KARACHI: The foreign exchange reserves were flat at $14.966 billion by week ended March 08, 2019, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country increased by $10 million to $14.965 billion as compared with $14.956 billion a week ago. The reserves held by SBP also increased by $6 […]
KARACHI: The equity market ended down by 120 points in narrow trading activities on Thursday. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,808 points as against 38,929 points showing a decline of 120 points. Analysts at Arif Habib Limited said KSE-100 index went down again by the end of session, although […]
KARACHI: The Pak Rupee lost 38 paisas against dollar on Thursday after indication of the government for entering IMF program. The rupee ended Rs139.19 to the dollar from previous day’s close of Rs138.81 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs138.92 and Rs138.99. The market recorded […]
KARACHI: The government has granted exemption from deduction of income tax on cash withdrawal by non-filers from Pak Rupee bank accounts, which have been opened for receiving foreign remittances. Through Finance Supplementary (Second Amendment) Act, 2019 a clause 101A has been inserted to Second Schedule of Income Tax Ordinance, 2001. It said: “The provisions of […]
KARACHI: The government has allowed non-filers to purchase locally manufactured motor vehicles but at the same time the advance tax rates for non-compliant taxpayers have been increased by 50 percent. Federal Board of Revenue (FBR) said that the rates have been revised upward on purchase and registration of new locally manufactured cars by non-filers and […]
State Bank of Pakistan
KARACHI: State Bank of Pakistan (SBP) has urged Small and Medium Enterprises (SMEs) to avail refinance facilities as the central bank put in place number of refinance facilities both for purchase of plant & machinery for SMEs and working capital finance for special sectors. While speaking to SMEs, Syed Samar Hasnain, Executive Director, SBP at […]
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended with gain of 32 points in a range bound trading activities on Wednesday. The index closed at 38,929 points as against 38,896 points showing an increase of 32 points. Analysts at Arif Habib Limited said that the market followed the trend witnessed in the […]
KARACHI: The Pak Rupee maintained level against dollar on Wednesday despite higher demand for import and corporate payments. The rupee ended Rs138.81 to the dollar from previous day’s close of Rs138.82 in interbank foreign exchange market. The interbank foreign exchange market was market initiated in the range of Rs138.80 and Rs138.85. The market recorded day […]
KARACHI: The income tax filers have started enjoying withholding tax exemption on transactions of money through banking channels. After the implementation of amendments made through Finance Supplementary (Second Amendment) Act, 2019 the income tax return filers are no more required to pay 0.6 percent withholding tax on cash withdrawal. The exemption is applicable on the […]
KARACHI: Federal Board of Revenue (FBR) has allowed duty free import of plant and machinery by industrial and manufacturing units. The exemption has been allowed through Finance Supplementary (Second Amendment) Act, 2019 under Chapter 84 and 85 of Customs Act, 1969. The FBR said that plant and machinery shall be allowed zero percent customs duty […]