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Pakistan Business and Finance

No new tax on existing tax-payers: FBR chief

FBR Tax Update ISLAMABAD: The government unveiled on Wednesday outline of next year’s federal budget, envisaging tax target of Rs3.1 trillion, development programme of Rs: 580 billion and fiscal deficit of about Rs1.433tr. Briefing a panel of parliamentarians, the government’s…

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BankIslami takes over KASB Bank

KARACHI: The federal government has approved the merger of KASB Bank Ltd with BankIslami Pakistan Ltd (BIPL), the State Bank said on Thursday. The amalgamation also lifted a six-month moratorium imposed on the beleaguered bank in November 2014 as “the…

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