Apr 30

FPCCI deplores ignoring national chamber at China visit

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has strongly criticized the ministry of commerce for ignoring the apex trade body at the recent important visit of Prime Minister Imran Khan to China. President FPCCI Engr. Daroo Khan Achakzai regretted that the ministry of commerce specially the Advisor to Prime Minister on Commerce […]

by Faisal Shahnawaz

Apr 30

Money & Banking

Rupee makes gain against dollar

KARACHI: The Pak Rupee made gain against dollar on Tuesday after maintaining levels for 11 consecutive days. The rupee ended at Rs141.39 to the dollar from previous day’s closing of Rs141.40 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs141.39 and Rs141.40. The market recorded a high […]

by Faisal Shahnawaz

ExxonMobil chief discusses offshore drilling with minister

Apr 30

Energy

ExxonMobil chief discusses offshore drilling with minister

ISLAMABAD: Chairman of ExxonMobil, Alex Volkov with his team met Ali Haider Zaidi, Minister for Maritime Affairs here on Tuesday.In a tweet message by the minister stated that productive discussions took place on the LNG requirements in Pakistan and the offshore drilling project off the coast of Karachi.

by Faisal Shahnawaz

Sales Tax Act, 1990: FBR may posts IR officer to business premises

Apr 30

Exclusive, Taxation

Sales Tax Act, 1990: FBR may posts IR officer to business premises

KARACHI: Federal Board of Revenue (FBR) may post an officer of Inland Revenue to the premises of a registered taxpayer to monitor sale, purchase and production activities. The Section 40 of updated Sales Tax Act, 1990 explained the powers of FBR and Inland Revenue officers under the law. Section 40: Searches under warrant Sub-Section (1): […]

by Faisal Shahnawaz

Apr 29

Finance

Sindh receives Rs441.8 billion in nine months: finance ministry

ISLAMABAD: The ministry of finance on Monday said that Sindh has received Rs441.8 billion during the first nine months of current fiscal year. While clarifying media reports that the federal government had delayed or reduced transfers of funds to provinces, said that the government of Sindh has received Rs441.8 billion, as federal transfers, during the […]

by Faisal Shahnawaz

Meezan Bank posts 49 percent growth in quarterly net profit

Apr 29

Corporate, Money & Banking

Meezan Bank posts 49 percent growth in quarterly net profit

KARACHI: Meezan Bank Limited has declared 49 percent increase in profit after tax to Rs2.85 billion for the quarter ended March 31, 2019 as compared with Rs1.19 billion in the same period of the last fiscal year. The Earnings per Share (EPS) – on enhanced capital increased to Rs. 2.44 per share, said a statement […]

by Mrs. Anjum Shahnawaz

SRB extends return filing date for telecom service providers

Apr 29

Taxation

SRB extends return filing date for telecom service providers

KARACHI: The Sindh Revenue Board (SRB) has announced an extension for the filing of returns. The revised deadline, now set for May 3, 2019, pertains specifically to the tax period of March 2019.

by Faisal Shahnawaz

Equity market ends down by 104 points on panic selling

Apr 29

Stock & Commodity

Equity market ends down by 104 points on panic selling

KARACHI: The equity market ended down by 104 points on Monday owing to panic selling. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,026 points as against 37,130 points showing a decline of 104 points. Analysts at Arif Habib Limited said that the market commenced on a positive note today and continued […]

by Faisal Shahnawaz

Rupee maintains level for 11th consecutive trading day

Apr 29

Money & Banking

Rupee maintains level for 11th consecutive trading day

KARACHI: The Pak Rupee maintained level against the US dollar for the 11th consecutive trading day on Monday owing to lackluster trading activities. The rupee ended Rs141.40 to the dollar, same level on last Friday, in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs141.39 and Rs141.40. The […]

by Faisal Shahnawaz

FBR IR offices to remain open till 8:00pm on April 30 to facilitate return filing

Apr 29

Taxation

FBR IR offices to remain open till 8:00pm on April 30 to facilitate return filing

ISLAMABAD: Federal Board of Revenue (FBR) on Monday directed the offices of Inland Revenue to observe extended working hours to facilitate taxpayers for filing their income tax returns and payment of duty and taxes. As per the FBR directives the Inland Revenue offices, including Large Taxpayers Units (LTUs), Regional Tax Offices (RTOs) and Corporate Regional […]

by Faisal Shahnawaz