02062016Sat
Last update: Sat, 06 Feb 2016 06pm

Banking & Finance

Pakistan - Banking & Finance

Plan being devised to pay toll tax through mobile, credit card ISLAMABAD: An innovative plan is being devised for commuters on motorways and highways to pay their toll tax through mobile and credit card.National Highway Authority (NHA) is working on a project to facilitate commuters/passengers traveling on motorways and highways by introducing a uniform way of payment for toll tax collection which would help in reducing huge rush at toll plazas and save their time as well.Official sources on Monday said currently the Authority has installed E-tag facility on M-1, M-3 and M-4 while Frontier Works Organization (FWO) has installed M-tag on M-2 (Islamabad- Lahore).The E-tag electronic tolling is based on Radio Frequency Identification (RFI) and transponders are using the Dedicated Short- range Communications (DSRC) protocol. The system uses electronic transponders called E-tags mounted on inside of the vehicles' windscreen.The sources said National Database and Registration Authority (NADRA) is providing E-tag services to NHA on motorways (M-1, M-3 and M-4). E-tag ...

Pakistan - Banking & Finance

Workers of BoK employment schemes demands regularization, salary increase PESHAWAR: The workers of Bank of Khyber (BoK) Employment Schemes Friday staged a protest sit-in demanding regularization of services and salary increase.Addressing the protesters in front of Peshawar Press Club, their leader, Abrar Ahmad Bhatti said that about 180 employees holding master degrees are serving in various employment programmes under BoK but neither their salaries were increased not their services were regularized.He said that employees of the schemes including Bacha Khan Rozegar Scheme, Khud Kifalat ...

Pakistan - Banking & Finance

Draw of prize bond Rs7500 on Monday FAISALABAD: The draw of prize bond Rs7500 denomination will be held in Multan on Monday (February 1).According to a spokesman of the National Savings, first position holder will be awarded a prize of Rs15 million while 3 prizes of Rs5 million each have been reserved for second position holders.Similarly, third prize of Rs93000 will be awarded to each of 1696 position holders, he added. Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

Pakistan's Liquid Foreign Reserves reached over US $20.502 billion ISLAMABAD: The total liquid foreign reserves held by the country stood at US$20,502.1 million on January 22,2016.Giving the break-up of the foreign reserves position a statement of the State Bank of Pakistan (SBP) said that Foreign reserves held by the State Bank of Pakistan were US$ 15,646.8 million while Net foreign reserves held by banks stood at US$ 4,855.3 million on January 22,2016.The Bank's statement said that during the week ending January 22,2016, SBP's Liquid ...

Pakistan - Banking & Finance

SBP injects Rs100bn KARACHI: State Bank of Pakistan (SBP) on Thursday injected Rs100 billion into money market for one day through its open market operation (OMO).The rate of return accepted is 6.07 percent per annum, said SBP statement.Copyright APP (Associated Press of Pakistan), 2016 ...

Pakistan - Banking & Finance

MPC committee to meet on Jan 30: SBP ISLAMABAD: The first meeting of the Monetary Policy Committee (MPC) has been scheduled on January 30, State Bank of Pakistan (SBP) said on Tuesday.According to a statement, the SBP achieved an important landmark in terms of an independent monetary policy setting.In November 2015, the Parliament legislated amendments in the State Bank of Pakistan Act, 1956 establishing an independent Monetary Policy Committee (MPC) empowered to make monetary policy and its allied decisions.Earlier, there was an Advisory ...

Pakistan - Banking & Finance

Business community hails Tax Amnesty Bill approved by NA ISLAMABAD: The business community of Rawalpindi and Islamabad has hailed the tax amnesty bill approved by the National Assembly saying the bill would expend the tax base in the country."Small traders will be benefitted from the Income Tax (Amendment) Bill 2016 and encourage the non tax filers to come in tax net besides increasing the tax filers number from 700,000 to 1.7 million as per commitment by business community during the dialogue with government," President ...