Islamabad, July 23, 2019: The government has recently announced to reduce truckload by 50 percent without realizing the devastating impact it will have on more than 45 local industries. Let’s start with the transport industry. Currently, Pakistan has approximately 330,000 Trucks on the road (310,000 trucks and 20,000 oil tankers). And after this axle limitation, Pakistan…
Karachi, July 22, 2019: State Bank of Pakistan has clarified that it has changed instructions on purchase of foreign currency notes by the banks. SBP on Monday said that Foreign exchange policy and its operations in Pakistan are formulated and regulated in accordance with the provisions of the Foreign Exchange Regulations Act, 1947 (FERA). For…
Karachi, July 22, 2019: Input tax inadmissibility against sales made without CNIC should be as a percentage of such sales applied in stages increasing progressively, Saud Mahmood, Chairman SITE Taxation and Trade Policy. In order to dampen the effect a major policy decision of submission of CNICs, SAI strongly recommends that input tax inadmissibility should be made in stages giving time for the…
Karachi, July 20, 2019: Considering the market dynamics, business environment and changes in way of doing business, the State Bank is in the process of revising the Foreign Exchange Manual in consultation with relevant stakeholders in a phased manner. The revision is mainly aimed at simplification of the existing instructions, adoption of best international practices,…
Karachi, July 19, 2019: Pakistan Stock Index oscillated ~650 during the session with +240 points and -408 points. The first session ended 240 points down and 49 million shares traded, whereas the second session saw a recovery in the index resulting in +240 points (unadjusted). News of State Enterprise / Market Opportunity Fund by State…