Regulatory Updates Of Pakistan

2021-04-20 12:30:19 PSX Unadjusted Closing Summary

KSE100 - 45,361.77 +448.20pts (+1.00%)
Top Contributor to KSE 100 – Technology and Communication (+123.38 pts)
Market Volume – 340.89 mn
Volume Leader - WTL (+2.96%)
Highest Change – Technology and Communication (+3.77%)

Source: CapitalStake
--------------------------------------------------------
for News and Updates related to Regulatory, Business & Real estate, Join "Regulatory Updates of Pakistan" by using following steps;

Step 1
Download Telegram App
for Android
link: bit.ly/3bd4v2X
&
for iOS
link: apple.co/2FQUpum

Step 2
Join Channel by using this link:
t.me/RegulatoryUpdatesOfPakistan

So hurry up
Don't wait, to get Updates Open / Comment

2021-04-20 11:13:03 Commodities Update Open / Comment

2021-04-20 07:58:07 چنگان پاکستان کا مزید تین نئی کاریں متعارف کروانے پرغور

منی وین کاروان، منی پِک اَپس ایم8 اور ایم9 اور سیڈان السیون بنانے والی چنگان پاکستان مزید تین نئی کاریں ایس یو وی یونی ٹی، ایس یو وی اوشان ایکس 7 اور ڈبل کیبن پِک اَپ ہنٹر متعارف کروانے پر غور کر رہی ہے۔

چنگان کی 1500 سی سی ٹربو چارج اسمال کراس اوور یونی ٹی کِیا اسپورٹیج، ٹویوٹا سی ایچ آر اور نسان جوک کی کٹیگیری میں شامل ہوتی ہے۔

اوشان ایکس 7 بھی 1500 سی سی ٹربو چارج ہے لیکن اسکا موازنہ ایم جی موٹرز کی ایم جی ایچ ایس اور ہنڈائی ٹکسن سے کیا جاسکتا ہے۔

اسکے علاوہ 1900 سی سی ٹربو چارج ہنٹر کا موازنہ اِسوزو ڈی میکس اور ٹویوٹا ہائی لکس سے کر سکتے ہیں۔

کمپنی نے تصدیق کی ہے کہ وہ پاکستان کی سڑکوں پر تینوں گاڑیوں کی جانچ کر رہی ہے لیکن کمپنی نے یہ بتانے سے انکار کیا ہے کہ اصل میں کون سی گاڑیاں ملک میں متعارف کرائی جائیں گی۔

کمپنی ذرائع کے مطابق ”ہم ملک میں تینوں گاڑیوں متعارف کرائیں گے یا صرف ایک کار کو متعارف کروایا جائے گا۔ ابھی اس کا فیصلہ ہونا باقی ہے لیکن ہم اپنی فہرست میں مزید کاریں لانے کے لیے کام کر رہے ہیں”۔

بلاگنگ ویب سائٹ ”کار اسپرٹ پی کے ڈاٹ کام” چلانے والے ایک آٹو سیکٹر کے ماہر عثمان انصاری کا کہنا ہے کہ ہنٹر پِک اَپ، اِسوزو ڈی میکس اور ٹویوٹا ہائی لکس ریوو کے مدمقابل ہے۔

آٹو سیکٹر کے ماہر کا کہنا ہے کہ ٹویوٹا ہائی لکس میں انجن بڑا ہونے کے ساتھ ”ٹارک” بھی زیادہ ہے۔ لیکن ہنٹر کار میں ٹربو چارج انجن ہونے کی وجہ سے اسکا ”ٹارک” بھی ڈی میکس کے برابر ہے۔

ٹارک خصوصیت کی حامل کاریں ہموار جگہوں کے علاوہ دشوار گزار راستوں اور اونچائی پر چڑھنے کی صلاحیت زیادہ رکھتی ہیں جس میں پِک اَپ ٹرک اور ایس یو وی کے کاریں شامل ہیں۔

واضح رہے کہ چانگان پاکستان کو آٹو ڈویلپمنٹ پالیسی 2016-21 کے تحت گرین فیلڈ کا درجہ حاصل ہے۔

Source: SamaaTv
--------------------------------------------------------
for News and Updates related to Regulatory, Business & Real estate, Join "Regulatory Updates of Pakistan" by using following steps;

Step 1
Download Telegram App
for Android
link: bit.ly/3bd4v2X
&
for iOS
link: apple.co/2FQUpum

Step 2
Join Channel by using this link:
t.me/RegulatoryUpdatesOfPakistan

So hurry up
Don't wait, to get Updates Open / Comment

2021-04-20 07:57:18 نئے وزیر خزانہ شوکت ترین کون ؟

وزیراعظم عمران خان نے شوکت ترین کو وزیر خزانہ کا قلمدان سونپ دیا ہے۔ شوکت ترین سے قبل وزیراعظم عمران خان کی کابینہ میں اسد عمر، ڈاکٹر عبدالحفیظ شیخ اور حماد اظہر وزیر خزانہ کی حیثیت سے فرائض سر انجام دے چکے ہیں۔

وزیر خزانہ کی حیثیت سے شوکت ترین اس سے قبل بھی خدمات انجام دے چکے ہیں۔ وہ 2008 سے 2010 تک کے درمیانی عرصے میں سابق وزیراعظم سید یوسف رضا گیلانی کی کابینہ میں وزیر خزانہ تھے۔

شوکت ترین نے اس سے قبل سید یوسف رضا گیلانی کے مشیر کی حیثیت سے فرائض سر انجام دیے تھے جس کے بعد 2009 میں انہیں سندھ سے سینیٹر منتخب کرانے کے بعد وزیر خزانہ کا منصب سونپ دیا گیا تھا۔

پاکستان تحریک انصاف کے موجودہ وزیر خزانہ شوکت ترین اور سابق وزیر خزانہ ڈاکٹر عبدالحفیظ شیخ میں یہ قدر مشترک ہے کہ ان دونوں نے سید یوسف رضا گیلانی کی کابینہ میں وزیرخزانہ کی حیثیت سے فرائض سر انجام دیے ہیں۔

جنوبی پنجاب کے شہر ملتان میں 1953 کو پیدا ہونے والے شوکت ترین پیشے کے اعتبار سے بینکر ہیں۔

شوکت ترین نے پنجاب یونیورسٹی سے ایم بی اے کی ڈگری حاصل کی اوراس کے بعد 1975 میں سٹی بینک میں ملازمت اختیار کی جہاں انہوں نے 22 سال ملازمت کے تھائی لینڈ میں بطور کنٹری مینیجر ریٹائرمنٹ لی۔

اس لحاظ سے شوکت ترین اور سابق وزیراعظم شوکت عزیز میں مماثلت ہے کہ دونوں سٹی بینک میں ملازمت کرتے رہے ہیں۔

موجودہ وزیر خزانہ شوکت ترین نے سلک بینک کے حصص بڑھانے کا تنازع سامنے آنے کے بعد مفادات کے ٹکراؤ کی بنا پر 2010 میں وفاقی کابینہ سے استعفیٰ دے دیا تھا۔

شوکت ترین حبیب بینک اور یونین بینک کے سربراہ بھی رہ چکے ہیں۔ وہ سلک بینک کے بورڈ آف ڈائریکٹرز میں بھی شامل ہیں۔

حفیظ شیخ کو ہروانے کا مقصد میرے اوپر عدم اعتماد کی تلوار لٹکانا ہے، وزیراعظم

شوکت ترین نے 2002 سے 2008 تک کراچی اسٹاک ایکسچینج کے چیئرمین کے طور پر بھی فرائض سرانجام دیے ہیں۔

Source: TvNews
--------------------------------------------------------
for News and Updates related to Regulatory, Business & Real estate, Join "Regulatory Updates of Pakistan" by using following steps;

Step 1
Download Telegram App
for Android
link: bit.ly/3bd4v2X
&
for iOS
link: apple.co/2FQUpum

Step 2
Join Channel by using this link:
t.me/RegulatoryUpdatesOfPakistan

So hurry up
Don't wait, to get Updates Open / Comment

2021-04-20 07:54:10 SECP Chairman Addresses Virtual Roundtable On Revamping REIT Regulations

Chairman, Security Exchange Commission of Pakistan (SECP), Aamir Khan reiterated the resolve to reform Real Estate Investment Trusts' regulatory framework in the country.

The initiative was aimed aim to move towards disclosure-based issuance, providing requisite support for growth of Real Estate Investment Trust (REIT) schemes, reducing entry barriers and attracting PPP-based infrastructure projects into the realm of REITs.

He made these remarks while addressing a consultative roundtable, organized to discuss draft amendments to the REIT Regulations, 2015, said a news release.

A departmental presentation, delivered at the occasion, explained the major reforms proposed with regard to revamping of conventional REIT model, allowing REITs to invest either in Real Estate directly or through investments in Special Purpose Companies, introducing the concept of public private partnership-based infrastructure projects under the REIT umbrella, etc.

Additionally, the regulatory amendments include facilitating REIT companies with removal of a number of approval processes and rationalizing requirements for submission of various documents.

An engaging discussion followed the presentation that covered the entire spectrum of REITs and its regulatory and operational framework.

Farrukh Sabzwari, Commissioner, Specialized Companies Division elucidated that the draft amendments were being proposed on the back of an extensive stakeholder consultation exercise over the past eight months.

The draft amendments incorporate majority proposals by the stakeholders during the prior consultation exercise for both the conventional and infrastructure REIT models.

However, SECP is open to any further feedback/improvements, which is why it is pertinent for the stakeholders to submit their comments in this final consultation round, for timely consideration and early finalization of the regulations.

The draft amendments have been placed on the SECP website for inviting comments. It is expected that once promulgated, the amendments would usher a new era of unprecedented growth in the REIT sector and the PPP infrastructure space.

Source: UrduPoint
--------------------------------------------------------
for News and Updates related to Regulatory, Business & Real estate, Join "Regulatory Updates of Pakistan" by using following steps;

Step 1
Download Telegram App
for Android
link: bit.ly/3bd4v2X
&
for iOS
link: apple.co/2FQUpum

Step 2
Join Channel by using this link:
t.me/RegulatoryUpdatesOfPakistan

So hurry up
Don't wait, to get Updates Open / Comment

2021-04-20 07:49:41 ڈیجیٹل کرنسی منی لانڈرنگ سے نمٹنے میں مددگار ہوگی

عالمی رجحات کے پیش نظر پاکستان نے بھی ڈیجیٹل کرانسی متعاف کرانے کا فیصلہ کیا ہے۔

اس سلسلے میں اسٹڈیز شروع کر دی گئی ہیں۔ بٹ کوائن جیسی ڈیجیٹل کرنسی کے اجرا سے حکومت کا مقصد بینکاری سہولیات کو وسعت دینا اور منی لانڈرنگ اور دہشت گردی کی فنانسنگ جیسے خطرات سے جنگ کو سہل بنانا ہے۔ حال ہی میں گورنر اسٹیٹ بینک نے امریکی خبر رساں ادارے سی این این کو انٹرویو دیتے ہوئے کہا تھا کہ ہم (ڈیجیٹل کرنسی متعارف کرانے) کا بغور جائزہ لے رہے ہیں۔ اس سے ہمیں مالیاتی منظرنامے کو وسعت دینے اور منی لانڈرنگ اور ٹیرر فنانسنگ کے خلاف جنگ میں پیشرفت میں مدد ملے گی۔ آنے والے مہینوں میں ہم اس سلسلے میں اعلان کریں گے۔ ڈیجیٹل کرنسی راتوں رات فزیکل کرنسی نوٹوں کی جگہ نہیں لے گی بلکہ یہ دونوں کرنسیاں مالیاتی نظام میں برقرار رہ سکتی ہیں۔

تاہم وزارت خزانہ کرپشن کے خاتمے کے لیے ڈیجیٹل کرنسی کو اپنا سکتی ہے۔ ڈیجیٹل کرنسی کا سب سے بڑا فائدہ یہ ہے کہ ہر فنانشل ٹرانزیکشن دستاویزی ہوگی اور حکام یہ معلوم کر سکیں گے کون کس کو اور کس مقصد کے لیے رقم منتقل کر رہا ہے۔ ٹیکنالوجی کے ماہر اور ایس آئی گلوبل کے سی ای او نعمان سعید کہتے ہیں کہ ڈیجیٹل کرنسی متعارف کرانے کے لیے پاکستان میں 60 سے 70 فیصد انفرا اسٹرکچر پہلے ہی موجود ہے۔ تاہم ڈیجیٹل کرنسی کو سائبر چوری سے بچانے کے لیے سخت نگرانی ایک چیلنج رہے گی۔ ڈیجیٹل کرنسی سے مانیٹری اور فسکل پالیسیوں کے مابین کوآرڈی نیشن میں اضافہ ہوگا اور غیرملکی سرمایہ کاری بھی آئے گی۔

Source: ExpressUrdu
--------------------------------------------------------
for News and Updates related to Regulatory, Business & Real estate, Join "Regulatory Updates of Pakistan" by using following steps;

Step 1
Download Telegram App
for Android
link: bit.ly/3bd4v2X
&
for iOS
link: apple.co/2FQUpum

Step 2
Join Channel by using this link:
t.me/RegulatoryUpdatesOfPakistan

So hurry up
Don't wait, to get Updates Open / Comment

2021-04-20 07:20:17 400,000 taxpayers pay surcharge for ATL

Around 400,000 taxpayers have paid surcharge for appearance on Active Taxpayers List (ATL) for tax year 2020, according to updated active taxpayers list issued on Monday by the Federal Board of Revenue (FBR).

The FBR issues a fresh ATL on March 01 every year on the basis of returns filed for the preceding tax year. The FBR issued ATL for tax year 2020 on March 01, 2021. This ATL carried 2.17 million names of taxpayers who filed their income tax returns by due date or those who filed their returns on the date which was extended by Commissioner Inland Revenue (CIR).

The updated ATL – on the basis of surcharge paid by those person who filed their income tax returns after due date – is showing around 2.57 million names of active taxpayers.

The filing of income tax returns is mandatory for all the taxpayers who have taxable income or specified under Section 114 of Income Tax Ordinance, 2001.

As per statute the compliance of mandatory return filing was not enough to avail the reduced rate facility. According to Section 182A of Income Tax Ordinance, 2001 the persons who fail to file annual return of income by due date or extended by commissioner Inland Revenue then their names would not be included in the active taxpayers list for the year for which return was not filed.

However, the persons would be included in the taxpayers list on filing return after the due date, if they pay surcharge at: Rs20,000 in case of a company; Rs10,000 in case of an association of persons; and Rs1,000 in case of an individual.

Source: PakRevenue
--------------------------------------------------------
for News and Updates related to Regulatory, Business & Real estate, Join "Regulatory Updates of Pakistan" by using following steps;

Step 1
Download Telegram App
for Android
link: bit.ly/3bd4v2X
&
for iOS
link: apple.co/2FQUpum

Step 2
Join Channel by using this link:
t.me/RegulatoryUpdatesOfPakistan

So hurry up
Don't wait, to get Updates Open / Comment

2021-04-20 07:19:33 The executing agencies (EAs) / banks shall prepare and submit claims on quarterly basis to DFSD for receiving government markup subsidy on outstanding principal amount of their performing housing finance portfolio up to expiry of each individual loan. In case of a loan becoming non-performing, no markup subsidy will be paid after being classified as ‘Loss’ as per SBP PRs for Housing Finance. The EAs claims shall contain particulars of each individual loan along with calculations of subsidy based on relevant 1-year KIBOR used. For the sake of simplicity, EAs shall assign unique number to each loan i.e. “Bank Name—Loan Number” (ABC-12345678). The markup subsidy claim should be duly vetted by internal audit department of the EA. The audited claim along with a certificate from EA relating to eligibility of borrowers for the subject scheme and correctness of the subsidy amount shall be submitted to DFSD within 15 working days after the end of respective quarter for payment of subsidy. The claims shall be submitted to DFSD as per the format attached as Annexure B (Annexure B-1 for Banks/DFIs and Annexure B-2 for MFBS).

DFSD, SBP BSC shall scrutinize subsidy claim of EAs within 15 working days after receipt of complete information from EAs. DFSD shall ascertain that calculations of EAs subsidy claim are correct and applicable KIBOR has been used by the EAs. Thereafter, DFSD shall submit scrutinized claims to Accounts Department, SBP BSC for release of funds, through Karachi Office, to respective EA account maintained with SBP BSC, Karachi from Government account ‘Non-Food Account 1’.

Banking Inspection Department of State Bank during regular inspection of the EAs shall conduct inspection of their housing finance portfolio on sampling basis using its own sampling techniques. SBP inspectors shall randomly select credit files and review them from the perspective of eligibility of borrowers under the Program, status of loan (regular or NPL) and GOP subsidy claim. The BID inspection report section on ‘Markup Subsidy on Housing Finance’ shall be used as an important input for reviewing the Scheme and assessing its effectiveness in fulfilling the Government objective of promoting home ownership in the country.

Source: PakRevenue
--------------------------------------------------------
for News and Updates related to Regulatory, Business & Real estate, Join "Regulatory Updates of Pakistan" by using following steps;

Step 1
Download Telegram App
for Android
link: bit.ly/3bd4v2X
&
for iOS
link: apple.co/2FQUpum

Step 2
Join Channel by using this link:
t.me/RegulatoryUpdatesOfPakistan

So hurry up
Don't wait, to get Updates Open / Comment

2021-04-20 07:19:33 SBP issues payment mechanism for housing finance markup subsidy

State Bank of Pakistan (SBP) on Monday issued mechanism for payment of markup subsidy for housing finance and issued instructions to banks and development financial institutions (DFIs) for the facility.

The SBP advised banks to submit their claims to Development Finance Support Department (DFSD), SBP BSC, Karachi as per instructions contained in the attached payment mechanism within 15 working days from the end of each Quarter.

However, the banks shall submit their claim within 15 working days for the quarter ending December 2020 and March 2021 from the date of issuance of this circular.

According to markup subsidy payment mechanism (MSPM), the SBP said that the government had issued markup subsidy scheme to provide concessional housing finance for promoting home ownership.

The SBP issued necessary instructions to all commercial banks, microfinance banks and HBFCL through a circular no. 03 dated March 25, 2021 and revised instructions issued from time to time.

All loans disbursed under the scheme shall be reported to SBP under housing finance.

Under the Scheme, loans are segregated into four tiers:

i. Tier 0 (T0) – (a) House up to125 sq yds (5 Marla) and (b) flat/apartment with maximum covered area of 1,250 sq ft.

ii. Tier 1 (T1) – (a) House up to125 sq yds(5 Marla) with maximum covered area of 850 sq ft and (b) Flat/apartment with maximum covered area of 850 sq ft.

iii. Tier 2 (T2) – (a) House up to125 sq yds (5 Marla) and (b) flat/apartment with maximum covered area of 1,250 sq ft.

iv. Tier 3 (T3) – (a) House up to250 sq yds (10 Marla) and (b) flat/apartment with maximum covered area of 2,000 sq ft.

Pricing for Housing Loans

Loan Tiers Customer Pricing Bank Pricing
Tier 0 5% for first 5 years & 7% for next 5 years 1 Year KIBOR + 700 BPS
Tier 1 3% for first 5 years & 5% for next 5 years 1 Year KIBOR + 250 BPS
Tier 2 5% for first 5 years & 7% for next 5 years 1 Year KIBOR + 400 BPS (Spread may vary)
Tier 3 7% for first 5 years & 9% for next 5 years 1 Year KIBOR + 400 BPS (Spread may vary)
For loan tenors exceeding 10 years, market rate i.e. bank pricing will be applicable for the period exceeding 10 years.
Procedure for loans disbursements and availing markup subsidy:

EAs shall evaluate financing applications of customers as per parameters of Markup Subsidy Scheme for Housing Finance approved by the Federal Cabinet and circulated by the State Bank of Pakistan to all banks/DFIs vide IH&SMEFD Circular No. 03 dated March 25, 2021 and revised from time to time. The financing facility for a borrower shall be sanctioned and disbursed by the EA after completion of documentation formalities. These financing shall be entitled for markup subsidy as prescribed above. No further evaluation on eligibility of borrowers would be conducted by the State Bank of Pakistan.

Calculation of Equally Monthly Installment (EMI) for Borrower

For first five years EMI, amortization schedule would be prepared for full tenor of financing at markup rate i.e. 3 percent, 5 percent or 7 percent depending upon the financing tier.

EMI for next five years i.e. 6th year to 10th year would be on the basis of amortization schedule prepared at the applicable subsidized markup rate (i.e. 5 percent, 7 percent or 9 percent depending upon the financing tier) on outstanding principal for remaining financing tenor.

After 10th year of financing, EMI would be calculated on the basis of amortization schedule at applicable markup rate.

Calculation of Markup Subsidy for Banks

After calculating the EMI for end user, the EAs will calculate the difference to be paid by Government of Pakistan by applying the difference between 1-Year KIBOR + spread and end user markup rate on the outstanding principal.

The banks will calculate the subsidy for the period of markup subsidy i.e. 10 years.

Mechanism for Payment of Markup Subsidies: Payment of subsidy to EAs will be made through SBP’s operational arm viz. Development Finance Support Department (DFSD), SBP BSC, Head Office, Karachi. Open / Comment

2021-04-20 07:16:50 Payment of benevolent grant to be made through valid bank account
فلاحی گرانٹ کی ادائیگی درست بینک اکاؤنٹ کے ذریعے

The payment of benevolent grant and group insurance fund would be made through only valid account opened at concerned branch of National Bank of Pakistan (NBP), a statement said on Monday.

All those beneficiaries who are taking benevolent grant from the Federal Employees Benevolent and Group Insurance Fund (FEB & GIF) are hereby informed that in order to ease out the difficulties being faced by the beneficiaries, while drawing benevolent grant from National Bank of Pakistan, the BoT, FEB & GIF has decided that w.e.f. 1″ July, 2021 the amount of the monthly Benevolent Grant will be paid to the beneficiaries through valid account nos. to be opened with the concerned branches of the National Bank of Pakistan instead of cash payment.

All the beneficiaries of monthly benevolent grant are hereby requested to open a Bank Account with the concerned Branch of the National Bank of Pakistan on or before 31.5.2021, if they have not opened yet.

After opening the account the same may be communicated to FEB & GIF through bank as per following format: Benevolent GrantCase No. (copy of blue color payment order card including CNIC of the beneficiary may also be attached) CNIC of Employee Name of Beneficiary CNIC of Beneficiary Account No. of Beneficiary (10- digits Account No.) Name of Branch of NBP with Code (4- digits code) Amount of Monthly grant (Rs.) Date & amount of last payment made by NBP.

Source: PakRevenue
--------------------------------------------------------
for News and Updates related to Regulatory, Business & Real estate, Join "Regulatory Updates of Pakistan" by using following steps;

Step 1
Download Telegram App
for Android
link: bit.ly/3bd4v2X
&
for iOS
link: apple.co/2FQUpum

Step 2
Join Channel by using this link:
t.me/RegulatoryUpdatesOfPakistan

So hurry up
Don't wait, to get Updates Open / Comment