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PTBA demands immediate removal of FTO
KARACHI: The Pakistan Tax Bar Association (PTBA), the apex tax bar of the country, has demanded removal of Asif Jah from the office of the Federal Tax Ombudsman. –SHAHNAWAZ AKHTER
ECC approves withdrawal of sales tax on subsidy granted to distribution companies
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved the summary submitted by the Ministry of Energy regarding withdrawal of sales tax on subsidy granted to the distribution companies. –HAMZA HABIB
Belgium can serve as transit destination for Pakistan’s exports: envoy
LAHORE: Belgium could be a good transit destination for Pakistani exports to Europe, a diplomat said on Wednesday. –IQTIDAR GILANI
Wapda, SCO sign Rs860 million IT services contract for Diamer-Basha Dam construction
LAHORE: The Water and Power Development Authority (Wapda) and the Special Communication Organisation (SCO) signed an agreement worth Rs860 million for an uninterrupted and state-of-the-art communication and information technology services for the dam project, a statement said on Wednesday. –IQTIDAR GILANI
Careem’s investment in Pakistan reaches $100 million; 800,000 jobs created
ISLAMABAD: Since its inception in 2015, Careem has invested $100 million in Pakistan, creating a customer base of 9 to 10 million people. –HAMZA HABIB
FBR chairman wants to promote culture of efficiency, integrity
ISLAMABAD: Federal Board of Revenue chairman Dr Muhammad Ashfaq Ahmed has emphasised on the scope of qualitative performance of officers and officials to promote a culture of efficiency, transparency and integrity within the apex tax body. –HAMZA HABIB
FBR registers 215 FIRs worth Rs235 billion under AML Law
ISLAMABAD: The tax authorities have so far registered 215 FIRs worth Rs235 billion during the last four years under the Anti-Money Laundering (AML) Law. –HAMZA HABIB
FBR plans separate Customs Collectorate for fuel imports
KARACHI: The Federal Board of Revenue (FBR) plans to create a dedicated Customs Colectorate for the processing of liquefied natural gas (LNG), liquefied petroleum gas (LPG) and other liquids, as well as solid bulk cargo imports. –JAVED MIRZA
Rupee recovers 24 paisas against dollar
KARACHI: The rupee made a recovery of 24 paisas against the dollar on improved sentiments regarding foreign inflows and falling international oil prices, dealers said on Wednesday. –SHAHNAWAZ AKHTER
Microfinance Bank posts record growth in M-Wallets
KARACHI: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has successfully retained its market standing as a leader in terms of microcredit and micro-savings during the third quarter of the financial year 2021, as per the latest report released by the Pakistan Microfinance Network. –SHAHNAWAZ AKHTER
FBR extends implementation of digital payment for another month
KARACHI: The Federal Board of Revenue (FBR) on Wednesday extended the implementation of digital payment for the corporate sector for another month. –SHAHNAWAZ AKHTER
Sindh minister directs uninterrupted water supply to industries
KARACHI: Sindh Local Government Minister Syed Nasir Hussain Shah has issued directives to the Water Board managing director to provide uninterrupted water supply to industries in North Karachi Industrial Area and said that the promotion of industries and productive activities is the top priority of the PPP government so that maximum employment opportunities can be created, a statement said. –JAVED MIRZA
Bulls reign in on PSX: Index gains 296.76 points
KARACHI: The Pakistan stocks market remained in the green territory on the first day of the month after the adjustment of the MSCI-related outflows, dealers said on Wednesday. –JAVED MIRZA
Pakistan’s exports grow 33% in November
KARACHI: Pakistan’s exports in November surpassed the target $2.6 billion set by the government for the month, an adviser to the Prime Minister tweeted on Wednesday. –LATIFUR REHMAN
Islamic banking showing phenomenal growth: Tarin
ISLAMABAD: Islamic finance is one of the most rapidly growing sectors of the global financial system, as it has emerged as an effective tool for financing development worldwide, including in non-Muslim countries, a senior government official said. –HAMZA HABIB
Construction of new 132KV grid stations approved
LAHORE: The board of directors of the Punjab Industrial Estates Development and Management Company (PIEDMC) has approved the construction of new 132KV grid stations in Multan and Sundar Industrial Estate and the payment of bank guarantee and annual fee to the National Electric Power Regulatory Authority (Nepra) for the distribution licence in Vehari Industrial Estate, a statement said. –IQTIDAR GILANI
Rupee gains 52 paisas against dollar
KARACHI: Pakistani rupee gained 52 paisas against the dollar in early trade at the interbank foreign exchange market on Wednesday. –LATIFUR REHMAN
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