[ad_1] A person holding dollar notes. — AFP/File Pakistan has been facing dollar liquidity crunch, sources say. Pakistan obtains $682.3m in first quarter of current fiscal year. It obtained $1.04bn in first quarter of last fiscal year.Pakistan’s dollar inflows, in the shape of loans and grants, took a fall by 30% to $2.23 billion in the first quarter (July-September) of the current fiscal year despite getting a $1.16 billion tranche from the International Monetary Fund (IMF).In the first quarter of the last financial year, Pakistan received $3.2 billion as loans and grants. “It demonstrates that Pakistan has been facing dollar liquidity crunch as its ability to generate dollars eroded…
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[ad_1] A representational image of an investor speaking on the phone while looking at the digital stock board. — AFP/FileThe market got off to a grim start in the outgoing week.Volumes thinned to 228.4 million shares.Arrival of ADB’s $1.5b to help boost sentiment down the line.KARACHI: Pakistan Stock Exchange (PSX) is largely seen on firm footing next week drawing strength from the Financial Action Task Force (FATF) victory amid hopes that Asian Development Bank (ADB) will release $1.5 billion shortly; however, political risks remain a threat.The benchmark KSE-100 index, the main gauge of the country’s capital market, gained 265 points…
[ad_1] A representational image of gold jewellery. — Reuters/FileGold price settles at Rs146,400 per tola in Pakistan.Cumulatively, gold has lost Rs4,000 per tola in last three sessions.Demand for gold picked up pace as wedding season kicks off.KARACHI: Gold extended losses into a third session on Saturday, closing slightly above the threshold of Rs146,000 per tola, contrary to the price movement in the international market and expectations that economic recovery could sap inflationary pressure, curbing the metal’s appeal as a hedge.Data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of the precious metal declined…
[ad_1] A representational image of the Federal Board of Revenue House in Islamabad. — APP/FileThe Federal Board of Revenue (FBR) has started collecting income tax returns from salaried business individuals and associations of persons (AOPs).The last date to submit your tax returns is October 31, 2022.Federal Minister for Finance and Revenue Ishaq Dar had extended the tax filing date on September 30 keeping in view the demand of the business community.The FBR, in a statement released earlier, had stated that in view of the current flood situation in the country and requests from various trade bodies, Tax Bar Associations and…
[ad_1] FATF President Raja Kumar addresses a press conference on Friday. — ScreenngrabAnalyst hail Pakistan’s removal from FATF grey list.Removal likely to strengthen Pakistan’s position, says Arif Habib Limited.Development should help Pakistan raise external funding without any stringent conditions.KARACHI: Pakistan’s removal from the Financial Action Task Force (FATF) list of countries under “increased monitoring” would help boost the nation’s reputation and get a credit rating upgrade from global agencies, analysts said on Friday.Since the International Monetary Fund (IMF) included the implementation of FATF action plans as a structural benchmark, the removal would make it possible for Pakistan to successfully complete…
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[ad_1] The US State Department’s building in Washington. state.govThe US welcomes FATF decision to remove Pakistan from grey list. The US recognises Pakistan’s efforts, says the State Department. The FATF removed Pakistan from the grey list. The United States hailed the decision of the Financial Action Task Force (FATF) to remove Pakistan from the grey list. The US acknowledges the efforts and progress of Pakistan, the State Department said in a statement issued on Friday. The US State Department said that Pakistan has met the FATF targets by addressing its “strategic deficiencies.” Due to these efforts, Pakistan came off the FATF’s grey list, it said.…
[ad_1] Former Chairman FBR Shabbar Zaidi. — Twitter/FileKARACHI: Former chairperson of the Federal Bureau of Revenue (FBR) Shabbar Zaidi congratulated Habib Bank Limited’s Chairman Sultan Ali Allana and his team for their efforts to ensure Pakistan’s removal from the grey list of the Financial Action Task Force (FATF).Earlier today, the world’s money laundering and terror-financing watchdog announced that Pakistan is no longer subject to its increased monitoring process.Shabbar took to Twitter to congratulate Allana and wrote: “I congratulate Mr Sultan Allana of HBL and his team for excellent and tireless work with respect to FATF. On national issues we are…
[ad_1] The Financial Action Task Force (FATF), a global money laundering and terrorism financing watchdog, removed Pakistan from a list of countries under “increased monitoring” (grey list) today.In a meeting in June, the FATF said it was retaining Pakistan on the list — also known as the “grey list” — but said it might be removed after an on-site visit to verify progress.Last month, Pakistan’s foreign office said a FATF technical team had conducted a “successful” visit and Islamabad was expecting a “logical conclusion” of the evaluation process in October.Here are some key points:What would it mean for Pakistan?Pakistan was…
[ad_1] The Financial Action Task Force (FATF) — the world’s money laundering and terror-financing watchdog — said on Friday that Pakistan has been removed from the grey list and is no longer subject to its increased monitoring process.The Paris-based inter-governmental body had put Pakistan on its grey list of untrustworthy jurisdictions in June 2018 because of “strategic counter-terrorist financing-related deficiencies.” More to follow… [ad_2]