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Daily Archives: December 30, 2021

Taxes Worth Only Rs. 2 Billion to be Imposed on the Common Man in New Finance Bill

A Special Cabinet meeting was convened on 30 December 2021 to discuss and approve the Finance (Supplementary) Bill, 2021. Chairman Federal Board of Revenue (FBR) explained the salient features of the Bill. In his presentation, he emphasized the importa…

Govt Tables Supplementary Finance Bill in National Assembly

The Finance Minister, Shaukat Tarin, on Thursday, presented the Supplementary Finance Bill in the parliament amid strong protest from opposition benches.The bill, dubbed the mini-budget by opposition parties, was originally scheduled to be presented in…

SECP Issues Guidebook for Non-Bank Finance Companies to Facilitate Investors

As part of its objective to promote ease of doing business, the Securities and Exchange Commission of Pakistan (SECP) has issued a procedural guide on the formation and licensing of Nonbank Finance Companies (NBFCs) in order to facilitate the prospecti…

SBP Reserves Plunge by $298 Million

The foreign exchange reserves held by the State Bank of Pakistan (SBP) fell week-over-week by $298 million (1.64 percent).According to the central bank’s weekly report released on Thursday, the country’s total liquid foreign exchange reserves went down…

Rupee Posts Highest Ever Recovery After 31 Sessions Against the US Dollar

The Pakistani Rupee (PKR) has finally reversed its losing streak against the US Dollar (USD) and appreciated by 72 paisas against the greenback in the interbank market today. However, it hit an intra-day low of Rs. 178.57 against the USD during today’s…

Federal Govt to Bear Reqo Diq Development Costs: PM Khan

The federal government will cover the entire cost of the development of Reqo Diq, which is one of the world’s largest undeveloped copper and gold mines in Balochistan.Prime Minister (PM) Imran Khan tweeted the declaration after criticism from the provi…