Policy Research Update – Islamabad Chamber of Commerce & Industry

Courtesy: Islamabad Chamber of Commerce & Industry

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Taxation & Customs

Allowing facility of zero-rating on supply of gas

Federal Board of Revenue-FBR has issued amendment in STGO 16/2007 dated 13-09-2007 regarding allowing facility of zero-rating on supply of gas. For detail, please click here

Allowing facility of zero-rating on supply of electricity

Federal Board of Revenue-FBR has issued amendment in STGO 09/2007 dated 13-09-2007 regarding allowing facility of zero-rating on supply of electricity.For detail, please click here

Whistle blower report tax evasion to FBR

Federal Board of Revenue-FBR may sanction reward to whistleblowers or informers in cases of concealment or evasion of Income Tax, Sales Tax, or Federal Excise, provided that the information is credible and leads to detection of tax. For detail, please click here

 

Corporate Sector

Access to Inside Information Regulation, 2016

Securities Exchange Commission of Pakistan-SECP has issued SRO 457 of 2016 regarding access to Inside Information Regulation, 2016. For further detail, please click here

Amendment in VPS investment policy

Securities Exchange Commission of Pakistan-SECP has issued Circular No .19 of 2016 regarding amendment in VPS investment policy. For further detail, please click here

2nd draft of Companies Bill 2016

Securities Exchange Commission of Pakistan-SECP solicits public comments on 2nd draft of Companies Bill 2016. For further detail, please click here

Amendments Sixth Schedule To Companies Ordinance

Securities Exchange Commission of Pakistan-SECP has issued amendments Sixth Schedule to Companies Ordinance. For further detail, please click here

Draft Employees Provident Fund Investment in Listed Securities Rule 2016

Securities Exchange Commission of Pakistan-SECP has issued notification regarding Draft Employees Provident Fund Investment in Listed Securities Rule 2016. For further detail, please click here

Securities Exchange Licensing Operations Regulations 2016

Securities Exchange Commission of Pakistan-SECP has issued notification regarding Securities Exchange Licensing Operations Regulations 2016. For further detail, please click here

Banking & Finance

Currency Management Strategy

State Bank of Pakistan-SBP has issued FD Circular Letter No.2/2016 regarding Currency Management Strategy – Quarterly Progress Report Format for Banks. For further detail, please click here

Opening Of Branches / Offices for Facilitation of Duty / Tax Collection 

State Bank of Pakistan-SBP has issued BPRD Circular Letter No. 15 of 2016 regarding Opening of Branches / Offices for Facilitation of Duty / Tax Collection. For further detail, please click here

Monetary Policy Statement – May 2016

State Bank of Pakistan-SBP has issued Monetary Policy Statement – May 2016. For further detail, please click here

Monetary Policy Information Compendium May 2016

State Bank of Pakistan-SBP has issued Monetary Policy Information Compendium May 2016. For further detail, please click here

Foreign Exchange Manual-2016 

State Bank of Pakistan-SBP has issued Foreign Exchange Manual-2016. For further detail, please click here

Credit Rating of Banks/DFIs

State Bank of Pakistan-SBP has issued Credit Rating of Banks/DFIs- Updated as of 09 May, 2016. For further detail, please click here

 

Trade & Investment News

Letter of intent issued for second LNG terminal 

The government has issued a letter of intent to award contract for developing the second liquefied natural gas (LNG) handling terminal at Port Qasim in Karachi, said Petroleum and Natural Resources Minister Shahid Khaqan Abbasi. Talking to a group of journalists at an event organised by OMV exploration company to mark its 25 years in Pakistan, Abbasi said a consortium of Fauji Oil Terminal and Distribution Company (Fotco) – which also included Pakistan GasPort Limited – had emerged as the lowest bidder and the government had issued it the letter of intent for setting up the second LNG terminal in the country… Read more

End to load-shedding? Power production to cross 33,000MW in 2018 

Water and Power Secretary Younus Dagha has said that electricity outages will come to an end in 2018 as production capacity will rise above 33,000 megawatts, easily eclipsing estimated demand for 25,961MW that year. In the total production, hydroelectric power will have a 28% share, followed by furnace oil-based electricity at 17% and liquefied natural gas-based power at 15%. Local natural gas-powered electricity will contribute 12%, imported coal 10%, renewable energy sources and nuclear power 8% each and local coal 2%… Read more

FDI crossed $1bn in July-April 

Foreign direct investment (FDI) crossed $1 billion during the first 10 months (July-April) of this fiscal year, a rise of more than five per cent compared to $963 million a year earlier, the State Bank of Pakistan said. More than half of that investment — nearly $550m — came from China. Other significant investors were Hong Kong ($129m), Italy ($87m), Switzerland ($72m), the United Arab Emirates ($137m) and the United Kingdom ($58m) … Read more

Pakistan, Tajikistan study fibre optic cable link 

The Central Asia-South Asia 1,000-megawatt (Casa-1,000) power supply project is expected to pave the way for connecting the two regions digitally as they are deliberating on a proposal to lay a fibre optic cable along with the electricity transmission line. “Casa-1,000 power project has cleared the way for us to connect the regions through a cable network called Digital Casa-I, which will link Tajikistan, Afghanistan and Pakistan,” Tajikistan Deputy Energy Minister Jamshed Shoimzoda told media during a briefing… Read more