Banks allowed third party guarantee for house financing
Business
February 16, 2021
KARACHI: The central bank on Monday allowed banks to accept personal guarantee of third party for low-cost house financing to cover mortgage risks.
The State Bank of Pakistan (SBP) said currently applicants face difficulties in obtaining housing finance, especially for low cost housing, “as banks are reluctant to take the risk of the house not being completed or documentation completion”.
“The completion of housing unit and mortgage creation takes time. In order to address this issue for applicants and banks, the SBP has allowed acceptance of a third party guarantee for this period up to a maximum of one year,” the SBP said in a statement/
To facilitate the banks in extending low-cost housing finance, the State Bank of Pakistan (SBP) eased off a major condition. SBP has allowed the banks to
Govt may abolish corporate income tax exemptionsBy Mehtab Haider
National
February 8, 2021
ISLAMABAD: In order to revive the stalled IMF program, the government is considering meeting another condition of the Fund to abolish corporate income tax exemptions with estimated cost of around Rs 150 to 200 billion through a Presidential Ordinance.
“To give confidence to the IMF’s Executive Board, that the government is considering doing away with corporate sector income tax exemptions through a Presidential Ordinance” for revival of the IMF program ahead of the coming budget 2021-22,” a top official of government confirmed to The News here on Saturday night. This Ordinance will be made part of the next Finance bill 2021-22 on eve of the coming budget.
ISLAMABAD: In order to revive the stalled IMF program, the government is considering meeting another condition of the Fund to abolish corporate income tax exemptions with estimated cost of around Rs.