Input Tax Adjustment Disallowed On 778 Goods

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The process of product development, Shariah compliance review and Shariah audit ensures that Saadiq SCB products are Shariah compliant, free of Riba and within the guidelines prescribed by the Shariah . Click here to review Shariah compliance certificate for Saadiq Business Mortgage finance. Each year the Journal of contemporary business and Islamic finance is committed to publishing papers that advance our knowledge of business and ethics through both theoretical and empirical work. The aims and scope of JCBIF are the analyses,investigation and dissemination of ethical issues in business and finance world in both developed and developing parts of the world. We aim to understand the context of finance,technology and contemporary business along with local challenges, cultures and traditions. Journal of contemporary businesses and Islamic finance emphasised on quality research papers, working papers and case studies.

The meeting also discussed Fertilizer situation in the country and was informed that there is no shortage of Fertilizers in the country. The Meeting directed Ministry of I&P to formulate strategy to rationalize the prices of Fertilizers in the light of decision to provide subsidized supply of gas to the fertilizer manufacturers and for providing adequate relief to the growers. The Secretary Ministry of NFS&R informed on the stock position of Wheat and further apprised on the future requirements and the strategy for sustainable availability of Wheat in the country. The Chair expressed concerns on the low daily release of Wheat by the Baluchistan Government and directed the provincial authorities to bring stability in the prices of Wheat flour by increasing daily release of Wheat to the Flour Mills. The items which contributed in decline included Electricity by 0.91%, Eggs by 0.08%, Red Chillies by 0.03% and others by 0.06%. While prices of 28 items slightly increased that led to increase in SPI by 1.3% which included Petrol by 0.65%, Chicken by 0.19%, Long cloth by 0.18% and others by 0.28%.

Federal Minister for Finance and Revenue Mr. Shaukat Tarin presided over the Steering Committee meeting of Kamyab Pakistan Program at Finance Division, today. Adviser to the Prime Minister on overseas Pakistanis and Human Resource Development, Mr. Ayub Afridi, Secretary Finance, Secretary Overseas Pakistanis & HRD, President Bank of Punjab, Chairman SECP, CEO Akhuwat Foundation and other senior officers attended the meeting. Mr. Knut Ostby, Resident Representative UNDP, briefed about UNDP’s commitment toward achieving Sustainable Development Goals . He maintained that for developing countries, it is easier to achieve SDGs with support of multilaterals and engagement with the private sector. He further said that ‘development for everybody’ is at the center of UNDP’s development agenda. On the same lines, UNDP is focusing on sustainable investment potential present in the private sector of Pakistan.

Karandaaz Organizes Hackadesign To Drive Financial Inclusion Through Design Experience

The meeting expressed satisfaction over the availability of sufficient stocks of wheat in the country. It was informed that prices of Tomatoes and Onion in the last week were at the lowest as compared to their prices three years earlier. NPMC showed concerns on the increase in the prices whereas international market has witnessed dip in the prices of edible oil and directed Ministry of Industries and Production to formulate strategy and explore alternate options for import of edible oil to reduce the prices in the country. NPMC was also briefed on CPI Inflation, which showed slight increase of 0.25 % in non-perishable food items and decrease of 5.22% in perishable food items on MoM basis.

Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed increase of 0.04% as compared to increase in previous week by 0.51%. 33 food items contributed increase in the SPI by 0.32%, whereas 18 non-food items contributed decrease of 0.28% to the SPI. Economic Adviser Finance Division briefed the NPMC about weekly SPI which witnessed an increase of 1.10% as compared to decrease in previous week by 1.37%. 33 food items contributed increase in the SPI by 1.07%, whereas 18 non-food items contributed increase of 0.03% to the SPI. NPMC was updated on the prices of wheat flour which marked a continuous decline in the prices in the country for the last five weeks.

Mobilink Microfinance Bank Limited is Pakistan's largest digital bank with over 20 million registered and 8 million active digital wallets. Backed by VEON Co., MMBL started operations in April 2012 and launched branch-less banking operations under the brand name JAZZCASH in partnership with Pakistan's largest telecom operator JAZZ in Nov 2012. Despite being a young bank, Mobilink bank has emerged as one of the front runners in the sector and achieved financial break-even within four years of commencing operations in 2016, one of the fastest in the industry. MMBL game plan aims at taking banking from confines of limited number of brick and mortar structures to cell phones and thus make a significant contribution in banking the unbanked through digital channels. The Bank so far has financed over 500,000 individual micro and small businesses since inception of the Bank in 2012 and is the proud recipient of “Bank of the Unbanked Award” in 2018 and 2019. Economic Adviser Finance Division apprised the NPMC on weekly SPI which increased slightly by 0.08% in the week as compared to previous week when it decreased by 0.50%.

Federal Minister on Finance and Revenue Mr. Shaukat Tarin held a meeting with All Pakistan Bedsheets & Upholstery Manufacturers Associations led by its chairman Mr. Arif Ehsan Malik, at Finance Division, today. The NPMC also discussed the stock position of POL in the country and expressed serious concerns on the low stocks of HSD and directed the Petroleum Division to take cognizance of the issue and ensure smooth availability of POL in the country. The Chair directed Ministry of NFS&R to make strategy for increasing the exports of Potatoes and further directed for production forecasting unit for major and minor crops for timely decision making. Further, the chair directed the USC to seek guidance of Ministry of Law and Justice on continuation of subsidy on these items for initial 23 days of the February. The Financial Action Task Force reviewed Pakistan’s progress on both FATF Action Plans in its Plenary meeting held on 4th March 2022.

The GC approved regulations for smooth operations of Trade Information Portal which is being launched by PSW Company in this month to fulfill Pakistan’s commitment under WTO’s Agreement on Trade Facilitation. While giving approval on other key matters the GC also gave directions to relevant Ministry for ensuring immediate utilization of integration with PSW system. ECC also approved Technical Supplementary Grant of Rs. 3500 Million in favour of Higher Education Commission for the Project titled “Pak University of Engineering and Emerging Technologies . ECC also approved Technical Supplementary Grant amounting to Rs. 200 million to Pakistan Military Accounts Department for conversion of Pensioners to Direct Credit System. On the proposal of providing vegetables at Utility Store Corporation outlets, MD USC informed that such facilities have been started at USC outlets in the Capital territory while for provinces the consultation is in process with the relevant authorities.