FBR Allowed to Investigate Income Tax of Offshore Income/Assets Beyond 5 Years
The Senate Standing Committee on Finance on Thursday gave a go-ahead to the Inland Revenue officials of the Federal Board of Revenue (FBR) to investigate past income tax returns beyond the five years period of owners of offshore income and assets abroa…
Pak Oman Microfinance Bank Appoints New CEO
The Board of Directors of the Pak Oman Microfinance Bank has appointed Farooq Rashid as its new Chief Executive Officer (CEO).Rashid has more than 25 years of senior management experience, including a decade of strategic development and the promotion o…
ECC Approves $17.3 Million for PIA to Pay Off Roosevelt Hotel’s Liabilities
The federal Minister for Finance and Revenue, Shaukat Tarin, chaired a meeting of the Economic Coordination Committee (ECC) of the cabinet today.The ECC approved $17.3 million for PIA-IL for the payment of recurring and one-off liabilities in respect o…
Banks Can Now Charge Fee on Interbank Funds Transfers Above Rs. 25,000
Seemingly on the insistence of commercial banks, the State Bank of Pakistan (SBP) has allowed banks and various service providers to charge a minimal fee from the Interbank Funds Transfer amounting above Rs. 25,000.The central bank directed banks to pr…
Govt Launches Smart Village Projects Throughout Pakistan
Initially, one Smart Village will be established each in Islamabad, Punjab, Balochistan, Sindh, Khyber Pakhtunkhwa, and Gilgit-BaltistanThe Ministry of Information Technology and Telecommunications (MOIT&T), through Universal Service Fund (…
Coca-Cola ?çecek to Invest $50 Million for Another Production Plant
A delegation of Coca-Cola Icecek (CCI Pakistan), including General Manager Ahmet Kursad Ertin, met with the Prime Minister of Pakistan and announced an investment of $50 million for a Greenfield project the company plans to set up in Haripur District, …