Federal Board of Revenue has done remarkably well in the 1st quarter of the fiscal year 2020-21. According to the provisional data released by State Bank of Pakistan (SBP), FBR collected a net revenue of Rs. 1,004 billion exceeding the prescribed target of Rs. 970 billion. Moreover, the gross revenue stood at Rs. 1052 billion. … Read More “FBR collects more than 1 Trillion in Q1” »
Pakistan has a quintessential task on its hand to come out of the Financial Action Task Force (FATF) grey list and evade any possible black listing by the global watchdog. Pakistan is in the FATF’s grey list since June 2018 and a plan of action was given to complete by October 2019, which was extended till June … Read More “15 laws amended to comply with FATF Recommendations” »
Roshan Digital Account is an initiative by the State Bank of Pakistan to facilitate Non-Resident Pakistanis (NRPs) in opening a digital bank account with designated commercial banks in Pakistan. This account can easily be opened through an online portal / mobile application by providing minimum documents in just 48 hours. Most importantly, there is no … Read More “How to Invest in Stock Market through Roshan Digital Account” »
What makes RDA more special is the fact that this Account is Available in Both Foreign Currency and Pakistani Rupees. The customer can choose either a foreign currency or rupee-denominated account, or both. For NRPs, these accounts would be interoperable and enable real-time online conversion from foreign currency to Pakistani Rupees and vice versa.
According to State Bank of Pakistan, Pakistan’s Foreign Direct Investment (FDI) jumps 23.5 per cent in August 2020. Pakistan attracted $112.3 million FDI in August 2020, compared to $90.3m in same month of 2019. Moreover, in the first two months of FY21, the FDI rushed 40pc to $226.7m, compared to $162m in the same period … Read More “Pakistan’s FDI jumps 24% in August” »
As a part of transparency in tax governance and to have a fair tax system, the Federal Board of Revenue (FBR) of Pakistan started to publish its Tax Directory of Parliamentarians in year 2013. The directory contains tax details of Members of Pakistan’s legislative assembles including Senate, National and Provincial Assemblies. Continuing this exercise, FBR … Read More “Khaqan Abbasi – The most tax paying parliamentarian in 2018” »
Overseas Pakistani have remained an integral part of the Pakistan’s economy and the country’s foreign exchange reserves have been immensely supported by the remittance they sent back home. In an another attempt to attract investment from Overseas Pakistanis, the Government of Pakistan has announced a new investment scheme called “Naya Pakistan Certificates (NPCs)”. The new … Read More “Government of Pakistan announces Naya Pakistan Certificates” »
Shahid Khan makes it to Forbes richest American list. Now a US national, was born into a middle class family of Lahore in 1950. He has now emerged as the 66th richest man in the United States in 2020, with a total worth of $7.8 billion. The richest man on earth is Amazon founder and … Read More “Pakistani born, Shahid Khan makes it to Forbes Richest US list” »
The second phase of Prime Minister Kamyab Youth Entrepreneurship Program Loan has been announced and will be launched on 12th August 2020.
