Economic and Finance News
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CIRC, National Assets reach settlement
KARACHI: State-controlled Corporate and Industrial Restructuring Corporation (CIRC) and National Assets Leasing Corporation (NALC) have reached a financial settlement, under…
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SECP fines PICIC for insider trading
KARACHI: The Pakistan Industrial Credit and Investment Corporation Ltd (PICIC) has been fined Rs500,000 by the Securities and Exchange Commission…
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Adjudication collectorates powers enhanced
ISLAMABAD (January 05 2005): The Central Board of Revenue (CBR) has empowered the collectors, collectorates of customs, sales tax and…
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SBP revises criteria for banks to open new branches
KARACHI (January 05 2005): The State Bank of Pakistan (SBP) has revised criteria for banks to open new branches. A…
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UBL, Askari and Prime Bank may float Rs 4.3 billion terms finance certificates
KARACHI (January 05 2005): The United Bank Ltd, Askari Commercial Bank, and the Prime Commercial Bank Limited have planned to…
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CED exemption on cement used in EPZs not allowed
ISLAMABAD (January 04 2005): The Central Board of Revenue (CBR) has turned down a major demand of the ministry of…
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Tax disputes: CBR launches drive for out-of-court settlement
ISLAMABAD (December 21 2004): The Central Board of Revenue (CBR) has launched a countrywide campaign to encourage the business community…
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15 percent duty on wheat flour export
ISLAMABAD (December 22 2004): The Central Board of Revenue (CBR) has issued instructions to all collectors of customs to charge…
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Export miscalculation: revenue loss to be deducted from drawback claims
KARACHI (December 20 2004): The Collectorate of Customs (Export) has said the cases of export valuation with a loss of…
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GST rate may be revised downward
ISLAMABAD (December 16 2004): The current 15 percent general sales tax (GST) in Pakistan is comparatively higher as compared to…
