Brand of Blades
Wednesday, March 31, 2010
posted @ 12:52 PM, ,
Economic and Business Updates From March 22 to 28, 2010
Tuesday, March 30, 2010
- THE OPEC Fund for International Development will extend a loan of over $31 million for the Neelam-Jhelum Hydropower Plant Project. An agreement to this effect has been signed.
- THE North West Frontier Province value-added tax bill is tabled in the provincial assembly.
- THE International Monetary Fund is likely to extend March 31, deadline set for the resolution of the issue of circular debt, sources say.
- THE Federal Board of Revenue will suffer a massive shortfall of around Rs10 billion due to low collection of four per cent of capital value tax levied on immovable property in 2009-10 budget.
- THE World Bank extends Tax Administration Reform Project up to December 31, 2010 in view of satisfactory performance of the Federal Board of Revenue in smooth implementation of reforms.
- THE Competition Commission of Pakistan stops all ongoing investigations against cartels and companies involved in anti-competition activities, deceptive marketing practices and abuse of dominance etc., as the Competition Ordinance has expired.
- AGRICULTURAL credit disbursement by commercial and specialised banks increases by 11.02 per cent to Rs144.703 billion in eight months (July-February) of the 2009-10 fiscal year. In absolute terms, the disbursement increased by Rs14.361 billion.
- THE State Bank of Pakistan announces 2.5 per cent markup rate facility on outstanding loans of textile industry under its Export Finance Scheme, and three per cent markup rate support against long-term loans availed from banks/DFIs.
- THE Cabinet Committee on Energy Crisis directs the finance ministry to arrange Rs43 billion for Pakistan Electric Power Company to make payments to Pakistan State Oil till April 2, 2010.
- THE Trading Corporation of Pakistan, accepting the second lowest bid of $396.10 per ton offered by a Dubaibased supplier, finalises deal for import of 200,000 tons of white refined sugar.
- THE Gulf Cooperation Council decides to relax trade safeguards measures in iron goods import from Pakistan applied in the import of angles, channels and beams iron products used in construction.
- THE Compensation Commission of Pakistan imposes a penalty of Rs25 million on Pakistan Steel Mills for abuse of its dominant position and anti-competitive practices, reflecting violations of relevant provisions of the Competitive Ordinance 2009.
- THE Federal Board of Revenue recovers a sum of Rs34,229,556 from four payphone companies allegedly involved in obtaining inadmissible refund of excise duty.
- THE country’s service trade deficit during eight months of the current fiscal year amounts to $1.69 billion.
posted @ 9:46 AM, ,
Tips and Tricks
Tuesday, March 23, 2010
posted @ 1:20 AM, ,
Some Principles to Reduce Complexity in Annual Returns
Thursday, March 18, 2010
There are eight principles for reducing complexity in the annual reports of the companies which are as per following;
Regulations Should Be:
- Targeted - to provide relevant information that meets important user needs.
- Proportionate - limiting constant change in regulation by intervening only when an area is high risk and change will bring obvious benefit.
- Coordinated - regulators should understand what other regulators are doing in a particular area
- Clear - regulations should be simple and user friendly
- Focused- important messages, transactions and policies should be highlighted
- Open and honest - reporting should give a balanced explanation of results
- Clear and understandable - reporting should use plain language
- Interesting and engaging - reporting should get the point across and hold the reader's attention.
Labels: Annual Returns
posted @ 4:48 PM, ,
Share Holding In Banking Company
Monday, March 15, 2010
- Managing Director or
- Chief Executive Officer (by whatever name called)
posted @ 11:08 AM, ,
posted @ 10:45 AM, ,
Thursday, March 11, 2010
- The banking sector's net foreign assets are positive (80% of total foreign assets compared with 13.8% for its CCC-rated peers), which should bolster its ability to repay and service foreign debt.
- The continued operating inefficiencies of the banking sector and the need to maintain a high level of liquidity under a dollarised economy will keep real market interest rates high, compounding pressures on debtors.
posted @ 1:29 PM, ,
posted @ 1:09 PM, ,
FBR is Going to Close Down PACCs
Wednesday, March 3, 2010
posted @ 4:33 PM, ,
posted @ 4:09 PM, ,
Economic and Business Updates - February 22 to 28, 2010
Monday, March 1, 2010
- TREASURY bill rates have been increased again within 15 days, reflecting mounting pressure of inflation on economy which may result in more tightening of the monetary management.
- THE Trading Corporation of Pakistan purchases 50,000 tons of refined sugar at $779.95 per ton C&F. The contract for the purchase was given to Agrocrop, says a TCP spokesman.
- TEXTILE exports in January record $929.596 million against $830.990 million in December 2009, showing an increase of 11.87 per cent. Export of cotton cloth increased by 10.26 per cent and of yarn by 13.86 per cent during the month under review.
- WHILE there are no hindrances to the Indian imports to the country, Pakistan is facing non-tariff and para-tariff barriers in its exports to India, the commerce ministry informs the foreign office.
- THE Finance Corporation says it has provided Pakistan banks with $202 million under its Global Trade Finance Programme during the first half of fiscal year 2010, that helped increase its crossborder trade.
- THE Securities and Exchange Commission of Pakistan directs fund managers to gear up their efforts to expand the outreach of pension funds.
- THE State Bank declares Sukuk certificates issued by Pakistan International Airlines Corporation as an approved security.
- THE Chinese will invest $50 billion in Punjab during the next 10 years. The investment is aimed at building a state-of-the-art industrial city along with an industrial estate on100,000 acres.
- The annual target of 95.5 per cent of gems and jewellry export has been achieved just in six months of the financial year 2009-10.
- AGRICULTURAL credit disbursement by commercial and specialised banks rose 6.33 per cent year-onyear to Rs124.168 billion in the first seven months (JULY-Jan) of the current fiscal year.
- EIGHT to nine new housing projects, most of them apartments, have been launched since November 2009 and builders claim to have received a satisfactory response from buyers.
- THE federal government releases Rs10 billion for the construction of delay action dams while another Rs10 billion in this regard will be released soon.
- THE Oil and Gas Development Company Limited discovers sizable reserves of hydrocarbon from its exploratory Shah well No.1 located in Hyderabad district.
- THE government decides to impose capital gains tax on purchase of securities, to be charged on two types of holdings, at the rate of 7.5 per cent and 10 per cent, with effect from July 1, 2010.
posted @ 1:58 PM, ,