News
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Duty drawback facility on wheelbarrow tyres, tubes allowed
ISLAMABAD (December 31 2002) : The Central Board of Revenue (CBR) has announced duty drawback facility on the export of…
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KPMG talks of implementing IAS globally
KPMG, one of the world's largest accounting firms, plans to enhance efforts to have countries adopt by 2005 a set…
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The last gasp at Andersen
Arthur Andersen, the auditor, had by the fall of 1940 made enough of a mark on the accounting profession that…
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Unilever keeps faith with PwC despite higher charges
Unilever, the consumer goods giant, has reappointed PricewaterhouseCoopers as its auditor despite the accounting firm's decision to raise its fees.…
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Auditors crack whip, preach tough love post-Enron
NEW YORK, Dec 30 (Reuters) – Accounting firms, after months of criticism that they were too cozy with their audit…
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Auditor's insurance fees skyrocket
Insurers are raising the fees they charge accounting firms because of heightened concern over recent balance-sheet scandals and some insurers…
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Three percent additional sales tax on spun yarn removed
ISLAMABAD (December 31 2002) : Giving major tax relief to the textile industry, the government has exempted the manufacturer-cum-suppliers of…
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SBP reduces export refinance rate by one percent
KARACHI (December 31 2002) : The State Bank on Monday announced a further cut in the export refinance rate by…
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Pakistan's 1999-2002 economic performance: GDP averaged at 3.3 percent, inflation at 3.8 percent
ISLAMABAD (December 31 2002) : Recounting its economic successes during military regime the Finance Division says that real GDP averaged…
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Pakistan's banking sector marks decline in demand against high growth in deposits
KARACHI (December 31 2002) : Despite high growth of deposits the banks have to face difficult situation as the demand…