The Institute of Chartered Accountants of Pakistan (ICAP) and the Competition Commission of Pakistan (CCP) are creating a framework for compliance with competition legislation, which will be embraced by CA professionals operating in different economic sectors. At the competition law seminar held at ICAP in Lahore, the ICAP council members presented this suggestion to CCP.The seminar was a component of the advocacy campaign series that CCP and ICAP had agreed upon. The first seminar in this series was held at ICAP Karachi, and the stakeholders responded quite well to it as well. Professionals from the financial, marketing, and legal fraternities,…
Author: Iqra Khan
The Federal Board of Revenue’s (FBR) Income Tax General Orders (ITGOs) against non-filers have resulted in fines of between Rs. 100 and Rs. 200 million for the telecom industry. The Telecom Operators Association has submitted an urgent request to the Special Investment Facilitation Council (SIFC) to remove these fines. The group sent a letter to the authorities requesting that the “punitive measures” included in the Finance Bill 2024–25 be removed. Additionally, it asked for the examination and elimination of the advance tax of 75% on mobile services for non-filers who are not in compliance. According to the association, the planned…
The second-worst weekly decline in cryptocurrency values of 2024 occurred as a result of global investors losing interest in Bitcoin exchange-traded funds (ETFs).According to Bloomberg, the top 100 cryptocurrencies fell 5% over the previous week, marking the largest drop in the sector since April. On Monday, the price of bitcoin fell below $63,000 and reached its lowest point since May. This occurs when the US markets are extremely confused over whether the Federal Reserve would lower its major interest rate or not, causing the cryptocurrency market to continue losing money for the sixth day in a row since last week.…
Provincial Computer Emergency Response Teams (CERTs) have been established in Punjab, Khyber Pakhtunkhwa (KP), Sindh, and Balochistan, Pakistan’s four provinces. These teams are composed of particular departments. ProPakistani has been informed by sources that Sindh has identified its Science Department as its CERT, and Punjab has selected the Punjab Information Technology Board (PITB). The KP IT Board has been designated as Khyber Pakhtunkhwa’s CERT, joining the state’s operational KP Computer Emergency Response Center (CERC). Additionally, Balochistan has designated its Science Department to manage its CERT duties. Ministry of IT and Telecom officials have attested to the fact that the provinces…
The federal government is dedicated to advancing quantum technologies, artificial intelligence, and the semiconductor industry in Pakistan, Planning Minister Ahsan Iqbal said on monday. During the International Nathiagali Summer College on Physics and Contemporary Needs opening, he stated that the government is promoting the development of quantum technology by creating a National Centre for Quantum Computing this year, among other initiatives. He went on to say that the government is trying to develop potential in quantum technology and research by offering training courses and scholarships. He also praised the Pakistan Atomic Energy Commission for its work in the energy, healthcare,…
Former Prime Minister and Pakistan Muslim League-Nawaz President Nawaz Sharif opted to skip the National Assembly’s Budget 2024-25 session. He requested leave from the assembly secretariat, which was approved, marking the second time he has missed this session during Finance Minister Muhammad Aurangzeb’s presentation. Currently, both houses of Parliament are actively engaged in discussions on the Budget 2024-25. Following Nawaz Sharif’s return as PML-N president, there has been renewed internal effort within the party to restore him to the position of Prime Minister, a role he has held on three previous occasions. Key leaders within PML-N have reportedly launched a…
Ramiz Raja, the former Pakistan captain and ex-chairman of the PCB, has strongly criticized the reported plans to demote Babar Azam and Mohammad Rizwan from their Category A central contracts following Pakistan’s early exit from the T20 World Cup 2024. Raja emphasized that such actions, including altering players’ salaries as a punitive measure, are not conducive to improving team standards or performance. In his remarks on local TV, Raja described the potential demotion as a “knee-jerk reaction,” suggesting that financial incentives or penalties do not inherently raise the level of play among cricketers. He argued against the idea that reducing…
His Excellency Mr. Fahd Al-Jalajel, Minister of Health, announced the successful execution of health management efforts during the Hajj season of 2024. This achievement was made possible through the coordinated efforts of the health system and the Hajj security forces, with no recorded outbreaks of epidemics or widespread diseases. Notably, the health system provided more than 465,000 specialized treatment services, including 141,000 services to those who didn’t obtain official authorization to perform Hajj. In a media interview, His Excellency expressed reassurance about the overall health condition of the pilgrims, despite the high temperatures experienced in the Holy Sites. He highlighted…
This month marks the 19th year that S&P Global, a provider of credit ratings, benchmarks, analytics, and workflow solutions for the global capital, commodities, and automotive markets, has been operating in Islamabad. Ever since its founding in 2005, S&P Global Pakistan has led the way in supplying vital intelligence that helps people, companies, and governments seize new chances, overcome obstacles, and advance global development. S&P Global Pakistan has established a solid reputation for “Powering Global Markets” and making a positive effect on its people, clients, and communities during the previous 19 years. “S&P Global Pakistan’s continuous growth is a testament…
The federal government has adjusted the profit rates for Naya Pakistan Certificates (NPC) starting from July 2024, alongside allocating Rs600 million for the upcoming fiscal year. Minimum investments are set at $1,000 for foreign currencies and Rs 10,000 for Pakistani rupees. NPC can be purchased in multiple currencies including UK pounds, US dollars, euros, and Pakistani rupees through the State Bank of Pakistan (SBP). Revised rates offer 7%, 7.20%, and 7.5% for three-month, six-month, and one-year investments respectively in USD, up from previous rates of 5.50%, 6%, and 6.50%. For three-year and five-year investments, rates have risen to 8% from…
