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Governor SBP Calls ICAP Role Model

Dr. Ishrat Husain, Governor State Bank of Pakistan (SBP) had a meeting with the Council Member and past Presidents of the Institute of Chartered Accountants of Pakistan (ICAP) on January 28, 2005, at ICAP House, Karachi. The ICAP President, Mr. Zafar Iqbal Sobani made a multimedia presentation on the activities of ICAP, and informed the Governor that the Vision of ...

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ICAP announces Professional/Final Winter 2004 examination results

KARACHI, January 31, 2004: The Institute of Chartered Accountants of Pakistan (ICAP) has announced the results of its Final/ Professional Examinations Winter 2004. Result Summary No. of Candidates Complete Passed in Final Examinations 115 Complete Passed in Module E (PE-1) 241 Permanent Credits in Module – E 446 Permanent Credits in Module – F 337 Award of Gold Medals Candidate ...

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NTN to be issued to foreign missions by February 28

ISLAMABAD (January 21 2005): The Central Board of Revenue (CBR) has decided to issue National Tax Numbers (NTNs) to all the diplomats/foreign missions, companies enjoying tax exemptions, non-profit welfare organisations and units operating in Export Processing Zones (EPZs) for the purpose of documentation. The decision would not only streamline imports by the diplomatic community, but would also be instrumental in ...

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SBP revises reporting format to curb bank frauds

KARACHI (January 20 2005): The State Bank of Pakistan (SBP) on Wednesday formulated the revised reporting requirement for banks, development finance institutions on fraud, forgery and dacoity cases. The decision has been taken in the wake of rising complexities of internal and external frauds in the banks and DFIs. The operational risk is gaining importance in the banking industry in ...

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ICAP holds conference

KARACHI: The Northern Region Committee of the Institute of Chartered Accountants of Pakistan in recognition of its broadening new horizons organised two-day conference here the other day. State Finance Minister Omar Ayub Khan inaugurated the session and informed government measures to identify various opportunities available in the country and role of professionals, according to a press release on Monday. The ...

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BearingPoint names new Chief Financial Officer

BearingPoint Inc. said Friday it has named Joseph Corbett, 45 years old, chief financial officer. The McLean-based business consulting and systems integration company said Corbett will join immediately. He most recently served as executive vice president and financial chief of Intelsat Ltd., a satellite-services company. Corbett replaces Robert Falcone, who retired effective Nov. 30. Falcone, 57, had served as the ...

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EU to Give Audit Watchdogs Greater Power

Unable to reach political consensus on regulating auditors, European officials agreed Thursday at a conference here to give the professional oversight bodies more power. Auditors and politicians both agree additional oversight is required to regain trust lost in the wake of accounting scandals such as those surrounding Enron Corp., the Houston-based energy company, and Parmalat Finanziara SpA, the Italian dairy ...

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KAPCO IPO Subscription from Feb 7

KARACHI: Pakistan will hold an initial public offering of up to 20 per cent of shares in regional power firm Kot Addu Power Co (KAPCO) next month at a price of Rs30 per share, the Privatisation Commission (PC) said on Monday. The government will offer 88.025 million shares, or 10 per cent of the total, with a green shoe option ...

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Soyabean oil imported by TCP gets CED exemption

ISLAMABAD (January 18 2005): The Central Board of Revenue (CBR) has withdrawn central excise duty (CED) on the import of 33791 metric tons of crude degummed soyabean oil imported by Trading Corporation of Pakistan (TCP). This is subject to the condition that the imported oil will only be sold or auctioned to the sales tax registered persons with prior approval ...

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Sanitary ware, tile retailers get sales tax relief

ISLAMABAD (January 18 2005): The Central Board of Revenue (CBR) has announced that the retailers of sanitary wares and tiles will pay sales tax on the basis of 4 percent 'value addition' instead of 10 percent. The decision will be instrumental in attracting more investment. The CBR has amended Sales Tax Special Procedure Rules 2004 through SRO 59(I)/2005 issued on ...

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