October 8, 2021

Jet Protocol Lists on AscendEX

Singapore, Oct. 08, 2021 (GLOBE NEWSWIRE) — AscendEX is thrilled to announce the listing of the Jet Protocol token (JET) under the trading pair JET/USDT on Oct. 14 at 1 p.m. UTC. To celebrate the listing of JET, AscendEX will host two separate auctions that will take place simultaneously on October 13 between 1 p.m. and 2 p.m. UTC.

Jet Protocol will be launched as an open-source, non-custodial, borrowing and lending protocol on the Solana Blockchain. It engineers new possibilities for capital efficiency, performance, and scalability. Jet allows users to participate in lending pools where they deposit supported tokens to receive interest, or “yield” over time, as a participation incentive. Those deposits remain in a pool used for issuing loans to other users for as long as the assets remain delegated.

Jet believes that borrowing and lending protocols are integral to the DeFi ecosystem. The decision to build on Solana was based on its unmatched transaction speed and low fees. The Solana integration will allow Jet to contribute and grow on-chain DeFi lending. The project anticipates a gradual integration of broader interest and more efficient trading. In addition to lending, Jet will introduce interest rate products and secondary markets on Serum, facilitating ongoing, community-driven, lending product research and development. Through these methods, Jet makes it easy for users to earn interest with their JET tokens.

Jet is planning to launch with a dedicated governance system that leverages their founding team’s unique and extensive experience in protocol governance. This governance-oriented approach aims to work with the community to set a clear precedent toward how the Protocol will operate. Jet will innovate on tested governance models from existing protocols while focusing on community ownership and engagement. The most important aspect of this approach is to build an inclusive community to research, design, and implement useful lending products. So, the token holders will have a say in the future of the platform. This focus on community is core to Jet’s mission of bringing DeFi protocols into the mainstream.

Prior to a successful mainnet launch this week, Jet recently completed a follow-on funding round that included AscendEX among other partners bringing in a total of $6.8mm to the project. This latest fundraise has highlighted the strong support for Jet from a variety of stakeholders including AscendEX.

About AscendEX
AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 200 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions.

AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum. AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:
Website: https://ascendex.com
Twitter: https://twitter.com/AscendEX_Global
Telegram: https://t.me/AscendEXEnglish
Medium: https://medium.com/ascendex

About Jet Protocol
Jet Protocol will launch as an open-source, non-custodial borrowing and lending Protocol on the Solana Blockchain. Jet re-engineers what’s possible in terms of capital efficiency, performance, and scalability on Solana. The Protocol allows users to participate in lending protocols where they deposit supported tokens to the platform and then receive interest on their deposits to incentivize participation.

For more information and updates, please visit:
Website: https://Jetprotocol.io
Twitter: https://twitter.com/JetProtocol
Telegram: https://t.me/jetprotocol
Discord: https://discord.gg/BsF3cEbdV9

Attachment

Jet Protocol Lists on AscendEX

Marketing Department
AscendEX
marketing@ascendex.com

October 8, 2021

COVID-19 claims six more patients, infects 136 others

Karachi, October 08, 2021 (PPI-OT):As many as six more patients of Coronavirus died overnight lifting the death toll to 7,480 and 136 new cases emerged when 5,625 tests were conducted. This was stated by Sindh Chief Minister Syed Murad Ali Shah in a statement issued here on Friday. He added that six more patients of COVID-19 lost their lives lifting the death toll to 7,480 that constituted 1.6 percent death rate. Mr. Shah said that 5,625 samples were tested which detected 136 cases that constituted 2.4 percent current detection rate.

He added that so far 6,123,428 tests have been conducted against which 461,424 cases were diagnosed, of them 93.7 percent or 432,572 patients have recovered, including 498 overnight. The CM said that currently 21,372 patients were under treatment, of them 21,061 were in home isolation, 29 at isolation centres and 282 at different hospitals. He added that the condition of 278 patients was stated to be critical, including 24 shifted to ventilators.

According to the statement, out of 136 new cases, 59 have been detected from Karachi, including 22 from South, Korangi 16, East nine, Central and Malir five each and West two. Sukkur 30, Shaheed Benazirabad 21, Sujawal 11, Shikarpur 11, Shikarpur eight, Larkana two, Jacobabad and Qamber one each. The chief minister urged people of the province to follow SOPs.

For more information, contact:
Press Secretary,
Chief Minister House, Sindh
Tel: +92-21-99202019 (Ext: 336)
Website: www.cmsindh.gov.pk

October 8, 2021

Ambassador Matsuda extends his condolences to Balochistan on the earthquake occurred on October 7th

Islamabad, October 08, 2021 (PPI-OT):H.E. Mr. MATSUDA Kuninori, Ambassador of Japan to Pakistan, on Friday expressed his deepest condolences and sorrow with the Government and people of Balochistan affected by the earthquake occurred on October 7th.

In his condolence message, Ambassador MATSUDA conveyed his heartfelt grief and sympathies to those affected by this horrific natural disaster. “Our prayers and thoughts are with everyone who has been affected by the dreadful disaster. We are always ready to extend help and assistance to Pakistan in the time of natural disasters and calamities,” said the Ambassador.

The Ambassador prayed for the eternal peace of the departed souls and wished for the bereaved families to bear this irreparable loss with fortitude and equanimity. The Ambassador also expressed his wish for the early recovery of those injured and restoration of the affected areas.

For more information, contact:
Embassy of Japan in Pakistan
53-70, Ramna 5/4, Diplomatic Enclave 1,
Islamabad 44000, Pakistan
Tel: +92-51-9072500
Fax: +92-51-9072352
Email: culture@ib.mofa.go.jp
Website: http://www.pk.emb-japan.go.jp

October 8, 2021

State Bank launches dedicated landing webpage on promoting housing and construction finance

Karachi, October 08, 2021 (PPI-OT):SBP has launched today a dedicated landing webpage, https://www.sbp.org.pk/hcf/index.html, on promoting housing and construction finance on its website. The page contains extensive information on housing and construction finance and Mera Pakistan Mera Ghar (MPMG), Government’s flagship mark up subsidy scheme for affordable and low cost housing finance. The webpage provides information on various measures taken by SBP to promote housing and construction finance such as issuance of separate Prudential Regulations for housing finance, establishment of a high-level Steering Committee, allocation of mandatory targets for housing and construction finance, incentives and penalties and market facilitation.

Moreover, a dedicated webpage for MPMG, https://www.sbp.org.pk/MPMG/index.html, is also available to facilitate the potential applicants who intend to avail housing finance under MPMG. The MPMG page covers information about the scheme comprehensively including eligibility criteria, tenor of the loan, maximum amount of loan, mark up rates to be charged, maximum list of documents required and subsidy being provided by the Government. Through this page, potential applicants can also access websites of participating banks directly wherein loan application forms under various categories are available. An instalments repayment schedule of the loans and an instalment calculator are also available on this webpage.

The webpage also shares monthly data of housing and construction finance extended by the banks. Progress made under MPMG in terms of the latest statistics including data of amount applied, approved and disbursed under MPMG on monthly basis is also available on MPMG webpage.

Visitors will also be able to view the testimonials of the actual borrowers who have availed subsidized housing finance under MPMG by visiting the website. It is expected that this dedicated webpage will facilitate the visitors by providing them actionable information, guidance, and support they require for easy access to financing under MPMG.

For more information, contact:
Chief Spokesman,
State Bank of Pakistan (SBP)
Central Directorate
I.I. Chundrigar Road, Karachi, Pakistan
Tel: +92-21-111-727-111
Tel: +92-21-39212562
Fax: +92-21-39212433 – 39212436
Email: chief.spokesperson@sbp.org.pk
Website: www.sbp.org.pk

October 8, 2021

Workers’ Remittances in September 2021

Karachi, October 08, 2021 (PPI-OT):With $2.7 billion of inflows during September 2021, workers’ remittances continued their strong momentum and remaining above $2 billion since June 2020.

This is the 7th consecutive month when inflows recorded around $2.7 billion on average.

In terms of growth, remittances increased by 16.9% (y/y) in September, while on an m/m basis, inflows were increased by 0.5%.

Cumulatively, at $8.0 billion, remittances grew by 12.5% during the first quarter of this year over the same period last year.

Remittance inflows during September 2021 were mainly sourced from Saudi Arabia ($691 million), United Arab Emirates ($502 million), United Kingdom ($370 million) and the United States ($245 million).

Proactive policy measures by the Government and SBP to incentivize the use of formal channels, curtailed cross‐border travel in the face of COVID‐19, altruistic transfers to Pakistan amid the pandemic, and orderly foreign exchange market conditions have positively contributed towards the sustained improvement in remittance inflows since last year.

October 8, 2021

Lord Wajid Khan calls on Chairman FBR

Islamabad, October 08, 2021 (PPI-OT):Lord Wajid Khan, a member of the House of Lords, England called on Dr. Muhammad Ashfaq Ahmed, Chairman Federal Board of Revenue here at FBR HQs on Thursday. During the meeting, Lord Wajid Khan congratulated the Chairman on assuming the office of the country’s premier tax collecting organization and appreciated the team FBR for showing an exceptional performance in maximizing revenue potential and broadening the tax base. He also commended FBR for exceeding the assigned revenue target in the first quarter of FY 2021-22.

Relating to his personal knowledge of taxation practices in England and experience of working as a member of the Tax Committee in European Parliament, he expressed his appreciation for the recent initiatives taken by FBR to digitize and automate the processes involved in tax collection in order to minimize human interaction with taxpayers and thereby ensure transparency in the system.

He, in particular, acknowledged the recent launch of Track and Trace System to digitally monitor important sectors like Tobacco, Fertilizers, Sugar, Beverages, Cement and Pharmaceutical from manufacturers to the end users. He also hoped that Point of Sales System introduced by FBR would ensure real time monitoring of actual sales of Tier one retailers to plug revenue leakages and thus increase the revenue collection, significantly.

Chairman FBR briefed the visiting dignitary about his focus on some of the key initiatives which would broaden the tax base and ensure transparency and accountability within FBR. He informed the visiting guest that the introduction of third party audit would minimize harassment of taxpayers and bridge the trust deficit between taxpayers and FBR.

He expressed strong resolve of Team FBR to not only achieve the maximum revenue during the second quarter but also strive to exceed the staggering target of PKR 5,829 Billion set for the current FY 2021-22. Lord Wajid Khan also highlighted the pivotal role being played by foreign remittances sent by Pakistani diaspora settled in England and their keen interest to invest in their home country. He extended an invitation to Chairman FBR to visit England in order to meet the Pakistan community in person and thereby address their concerns about taxation laws in Pakistan.

“This meeting would provide an excellent opportunity to Chairman FBR to listen to the tax related issues of Pakistani community living in UK and to brief them about the recent initiatives taken by FBR for their facilitation,” he added. Lord Wajid Khan hoped to develop an enduring collaboration between UK’s HM Revenue and Customs and FBR to learn from each other’s best practices.

Chairman FBR thanked Lord Wajid Khan for his visit and accepted his invitation to visit England. He expressed his desire to develop a closer collaboration between HMRC and FBR to promote cooperation on tax related matters and ease of doing business for Pakistani diaspora settled in England.

For more information, contact:
Second Secretary (Public Relations)
Federal Board of Revenue (FBR)
FATE Wing, Federal Board of Revenue,
Constitution Avenue, Sector G-5,
Islamabad, Pakistan
Phone: +92-51-9217267
Fax: +92-51-9208456
Email: mujeeb.talpur@fbr.gov.pk, talpur35@gmail.com
Website: https://www.fbr.gov.pk/

October 8, 2021

FBR develops single sales tax portal to facilitate taxpayers

Islamabad, October 08, 2021 (PPI-OT):Building further on its ongoing drive for digitization and automation of various processes involved in revenue collection, Federal Board of Revenue (FBR) has developed “Single Sales Tax Portal” to facilitate the taxpayers and ensure the ease of doing business.

This watershed development of the Single Tax Portal developed by FBR is the outcome of various rounds of negotiations between FBR and the provincial revenue authorities. FBR has already offered this portal to the provincial revenue authorities in order to facilitate the taxpayers through one-link facility. The portal is in the final stages of testing and is likely to be launched by the last week of October, 2021.

It is pertinent to mention that till now, Sales Tax registered persons had to file their monthly Sales Tax returns separately to every tax jurisdiction where they conducted business, such as FBR, Sindh Revenue Board, Punjab Revenue Authority, Khyber Pakhtunkhwa Revenue Authority and Balochistan Revenue Authority. Some of the taxpayers had to file returns with revenue authorities of Azad Jammu and Kashmir and Gilgit-Baltistan. This was a cumbersome task, which often led to complications and disputes over jurisdiction.

Single Sales Tax Portal will also help in simplification of the tax procedures. It will enable the taxpayers to save time and effort and reduce their compliance costs. By minimizing data entry, it also addresses the issues of data and calculation errors. The system will automatically apportion input tax adjustment as well as tax payments across the sales tax authorities. Through this system, officers of all revenue authorities will be able to make better informed decisions about matters related to Sales Tax. The single portal system is a significant milestone towards taxpayers’ facilitation and a big leap forward towards harmonization of taxes between the Federal Government and the provinces.