Car loans shrink by 55.3pc on non-filers restriction: State Bank

KARACHI: The car financing has significantly declined by 55.3 percent during first quarter of current fiscal year due to restriction imposed by the government on non-filers to purchase cars. Read more »

Prime Minister directs FBR to focus on big tax evaders

ISLAMABAD: Prime Minister Imran Khan on Wednesday directed the country’s premier revenue collecting agency to focus on tax recovery from the big tax evaders. Read more »

British Airways will increase Pakistan’s connectivity: SAPM

ISLAMABAD: Zulfikar Bukhari, Special Assistant to Prime Minister (SAPM) on Overseas Pakistanis & Human Resource has said that British Airways will help in increasing Pakistan’s connectivity with the world. Read more »

State Bank sells T-Bills worth Rs103.9 billion

KARACHI: The State Bank of Pakistan (SBP) has raised Rs103.9 billion for budget financing through sale of Market Treasury Bills (MTBs) in an auction on Wednesday. Read more »

Port Qasim launches night navigation system

KARACHI: Night navigation system for the large vessels has been launched at Port Qasim for the very first time in the history of Pakistan. Read more »

Equity market witnesses selling ahead of policy rate announcement

KARACHI: The equity market witnessed selling pressure on Wednesday as the central bank is announcing monetary policy tomorrow.       The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at... Read more »

Interbank market ends with rupee appreciation

KARACHI: The interbank foreign exchange market ended with 7 paisas gain in rupee value against dollar on Wednesday due to lower demand from importers.     The rupee ended Rs138.58 to the... Read more »

FPCCI to move review petition in demolition of illegal constructions

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday decided to file review petition before the Supreme Court of Pakistan (SCP) regarding demolition of illegal / unauthorized construction. Read more »

NBP becomes settlement bank for Mobi Direct Payment System

KARACHI: National Bank of Pakistan (NBP) has signed an agreement to become settlement bank for Mobi Direct’s digital payment system.     The NBP, in continuation of the two MoU’s signed with... Read more »

Rupee continues gain in early trade

KARACHI: The Pak Rupee continued its gain against dollar in early trading on Wednesday and strengthened by 11 paisas. Read more »

State Bank estimates 9.2pc decline in cotton output in current fiscal year

KARACHI: The State Bank of Pakistan (SBP) said that latest estimates for cotton crop reveal a worrying picture, as the total production in FY19 is estimated at 10.8 million bales, a decrease... Read more »

Income Tax Ordinance 2001: Tax recovery through arrest, attachment of property

KARACHI: Federal Board of Revenue (FBR) has powers to attach moveable or immovable properties and through arrest of a person for recovery of due amount of taxes. Read more »