KARACHI: State Bank of Pakistan (SBP) on Monday announced bank holidays from August 12 to 15, 2019 on the occasion of Eid-ul-Azha. In a notification sent to presidents / chief executives of all banks / Development Financial Institutions / Microfinance Banks, the central bank said that SBP will remain closed from 12th to 15th August, […]
KARACHI: The disbursement of agriculture loan has registered 21 percent growth to Rs1,174 billion in 2018/2019 as compared with Rs972.6 billion in the preceding fiscal year, State Bank of Pakistan (SBP) said on Monday. However, banks have missed the disbursement target of Rs1,250 billion set by Agricultural Credit Advisory Committee for 2018-2019, the central bank […]
KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged Federal Board of Revenue (FBR) to extend the relaxation for further 90 days that was given for clearance of imported items without printing of retail price. Junaid Esmail Makda, President, KCCI has requested the FBR to extend the relaxation given for clearance of imported items […]
KARACHI: The share market plunged by 1.53 percent on Monday due to spike in tension between Pakistan and India at Line of Control (LoC). The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,181 points as against 31,666 points showing a decline of 486 points. Analysts at Topline Securities said that KSE-100 index […]
KARACHI: The Pak Rupee continued to make recovery and gained 18 paisas against dollar on Monday owing to inflows under home remittances for Eid related expenses. The rupee ended Rs158.94 to the dollar as compared with Rs159.12 in interbank foreign exchange market. The rupee started recovery against the dollar during the last week and continued […]
KARACHI: Federal Board of Revenue (FBR) has issued withholding tax rates on payment for goods and services during tax year 2019/2020 under Section 153 of Income Tax Ordinance, 2001. The FBR said that every prescribed person shall collect withholding tax under Section 153 of Income Tax Ordinance, 2001 from resident persons and permanent establishment in […]