Monday , July 26 2021
Breaking News
Home / Islamabad

Islamabad

Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

NA passes Act to attract FDI in tech sector

ISLAMABAD: The National Assembly (NA) has passed the Special Technology Zone Authority Act, 2021 to attract foreign direct investment (FDI) in the country. The document states that the lower house of parliament has approved the bill pertaining to the development of the scientific and technological ecosysttem through the development of zones in the country. The government, through this act, wants ... Read More »

Credit to private sector spikes 12pc to Rs6.82tr

ISLAMABAD: The banks’ credit to the private sector jumped 12% to a total of Rs6.82 trillion in the previous fiscal year (FY21), as a number of sectors- including those which got government’s support and those that played a key role in turning the economy around- borrowed more during the year. The credit increased by Rs741 billion from FY20’s level of ... Read More »

Islamabad I&I to hold auction of 13 NDP vehicles on July 26

ISLAMABAD: The Directorate of Customs Intelligence and Investigation (I&I) has announced auction of confiscated vehicles on July 26, 2021 at state warehouse. The directorate will present the vehicles for auction included: Toyota Aqua Hybrid Car. Model 2012. Chassis No. NHP10-2031680. Engine No. 1NZ-013618. Color sky blue. Registration No. AJY-183, Islamabad. Toyota Aqua Hybrid Car. Model 2013. Chassis No. NHP10-2255306. Engine ... Read More »

Pakistan hopeful of another $1b in debt relief from G20

ISLAMABAD: Pakistan is hopeful to get a third relief in debt payments from the G20 countries, seeking a suspension of over $1 billion payments. According to a local media report, the country has sought an overall debt relief of $3.78 billion from G20 countries which would be provided in three phases. The report states that Pakistan has already received relief ... Read More »

FBR Member Dr Ashfaq among 25 tax experts appointed by UN

ISLAMABAD: The United Nations has appointed a group of 25 tax experts, including a senior member of the Federal Board of Revenue (FBR), a statement said. United Nations Secretary General António Guterres appointed a distinguished group of 25 tax experts from around the world to serve as members of the United Nations Committee of Experts on International Cooperation in Tax ... Read More »

Asim Bajwa vows to unlock Northern Areas potential under CPEC

ISLAMABAD:  China Pakistan Economic Corridor (CPEC) Authority Chairman Lieutenant General (r) Asim Saleem Bajwa vowed to unlock potential of the country’s Northern Areas in line with Prime Minister Imran Khan’s decision. In a tweet, the CPEC Authority chairman who is currently on Gilgit Baltistan (GB)’s visit said he met with the GB Chief Minister Khalid Khurshid to discuss with him ... Read More »

OMAP calls for end to OMCs ‘witch hunt’

ISLAMABAD: Oil Marketing Association Pakistan (OMAP) called for an end to the witch hunt of the oil marketing companies saying it was increasingly becoming difficult for them to operate under the current circumstances. OMAP Chief Executive Officer Dr Ilyas Fazil in a letter to Federal Minister for Energy Hammad Azhar appealed for an end to the spate of enquiries against ... Read More »

Pakistan’s exports during last FY have shown over 70pc growth

ISLAMABAD: Pakistan s exports during the last fiscal year have shown over 70 percent growth. According to a report of the Pakistan Bureau of Statistics, the exports during the fiscal year of 2020-2021 remained 2,729 million dollars as compared to 1,599 million dollars in corresponding year. Meanwhile, State Bank of Pakistan in a tweet said Pakistan s external position is ... Read More »

Govt decides to reverse sales tax on sugar to ex-mill rate till Nov 30

ISLAMABAD: The government, in order to ensure reasonable reduction in sugar price decided to reverse the sales tax to the ex-mill rate till November 30, 2021. The decision was taken during a meeting chaired by Prime Minister Imran Khan to review prices of essential commodities, PM office media wing said in a press release. The meeting was attended by Minister ... Read More »

Tarin chairs CMAC meeting to reform capital markets

ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin chaired the first meeting of the Capital Market Advisory Council (CMAC), which was established to introduce reforms in the capital markets in the country. According to press statement issued by the finance ministry, Special Assistant to Prime Minister on Finance and Revenue DrWaqar Masood, Secretary Finance Division, Chairman Securities and Exchange ... Read More »

IT ministry assigns Syed Husnain Abbas Kazmi as NITB executive director

ISLAMABAD: The Ministry of Information Technology and Telecommunication has assigned the post of executive director (ED) National Information Technology Board (NITB) to Director General (DG) Administration, Syed Husnain Abbas Kazmi. Sources said, Syed Husnain Abbas Kazmi has been assigned to the post of with immediate effect for a period of three months or till appointment of a regular incumbent, whichever ... Read More »

Abdul Qadir Memon posted as Chief Collector Enforcement South Karachi

ISLAMABAD: The Federal Board of Revenue (FBR) on Monday transferred and posted Abdul Qadir Memon as Chief Collector, Enforcement (South), Karachi. Abdul Qadir Memon, is a BS-20 officer of Pakistan Customs Service (PCS). He is currently posted as Collector, Collectorate of Customs, Hyderabad. Meanwhile, the FBR assigned Sadiaullah Khan the post of Collector, Collectorate of Customs, Hyderabad. Sadiqullah is also ... Read More »

Govt to complete spectrum auction process by mid-September

ISLAMABAD: The federal government is likely to complete the spectrum auction process by mid-September this year. Sources said that the federal cabinet in the last week of this month would give approval to the policy directive for the auction of Next Generation Mobile Services (NGMS) spectrum in Pakistan and Azad Jammu & Kashmir and Gilgit Baltistan (GB) after which the ... Read More »

Kamyab Pakistan Programme to be launched soon: Shoukat Tarin

ISLAMABAD: Finance Minister Shaukat Tarin lauded his team for the development of the Kamyab Pakistan Programme, saying that it will be launched soon. The finance minister commended all concerned officials who made efforts in designing the programme and taking it forward towards its formal launch, which is scheduled to take place soon. The minister said the government carried out an ... Read More »

FBR plans implementation on POS by July end to bring retailers into tax net

ISLAMABAD: Federal Board of Revenue (FBR) on Friday announced that it would begin implementation of the point of sales (POS) system by the end of July, bringing retailers into the tax net. According to the FBR, a mechanical system would be introduced for tax collection from retail shops, shopping malls, and departmental stores. “We will complete the survey of tiles ... Read More »

FBR issues guideline for taxpayers to check active taxpayers status

ISLAMABAD: Federal Board of Revenue (FBR) has issued guideline for facilitating taxpayers to check active taxpayers status. Active Taxpayer can check status in three ways: A verification through Online Portal The ATL status check allows you to confirm your Active Taxpayer status. Check Active Taxpayer status by SMS Check Individual’s Active Taxpayer status by SMS: Type “ATL (space) 13 digits ... Read More »

ECC approves Engineering Consultancy Services contract for up-gradation of Port Qasim Authority

ISLAMABAD:  Owing to an increasing gap between the subsidized prices offered by USC and the prevailing market prices, Economic Coordination Committee (ECC) of the Cabinet approved the revision an increase of Rs 150 per 20kg bag of flour, Rs 17 per kg of sugar and Rs 90 per kg ghee. Ministry of Maritime Affairs presented a summary regarding award of ... Read More »

Tarin invites German enterprises to invest in Pakistan

ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin invited German enterprises to make investment in Pakistan in different fields including health, education, agriculture and power sectors. In a meeting with Ambassador of Germany, Bernhard Schlagheck, who called on him here, Shaukat Tarin assured all possible support and facilitation in improving the trade and economic relations between the countries. He ... Read More »

No need for ‘attested’ Covid-19 vaccination certificate for travel from Pakistan to UAE

ISLAMABAD: The United Arab Emirates has withdrawn its requirement binding all Pakistani travellers to get their Covid-19 vaccination certificates attested by the Foreign Office and the UAE embassy starting August 1, hours after news of the condition became public. The order was withdrawn after the Foreign Office took up the matter with UAE authorities. Both FO spokesperson Zahid Hafeez Chaudhri ... Read More »

Undertaking made mandatory for IRS & PCS officials before promotion

ISLAMABAD: The Federal Board of Revenue (FBR) has made it mandatory for all officers and officials of Inland Revenue Service (IRS) and Pakistan Customs Service (PCS) to submit undertakings along with performance evaluation reports (PERs) for consideration of promotion to next grade. A circular issued by the FBR stated that henceforth all officers will submit undertaking with their PERs, otherwise ... Read More »