GrowUp Pakistan’s Post

The Federal Board of Revenue (FBR) has suspended the purchase of over 1,000 new vehicles for its officers following orders from the Senate Standing Committee on Finance. FBR Chairman Rashid Langrial confirmed that the vehicle purchase will remain on hold until the finance committee is satisfied. The committee has called on the Public Procurement Regulatory Authority (PPRA) to clarify the procurement rules. Initially, the FBR had planned to purchase 1,200cc vehicles despite facing a revenue shortfall. This decision, made on January 13, 2025, had sparked criticism. The purchase was estimated at Rs. 3 billion, with delivery planned from January to May. However, all vehicle deliveries have now been postponed indefinitely. #FBR #VehiclePurchase #FinanceCommittee #PublicProcurement #FBRUpdate

The Federal Board of Revenue (FBR) has halted the acquisition of more than 1,000 new vehicles for its officers following directives from the Senate Standing Committee on Finance. FBR Chairman Rashid Langrial stated that the procurement process will remain suspended until the finance committee is fully satisfied with the arrangements. The committee has also requested the Public Procurement Regulatory Authority (PPRA) to provide a clear explanation of the procurement regulations to ensure compliance. Originally, the FBR had intended to proceed with the purchase of 1,200cc vehicles, despite facing significant revenue shortfalls. This decision, which was made on January 13, 2025, drew widespread criticism from various quarters. The estimated cost of the vehicle purchase was around Rs. 3 billion, with deliveries scheduled to take place between January and May 2025. However, in light of the committee's intervention, all vehicle deliveries have been postponed indefinitely. #FBR #ProcurementHold #FinanceCommittee #PPRA #RevenueShortfall #GovernmentSpending #FBRUpdate

FBR Chairman Rashid Langrial defended the controversial purchase of over 1,000 vehicles worth Rs. 6 billion for young field officers, calling them essential for their daily operations. He emphasized that these cars are necessary for critical tasks like sales tax inspections. Langrial added that the FBR had already provided a satisfactory explanation for the procurement to the Senate Standing Committee on Finance. Despite concerns, he expressed confidence that the FBR would still meet its tax collection targets. However, the procurement has faced criticism from the Senate Finance Committee, with members questioning the lack of competition and transparency in the process. Critics have raised concerns about the procurement being a potential scam. #FBR #Vehicles

FBR Chairman Rashid Langrial defended the controversial purchase of over 1,000 vehicles worth Rs. 6 billion for young field officers, calling them essential for their daily operations. He emphasized that these cars are necessary for critical tasks like sales tax inspections. Langrial added that the FBR had already provided a satisfactory explanation for the procurement to the Senate Standing Committee on Finance. Despite concerns, he expressed confidence that the FBR would still meet its tax collection targets. However, the procurement has faced criticism from the Senate Finance Committee, with members questioning the lack of competition and transparency in the process. Critics have raised concerns about the procurement being a potential scam. #FBR #ProcurementControversy #TransparencyIssues

The Federal Board of Revenue (FBR) is making a strategic move to enhance its operations with an investment of over Rs6 billion in new vehicles. This purchase will take place in two phases, with the first 500 vehicles delivered by May. The new fleet is designed to streamline the FBR’s operations and improve overall performance in tax collection across Pakistan. With deliveries starting soon, this initiative aims to modernize the infrastructure and boost efficiency within the organization. Federal Board of Revenue (FBR) #FBR #TaxReform #GovernmentInvestment #PublicSector #VehiclePurchase #EfficiencyBoost #OnPointCentral

The FCA has announced its proposal to extend the pause for final responses to motor finance complaints involving discretionary commission arrangements (DCAs) until 4th of December 2025. It's important that CMCs responds to the consultation as key industry stakeholders directly affected by these proposals. Feedback on the consultation is sought by 28th of August. #claimsmanagementassociation #claimsmanagement #cma #motorfinance #motorfinanceclaims #dca #dcaclaims #fca #fos #motorfinancecomplaints #dcacomplaints

Tune in to Regulation Central by Chrisman Commentary at 3:00 p.m. ET today to hear our CEO, Matthew VanFossen, CMB, discuss recent reductions in MLO and real estate agent license renewals, FHFA's new UDAP compliance rules, and more with other leaders in the industry. 🎥 Register at https://bit.ly/40GGE8D! #loanofficer #regulationcentral #regulation #realestate

💡On 6th September 2024, the FCA published its Quarterly Consultation Paper No. 45 (CP24/18) on proposed miscellaneous amendments to the FCA Handbook. These are relatively minor changes, however, the Regulator is still looking for firms’ feedback before implementing these proposals. In Chapter 3, the FCA is proposing to amend the rule against circular investment (COLL 5.6.10R(3)) so that it does not apply when the second scheme of a non-UCITS retail scheme (NURS) is a long-term asset fund (LTAF). This is an attempt to remove the barrier that currently prevents NURSs from investing in LTAFs and facilitate greater access to and investment in long-term illiquid assets. Since the LTAF regime was introduced in 2021, the number of LTAFs launched has been very limited. This prompted the FCA to consider changing the rules to promote a wider investment in LTAFs by making a number of clarifications and amendments to the rules that are posing hurdles to NURSs from adding LTAFs to their portfolios. Click here to read more 👉 https://lnkd.in/egykRQie #LATF #FCA #Complyport #FinancialServices #RegulatoryCompliance #Compliance #Regulations

Tune in to Regulation Central by Chrisman Commentary at 3:00 p.m. ET today to hear our CEO, Matthew VanFossen, CMB, discuss recent reductions in MLO and real estate agent license renewals, FHFA's new UDAP compliance rules, and more with other leaders in the industry. 🎥 Register at https://bit.ly/40GGE8D! #loanofficer #regulationcentral #regulation #realestate

Time for a sneak peek into the latest offering of Digital Container Shipping Association (DCSA), Commercial Schedules 1.0 https://lnkd.in/eJAfwe_V This standard aims to unify data formats, and processes across carriers and BCOs, LSPs and Solutions providers. With this standard, DCSA aims to 🔹 Standardize Point to Point schedule, Vessel Schedules and Port Schedules 🔹 Enhance data consistency for End consumer 🔹 Boost operational efficiency in the E2E supply chain Emilio Solanes Kristina Jumelet