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Tag Archives: Economic and Finance News

Rs4.09 Trillion Federal Budget for 2015-16 Unveiled

ISLAMABAD (June 06, 2015) – The federal budget for the year 2015-16, with a total outlay of Rs4.089 trillion, was approved by the federal cabinet on Friday. In his budget speech in parliament, finance minister Ishaq Dar told the house that Rs700 billion have been allotted for the Public Sector Development Programme (PSDP), a 33 percent increase from last year. ...

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Economic Survey 2014-15: Features and Highlights

Economic Survey of Pakistan 2014-15

ISLAMABAD (June 05, 2015) – The finance ministry of Government of Pakistan yesterday published the annual Economic Survey of Pakistan for the year 2014-15. Highlights of this publication are being presented here. Click on the links below to go directly to that section: Growth and Investment Agriculture Manufacturing and Mining Fiscal Development Money and Credit Capital Markets Inflation Trade and ...

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FBR Establishes a Transfer Pricing Unit

FBR establishes transfer pricing unit

ISLAMABAD (December 24, 2014) – The Federal Board of Revenue (FBR) has established a transfer pricing unit to facilitate and strengthen the ability of the tax officials to effectively deal with the transfer pricing related issues. As per the notification issued by FBR on Monday, 22nd December; a transfer pricing unit has been set up at FBR the purpose of ...

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Salient Features and Highlights of the Economic Survey of Pakistan 2012-13

ISLAMABAD (June 12, 2012) – Finance ministry of the Government of Pakistan yesterday published the Annual Economic Survey of Pakistan for the year 2012-13, salient features and highlights of which have been compiled and presented here. Click on the links below to go directly to that section: Growth and investment Manufacturing and mining Money and credit Inflation Public debt Health ...

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SECP Issues Clarification on Broker-to-Broker Trading of Same Exchange

KARACHI (March 08, 2012) – The Securities and Exchange Commission of Pakistan (SECP) has issued some clarifications regarding the transactions between the brokers of the same stock exchange and asked stock exchanges to review their respective regulations for proprietary trading to remove any anomalies/inconsistencies therein to bring them in line with the spirit of the subject directive. SECP in its ...

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NBP and Standard Chartered Bank Announce 2011 Financial Results

ISLAMABAD (March 08, 2012) – National Bank of Pakistan (NBP) and Standard Chartered Bank (SCB) have today announced financial results for the year ended December 31, 2011 according to which these banks have posted profits of Rs 17.60 billion and Rs 5.44 billion respectively. National Bank of Pakistan (NBP) had posted a profit Rs 17.56 billion last year. A statement ...

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FBR Partially Implements Taxpayer Ledger System

ISLAMABAD (March 07, 2012) – The Federal Board of Revenue (FBR) has partially implemented taxpayer ledger system as all the tax-related transactions other than tax returns and tax payments are currently not being captured through the ledger system. Sources told reporters here on Tuesday that the taxpayer ledger system is an IT-based system of the FBR which has to capture ...

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HSBC Sells its Insurance Business in Asia and South America

HONG KONG (March 07, 2012) – Banking giant HSBC has announced that it has agreed to sell its general-insurance businesses in Hong Kong, Singapore, Argentina and Mexico for around $914 million. The move is part of the bank's strategy to cut costs and focus on growth, HSBC Group Chief Executive Stuart Gulliver said in a statement to the Hong Kong ...

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Bank Alfalah Records Rs.3.5 billion in Net Profits for CY11

KARACHI (March 05, 2012) – Bank Alfalah Limited (BAFL) recorded Rs.3.5 billion in net profits in CY11, nearly 3.6 times higher than the previous year. BAFLs mark-up revenues jumped by 18 percent to Rs.44 billion in CY11 relative to the previous year although the detailed accounts are not available at the moment. It seems that the Bank has benefited from ...

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UBL Records Substantial Growth from Last Year

KARACHI (February 23, 2012) – In line with market expectations, United Bank Ltd (UBL), the country's third largest commercial bank, managed to record outstanding growth in its bottom line in CY11 compared to the last year. The Banks mark-up revenues managed to exhibit an impressive growth, likely due to a massive expansion in its investment portfolio. In line with the ...

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