KARACI, January 20, 2019: Following are some important economic news of the last week: The government found another reason to sigh with relief as the crucial current account deficit (CAD) slipped slightly by 4.4% to $7.98 billion, driven by a fourth quarter decline of 10%, according to data released by the State Bank of Pakistan…
KARACHI, January 20, 2019: In order to provide relief, Pakistan Tehreek e Insaf (PTI) government is considering to abolish withholding tax on banking transactions by filers. Sources told TheBizUpdate.com that Hammad Azhar Minister of State for Revenue has showed willingness to abolish withholding tax on cash transaction for filers, which are paying some 0.3 percent…
Karachi, January 18, 2019: Sindh High Court retained Sindh Board of Revenue from collecting Stamp Duty from Imtiaz Super Market on Unexecuted Purchase Orders. The Division Bench of High Court of Sindh headed by Justice Aqeel Ahmed Abbasi while hearing a constitutional petition filed by Imtiaz Super Market against Board of Revenue Sindh restrained the…
KARACHI, January 17, 2019: The latest edition of Global Economic Conditions Survey (GECS) from ACCA (the Association of Chartered Certified Accountants) and IMA (Institute of Management Accountants) finds Pakistan’s economic confidence fell sharply in the final quarter of 2018. The global poll of 3,800 accountants found Pakistan’s economy to be amongst the lowest in the South Asia region as it continues to…
Karachi, January 17, 2019: In order to encourage banks to collect more funds for construction of Dams, State Bank of Pakistan (SBP) has announced to reimbursement of TT Charges on dam fund remittances transactions. SBP has announced that the amount received by domestic banks from overseas Pakistanis as donations/contributions for the ‘Prime Minister and Chief…