ISLAMABAD:Transaction through special FERC

 OP Info  No Responses »
Feb 262012
 

Foreign remittances increase by 25%

Ijaz Kakakhel

Through a special package of Foreign Exchange Remittance Card (FERC), sending of foreign remittances to the country has registered 25 percent increased as compared to last year’s sending, sources in the Ministry of Overseas Pakistani told Daily Times on Saturday.
It claimed that $11.200 billion worth of foreign remittances were sent to the country during the fiscal year 2010-11, while last year the amount was $8.905 billion, showing 25 percent increase in remittances sent to the country through normal banking channels. During first six months of the current fiscal year (July to December 2011), expatriates remitted $6.325 billion, which according to the sources was higher by 19.54 percent as compared to last year’s sending through normal banking channel. Continue reading »

 Posted by at 1:31 pm

Government considering various options to give overseas Pakistanis right to vote

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Feb 262012
 

Government is considering various options, including postal ballot system, to give right of vote to over 3.7 million overseas Pakistanis by making amendment in the election laws, it was learnt.

After the announcing right to vote for overseas Pakistanis, various options are under consideration to facilitate Pakistanis abroad, including those living in the areas far from Pakistanis foreign missions, to enable them participate in the election process.

Talking to Business Recorder, Secretary ECP, Ishtiaq Ahmed Khan confirmed that work is currently underway to make amendment in the election laws for extending postal ballot system to overseas Pakistanis. Continue reading »

 Posted by at 1:30 pm

Pakistan embassy in UAE starts meetings over voting mechanism

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Feb 192012
 

DUBAI: Pakistani embassy in Abu Dhabi has started a series of meetings to evolve a voting mechanism for the eligible voters from nearly 1.2 million Pakistanis living across the UAE, Jamil Ahmed Khan, Pakistan Ambassador to the UAE, said.

The Election Commission of Pakistan on February 14 decided to grant voting rights to overseas Pakistanis. The decision will allow 3.7 million Pakistanis living abroad to vote.

The ambassador said that the recommendations of the first meeting at the embassy were forwarded to the government in Islamabad. They will be considered by the Election Commission at its meeting. He said that all political parties have to agree on the mechanism.

There could be early hiccups if polling stations are set up at the missions because voters living in far flung areas might find it difficult to reach the missions, thus more polling stations will be needed across the UAE, Khan said.

If voting is held by postal ballot, the result of several constituencies could be delayed if the ballot is delayed in post, he said.

The third option, he said, was to allocate a separate quota for overseas Pakistanis in the national and provincial assemblies and in the Senate so that overseas Pakistanis could be elected by direct voting. Continue reading »

 Posted by at 6:22 pm

Launch of FERC to facilitate overseas Pakistanis

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Feb 192012
 

ISLAMABAD: A special package of Foreign Exchange Remittance Card (FERC) has been introduced by Ministry of Finance to encourage the overseas Pakistanis (OPs) to remit their earning through legitimate channels. Senior officials of Ministry of Overseas Pakistanis in a briefing informed the Senate Standing Committee on Overseas Pakistanis the scheme introduced to facilitate those overseas Pakistanis who remit money through normal banking Continue reading »

 Posted by at 6:16 pm

ISLAMABAD: overseas Pakistanis get right to vote

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Feb 152012
 

* All Pakistanis who possess National Identity Card for Overseas Pakistanis will be registered in electoral rolls

The Election Commission of Pakistan (ECP) has allowed all overseas Pakistanis the right to vote in general elections, given they have their National Identity Card for Overseas Pakistanis (NICOP).
The decision was made at a meeting held in the ECP Secretariat on Tuesday.
The meeting, chaired by ECP Secretary Ishtiak Ahmad Khan, decided that all Pakistanis having NICOP would get registered in the electoral rolls and be allowed to exercise the right of franchise.
Ishtiak Khan requested the participants of the meeting to give serious consideration to the process by which overseas Pakistanis could properly be involved in the political process of the country. Continue reading »

 Posted by at 11:03 am

ISLAMABAD: FED increases on air travel

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Feb 152012
 

*Duty decreases on domestic travel by Rs 40, Rs 100 on int’l travel

By Sajid Chaudhry

The Federal Board of Revenue (FBR) here on Tuesday increased the Federal Excise Duty (FED) rates on air travel facilities used by domestic and international passengers by Rs 40 and Rs 100, respectively.
This step has been taken according to FBR notification SRO 47 (i) 2012, in exercise of powers conferred by Sub-Section (4) of the Section 3 of the Federal Excise Act, 2005, and in supersession of FED rates prescribed against Serial Number 3 of the Table-II of the first schedule to the Federal Excise Act, 2005. The federal government is pleased to levy FED on these services, with immediate effect. Continue reading »

 Posted by at 11:02 am

ISLAMABAD: Blue-eyed appointments galore in OPF

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Feb 112012
 

By Ahmad Ahmadani-The Nation

The Federal Minister for Overseas Pakistanis Dr Muhammad Farooq Sattar is ostensibly hell bent to get blue-eyed appointed against all vacant posts in OPF on priority basis and has desired to initiate the recruitment process, it has reliably been learnt.

Sources privy to the matter informed The Nation that government guru apparently in connivance with Secretary Ministry of Overseas Pakistanis Nadeem Ashraf are all out to initiate a process of recruitment against vacant posts though the financial health of the organization does not permit to put extra burden on it. They were of the opinion that in a bid to meet the agenda, minister has gotten rid of Israr Khan Jamali and Manzoor Ahmad, a BS-21 officer of the Police Group has now been appointed as MD on deputation basis with the recommendations of Farooq Sattar (The Minister) in the OPF that might lead to an economic jerk to the organisation because it is comprised of recruitment against the posts which were advertised in 2010 and interviews were done in last year. Again, the minister is desperate to award a contract worth Rs 42 crore of removing surplus soil from OPF housing Scheme Zone-V, Islamabad without the consent of ‘allotees’ (overseas Pakistanis). Continue reading »

 Posted by at 5:43 pm

Remittances from overseas Pakistanis grow by 21.54pc to $7.44 billion

 Investment & Economy  No Responses »
Feb 112012
 

KARACHI: Overseas Pakistani workers have sent $7.44 billion in the first seven months of FY12 against $6.11 billion in the corresponding months last year, showing a growth of 21.54 percent, the State Bank of Pakistan (SBP) said on Friday.

The monthly average remittances received for July-January FY12 comes out to be $1.062 billion against $874 million in the corresponding period last year, registering an increase of 21.54 percent. Continue reading »

 Posted by at 5:42 pm