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CBR issues 'Green', 'Red' channels lists

ISLAMABAD (October 10 2006): The Central Board of Revenue (CBR) has issued lists of duty-free allowances admissible for clearance of goods under the 'Green Channel' facility, and dutiable items covered under 'Red Channel' at all international airports in the country. Sources said on Monday that the CBR has issued instructions to collectors of customs for proper implementation of baggage rules ...

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ACCA Pakistan to Conduct Corporate Governance Survey

The recently set up Pakistan Institute of Corporate Governance (PICG) was established to promote and help improve upon corporate governance practices in Pakistan. PICG is now launching a corporate governance survey to determine the current state of corporate governance practices in the country. ACCA Pakistan would be providing assistance in this regards. The Securities and Exchange Commission of Pakistan (SECP) ...

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CBR notifies powers of valuation, PCA departments officials

ISLAMABAD (October 05 2006): The Central Board of Revenue (CBR) has empowered the valuation officers, appraisers and auditors of Valuation Department and Post-Clearance Audit Department who would open and examine any package/consignment brought to the customs stations for import/export and take samples of goods for ascertaining their value. The Board on Wednesday superseded SRO 917(I)/2004 through a notification issued to ...

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SECP, IFC and PICG Launch Corporate Governance Survey

ISLAMABAD (October 03 2006): The International Finance Corporation (IFC), the Securities and Exchange Commission of Pakistan (SECP) and Pakistan Institute of Corporate Governance (PICG) on Monday launched a country-wide corporate governance survey to collect benchmark information for improving corporate governance, particularly in local companies and banks. ACCA Pakistan, which has extensive international experience and corporate governance expertise, will be conducting ...

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E&Y, PwC Top Employers for Working Mothers in the US

Big Four accounting firms Ernst & Young and PricewaterhouseCoopers are recognized as two of the best companies in the U.S. for working mothers, according to an annual survey by Working Mother magazine. Both firms make an appearance in the magazine’s top 10 of “100 Best Companies” list, which celebrates employers who are “head and shoulder above the¬† mainstream” with¬†flextime plans, ...

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SEC Invests $54 Million for XBRL System for Corporate Filings

The Securities and Exchange Commission in US has awarded four separate contracts totaling $54 million to develop an interactive data system for corporate filings so that the public has easier access to the information. Interactive data, known as XBRL or eXtensible Business Reporting Language, has high priority on SEC Chairman Chris Cox's to-do list. The SEC instituted the XBRL Voluntary ...

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MBA Students More Likely to Cheat, New Survey Finds

A survey of 5,331 students at 32 graduate schools in the United States and Canada found an “alarming” amount of cheating across disciplines, but more among the nation's future business leaders. Fifty-six percent of graduate business students admitted they had cheated at least once in the last year, compared with 47 percent of non-business students. The students, who were surveyed ...

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SECP issues show-cause to CSIBL and directors on charges of fraud and misconduct

KARACHI (September 16 2006): The Securities and Exchange Commission of Pakistan (SECP) has issued a show-cause notice to the Crescent Standard Investment Bank Ltd (CSIBL) its chairman and directors why the bank's licence should not be cancelled on the basis of SECP's inspection reports about “fraud, misfeasance and misconduct”. The details of the CSIBL affair are contained in the 29-page ...

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CBR to hire legal experts to assist in its restructuring

ISLAMABAD (September 16 2006): The Central Board of Revenue (CBR) has decided to appoint legal counsels, including individuals and companies, who have specialised in the government service rules to assist the ongoing restructuring and reorganisation of its field formations. Official sources told Business Recorder on Friday the reorganisation of income tax, sales tax and customs departments is under process. This ...

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SBP seeks comments on Securities Bill draft

KARACHI (September 14 2006): The State Bank of Pakistan (SBP) has sought the opinion, comments of concerned quarters on Government Securities Bill (GSB), 2006 draft to replace Public Debt Act 1944 that governs Government Securities business at present. The State Bank of Pakistan (SBP) has placed the draft bill on its web-site and sought comments/opinion from all concerned quarters to ...

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