirement

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KARACHI: The imposition of 100 percent cash margin requirement has started yielding results as import of mobile phones registered decline of 14.6 percent in February 2017 as compared with the previous month.

Taxing wealth created in real estate, stock market advised

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ISLAMABAD: The government has been advised to tax the wealth created in real estate and stock market besides there is need to lower corporate taxes.

FBR making all out efforts to achieve tax collection target: Dr. Irshad

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ISLAMABAD: Dr. Muhammad Irshad, Chairman, Federal Board of Revenue (FBR) on Saturday that the revenue body is making all out efforts for reaching the current year tax collection target of Rs3,621 billion.

Rebasing the GDP exercise underway to capture emerging sectors: Finance Minister

ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Saturday said that an exercise of rebasing the GDP is ongoing as many new sectors are emerging in the economy and they have not been covered in current statistics.

Budget 2017/2018 likely before Ramazan

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ISLAMABAD: The government is likely to present federal budget 2017/2018 ahead of Ramazan or last week of May 2017.
Budget, as earlier decided is proposed to be presented before the National Assembly ahead of Ramazan as would be the Economic Survey 2016/2017. It was decided at a meeting chaired by Federal Minister for Finance Senator Mohammad Ishaq Dar on Wednesday to review state of preparations for the budget 2017-2018.

Retail sector’s deposits fall by around 15pc since imposition of withholding tax on non-cash transactions

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KARACHI: Bank deposits of retail sector has declined by around 15 percent since imposition of withholding tax on non-cash banking transactions.

Pak-Iran central banks to sign agreement for resuming banking channels next week: FPCCI

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KARACHI: The two central banks of Pakistan and Iran are likely to sign agreement next week for opening banking channels to streamline trading activities between the two countries, Zubair Tufail, president, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) said on Tuesday.

Bank holiday

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KARACHI: State Bank of Pakistan (SBP) on Tuesday said that it will remain closed on March 23, 2017 (Thursday) being public holiday on the occasion ‘Pakistan Day’, as declared by the government.

SBP directs banks to prepare three-year plan for strengthening presence in Baluchistan

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KARACHI: State Bank of Pakistan (SBP) has directed commercial banks to prepare three years business plan to strengthen their presence in Baluchistan.