Investment and economy related information
ISLAMABAD: Pakistan’s economic managers are all set to launch a major scheme for luring commercial banks to establish joint ventures with hundreds of branches of international banks operating at selected destinations in Gulf, Europe, USA, Malaysia and others to boost up remittances from overseas workers through official banking channels. The …
The Habib Bank Limited has announced its decision to wind up operations in New York following intimation from the state’s financial regulator as it seeks to impose a hefty penalty of nearly $630 million on the bank, it emerged on Monday. The fine is going to be imposed for violation …
ISLAMABAD, May 26 (APP): Finance minister Ishaq Dar Friday, lauding the contributions made by expatriate Pakistanis, announced that the government wanted them to invest in the national infrastructure and in that connection, US$ 1 billion non-convertible bond would be issued. The proposed bond would be floated through establishment of Pakistan …
In a move that may eventually force influential people to disclose their offshore beneficial ownerships, a Senate panel on Wednesday proposed an amendment to the Companies Bill to make it binding on non-resident and dual-national Pakistanis to disclose their monetary interests abroad. The Senate Standing Committee on Finance amended Clause …
Defence Savings Certificates Certificates can be purchased from any National Savings Centre (NSC), Pakistan Post Offices (PPO), Authorized branches of Scheduled Banks and State Bank of Pakistan (SBP) by filling in a prescribed form called SC-1, which is available at all the above offices of issue free of cost. A …
At a time when remittances to Pakistan slow down, a leading mobile financial services company has partnered with a global digital money transfer firm to attract 5% of total remittance flow to the country. Announcing the formal launch of digital remittance services, in partnership with UK-based WorldRemit, Mobilink International Remittance …
Lahore: As the remittances have registered a decline of more than 36 percent, the All Pakistan Business Forum (APBF) has suggested the government to announce incentives for oversees Pakistanis so that the drop in foreign remittances could be controlled, besides boosting investment in the country by Pakistani expatriates. APBF president …
Pakistan Customs on Thursday issued the procedures for importers to file online import form (I-Form) through the online tax system, Web-Based One Customs (WeBOC). The I-Form is a joint initiative of Pakistan Customs and the State Bank of Pakistan (SBP) to curb under-invoicing and tax avoidance. “This initiative will …
Commissioner Overseas Pakistanis Commission (OPC) Punjab Afzaal Bhatti has said that Punjab Province offers most lucrative and low-risk opportunities for investors specially in the field of energy, agriculture, livestock & dairy development, mines & minerals, tourism and infrastructure. According to the spokesperson of the OPC during a meeting with Ambassador …
ISLAMABAD: The Central Directorate of National Savings (CDNS) is planning to introduce a savings scheme exclusively for overseas Pakistanis to mobilise part of their earnings on attractive terms. This was stated by National Savings Director General Waqar Ahmed in a meeting held at the Ombudsman Secretariat to review the implementation of …