Day: May 29, 2023

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Almost 30 Million Users Now Registered with RAAST

The number of users registered with the RAAST Payment system surged to almost 30 million by the end of March 2023.

According to the State Bank of Pakistan (SBP), there were 29.2 million registered RAAST users by the end of March. The number stood at 25.8 million in the previous quarter till December 2022.

The number of transactions processed through RAAST increased by 92.2 percent to reach 41 million while value grew by 56 percent to stand at Rs. 902 billion during the quarter of January to March 2023 as compared to October to December 2022, according to Payment System Review published by the SBP.

The system processed bulk payments of Rs. 29 billion and Rs. 872 billion in person-to-person payments. Instant payments through the internet and mobile banking without service charges made this system popular among the masses.

Launched in February 2022, the system has shown positive growth in the number of users and transactions and processed over Rs. 1 trillion in 11 months of its inception.

Customers can set their registered mobile phone number as their Raast ID and link it to their preferred International Bank Account Number (IBAN) using the bank’s mobile application, internet banking, or visiting their bank branch.

Once a customer has set her/his mobile phone number as the Raast ID, others can send money to her/him using her/his mobile phone number without the need to know the account number or any other details. Bank customers can still use the Raast service for sending or receiving funds using their IBANs even if they do not have a Raast ID or prefer to use their IBAN.

Source: Pro Pakistani

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FTO Directs FBR to Ensure Bug-Free System Integrity for POS Lucky Draws

The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to ensure quality control and maintain bug-free system integrity during the point of sale (POS) lucky draws.

According to an order of the FTO issued on Monday, a complaint was filed against the FBR for sanction of the POS lucky draw amount, won in October 2022, through balloting No.10 of FBR’s POS lucky draw prize, as the payment was not received by the complainant.

The FBR responded that the complainant did not win any POS prize. The Chief Manager-lR (Ops), PRAL, Islamabad stated that the issue was due to a temporary system bug, which has been fixed, and the prize winner status can be checked from FBR’s website.

The FBR and PRAL stated that only iOS (iPhone) users received the message from PRAL, however, Android users did not receive any such messages, as the software for iOS and Android is separate and independent of each other.

Chief Technology Officer, PRAL, Islamabad submitted that the complainant has not won the prize in any POS balloting but due to some technical error, he wrongly saw the mirror image of the screen of the actual POS prize winner.

During the investigation, it transpired that the issue happened due to a system bug, which started reflecting the mirror image of the screen of one of the winners to any individual, who would enter the point of sale dashboard of the Tax Asaan App. The failure of the system impacted various users, which needed a fact-finding inquiry, which has been conducted by PRAL.

FTO stated that it is clear that the appearance of the system bug had adversely impacted multiple taxpayers including the complainant. This reflects neglect, inattention, incompetence, and inefficiency, in the administration or discharge of duties and responsibilities of FBR and PRAL and falls under the ambit of maladministration under Section 2(3)(ii) of the FTO Ordinance, 2000.

FTO has directed Member (IT) to examine the fact-finding inquiry report dated 12.05.2023 and reprimand all concerned PRAL officials and issue a final warning to them, to ensure that absolute quality control and bug-free system integrity is maintained in the future failing which necessary disciplinary proceedings would be initiated against them, as per provisions of law.

Source: Pro Pakistani

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CDA Continues Ruthless Anti-Encroachment Drive in Various Sectors of Islamabad

Anti-encroachment operations are being carried out across the city on the direction of Chairman CDA Noor-u- Amin Mengal.

Apart from enforcement Directorate, Islamabad Administration and Islamabad Police, other related departments are participating in the operations. DG Enforcement is supervising the anti-encroachment operations.

According to details, anti-encroachment operations were carried out in various areas on Friday and several constructions and encroachments were cleared of government lands from illegal occupants.

The operation was along IJP Road, G-8, F-8, G-5, I-9 F-6, G-9, G-10, I-8 as well as Rawal Town was also done in which 3 trucks of goods were seized by demolishing several encroachments.

According to details, the operation was started from IJP Road in Islamabad where service road, Chapphar Hotel, sand gravel bases and gutters were demolished.

A similar operation was carried out in front of Sector G-8 Center, which demolished several roofed hotels located on the Green Belt and demolished several fruit stalls. In Sector G-9 and G-10, people occupied government land by fencing outside their plot line.

The anti-encroachment staff took action and removed fences and walls outside the plot line of several houses and got the government land returned. The encroachments in the parking area of Sector F-8 Centre were causing difficulties for citizens to park their cars and in light of public complaints, the encroachments were cleared and seized 1 truck of goods.

While taking action in the outsides of Sector G-5 Nadra Chowk, 1 truck of goods was seized by removing encroachments. Similarly, action was taken against encroachments from market sidewalk and parking area in Sector I-8 and seized 1 truck of goods.

Lehtrar Road where traffic was often blocked due to encroachments. In the light of the CDA administration, the road was opened by removing the encroachments from the road and 1 truck of goods was seized.

The anti-encroachment staff took full action in the rural area Rawal Town of Islam where 16 rooms, 3 washrooms, 3 cattle fences, 3 boundary walls and 2 kitchens were recovered from government land.

Following the instructions of Chairman CDA Captain Noor-ul-Amin Mengal, a special anti-encroachment squad has been formed even during weekly holidays to continue the operation against encroachments in full swing.

Source: Pro Pakistani

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Ishaq Dar Explodes to Questions About IMF and Economic Disaster

Finance Minister Ishaq Dar Monday reacted angrily to questions about the deadlock with the International Monetary Fund (IMF) and the coalition government’s failure to manage the economy.

Despite the provocative stance of reporters pestering him for answers, the country’s top finance chief gave no particular answer to the query. “Give whatever judgment you want to give,” he stated.

While talking to journalists, the finance minister said the country had fulfilled all international obligations and was making debt payments on time.

As the journalist kept pressing the finance minister for more answers, Dar argued, “Has Pakistan defaulted?”, but didn’t have much to say in response to questions on the dwindling economic situation.

Appearing uncomfortable with the reporter’s line of questioning, he retorted, “Take it easy, take it easy, bus kr na yaar bus kr”.

He refused to answer questions regarding the upcoming budget for fiscal year 2023-24.

Pakistan’s Brain Drain Economic Crisis

Pakistan is experiencing a severe economic crisis, characterized by a budget deficit, crashing PKR, stagflation, and all-time high-interest rates. The increasing loss of forex reserves, along with the rupee devaluation, is driving up the prices of everyday items essential for living.

Pakistan’s reliance on external cash, notably from the IMF, has become critical due to the country’s troubles. Disagreements over funding issues have prompted delays in the release of various bailouts, compromising Pakistan’s economic standing further into junk.

Source: Pro Pakistani

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Dar Assures Builders Association of Providing Business-Friendly Budget

Finance Minister Ishaq Dar reiterated on Monday that the government will try to provide a business-friendly budget for the economic progress and development of the country.

A delegation of the Association of Builders and Developers of Pakistan (ABAD) called on the finance minister at the Federal Board of Revenue (FBR) to discuss budget 2023-24 proposals. SAPM on Revenue Tariq Mehmood Pasha, Chairman RRMC Ashfaq Yousif Tola, Chairman FBR, and senior officers from FBR attended the meeting.

The delegates from ABAD apprised the minister of the challenges currently faced by the construction industry and presented their proposals for the upcoming Federal Budget. The delegation also assured support to the government in its efforts for overcoming the economic challenges and to boost the economic and business activities in the country.

Dar appreciated the proposals presented by the delegation and assured them that the government is taking concrete steps to overcome the economic challenges and for strengthening the economy of the country.

The delegation included ABAD Chairman Altaf Tai, former chairman Arif Yousaf Gewa, Senior Vice Chairman Khawar Munir, Vice Chairman Nadeem Gewa, and Chairman South Region Raheel Rinch among others.

Source: Pro Pakistani