Mar 25

Printing details, ingredients on imported goods: KCCI demands reviewing notification implementation date

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has demanded the commerce ministry to review the date of implementation of a notification regarding printing of details and ingredients on the imported goods. In a statement on Monday KCCI President Junaid Esmail Makda requested Advisor to PM for Commerce Abdul Razak Dawood to instruct relevant department […]

by Mrs. Anjum Shahnawaz

Mar 25

Stock & Commodity

Equity market continues declining trend

KARACHI: The equity market continued is declining trend on Monday and lost 403 points under selling pressure. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,129 points as against 38,532 points showing a decline of 403 points. KSE-100 index continued its downward trend that it picked earlier last week and gave no […]

by Mrs. Anjum Shahnawaz

Rupee slides by five paisas against dollar

Mar 25

Money & Banking

Rupee slides by five paisas against dollar

KARACHI: The Pak Rupee ended down by 5 paisas against the US dollar on Monday despite reports of inflows from China. The rupee ended Rs140.29 to the dollar from last Friday’s close of Rs140.24 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs140.25 and Rs140.30. The market […]

by Mrs. Anjum Shahnawaz

Electronic Market protests against duty, taxes on mobiles

Mar 25

IT & Telecom

Electronic Market protests against duty, taxes on mobiles

KARACHI: Karachi Electronic Market on Monday protested against levy of 100 percent duty and taxes on used imported phones. The levy has froze all trading activities at the mobile market, said Muhammad Rizwan, President, Electronic Market. The market demanded the government of withdrawing mandatory requirement of approval from Pakistan Telecommunication Authority (PTA). Rizwan said that […]

by Mrs. Anjum Shahnawaz

SBP estimates lower GDP growth, high inflation

Mar 25

Finance

SBP estimates lower GDP growth, high inflation

KARACHI: State Bank of Pakistan (SBP) has projected the real GDP growth for fiscal year 2018/2019 would be around 3.5-4 percent much lower than the actual target of 6.2 percent. The central bank in State of Pakistan Economy, Second Quarterly Report for Fiscal Year 2018/2019, issued on Monday the SBP further projected that the inflation […]

by Mrs. Anjum Shahnawaz

Mar 25

Pakistan Customs, Taxation

FBR suspends customs officer

ISLAMABAD: Federal Board of Revenue (FBR) has suspended an officer Pakistan Customs Service (PCS) BS-16 while taking disciplinary action against him. In a notification issued on Monday, the FBR while exercising powers under Government Servants (Efficiency & Discipline) Rules, 1973, suspended Mansab Shah, Inspector, BS-16, Model Customs Collectorate of Preventive, Lahore with immediate effect for […]

by Mrs. Anjum Shahnawaz

Tax rates for salary, business individuals

Mar 25

Exclusive, Taxation

Tax rates for salary, business individuals

KARACHI: Following are the tax rates for individuals under First Schedule of Income Tax Ordinance, 2001. The tax rate as updated through Finance Supplementary (Amendment) Act, 2018 to Income Tax Ordinance, 2001, issued by Federal Board of Revenue (FBR). Rates of tax for individuals (1) The rates of tax imposed on the taxable income of […]

by Faisal Shahnawaz