Aug 9

Stock market falls by 309 points amid selling pressure

KARACHI: The stock market registered 309 points decline on Friday amid selling pressure in blue chip stocks. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 29,429 points as against 29,738 points showing a decline of 309 points. Analysts at Arif Habib Limited said that the market continued trimming down today, with selling […]

by Mrs. Anjum Shahnawaz

FBR directs gas utilities to refuse commercial, industrial connections to non-ATL persons

Aug 9

Taxation

FBR directs gas utilities to refuse commercial, industrial connections to non-ATL persons

ISLAMABAD: Federal Board of Revenue (FBR) on Friday directed gas utilities not to provide connection to unregistered persons or not appeared on Active Taxpayers List (ATL). Chairman FBR Syed Shabbar Zaidi has sent letters to Managing Directors Sui Northern Gas Company Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) wherein he has requested that […]

by Mrs. Anjum Shahnawaz

FBR urges consumers to provide sales tax deduction by unregistered persons

Aug 9

Taxation

FBR urges consumers to provide sales tax deduction by unregistered persons

ISLAMABAD: Federal Board of Revenue (FBR) has urged consumers to provide invoices showing deduction of sales tax by unregistered persons. The FBR on Friday appealed the people to file complaints against charge of sales tax by unregistered businessmen. “The consumers’ are encouraged to send the images of such invoices or report the matter to FBR […]

by Mrs. Anjum Shahnawaz

Overseas Pakistanis send $2.04 billion in July

Aug 9

Finance

Overseas Pakistanis send $2.04 billion in July

KARACHI: Overseas Pakistani workers have remitted $2.04 billion in the first month of fiscal year 2019/2020 as compared with $1.98 billion in the same month of the last fiscal year, State Bank of Pakistan (SBP) said on Friday. During July 2019, the inflow of worker’s remittances amounted to $2.04 billion, which is 23.91 percent more […]

by Mrs. Anjum Shahnawaz

SBP to monitor ATMs working during Eid holidays

Aug 9

Money & Banking

SBP to monitor ATMs working during Eid holidays

KARACHI: State Bank of Pakistan (SBP) will monitor the working of Automated Teller Machines (ATMs) during Eid holidays to ensure uninterrupted availability of cash. The central bank on Friday said that it had provided a sufficient quantity of fresh and good quality ATM notes of higher denominations to commercial banks for smooth ATM operations during […]

by Mrs. Anjum Shahnawaz

Pakistan cuts trade ties with India; notifications issued

Aug 9

Exclusive, Finance, National

Pakistan cuts trade ties with India; notifications issued

ISLAMABAD: Pakistan has completely cut trade ties with India as the ministry of commerce issued notification for banning import and exports with the neighboring country. The ministry of commerce on Friday issued SRO 927(I)/2019 and SRO 928(I)/2019 to impose ban on trade with India. Through SRO 927 (I)/2019, the ministry of commerce amended Import Policy […]

by Mrs. Anjum Shahnawaz

Rupee ends down on dollar demand ahead of week-long holidays

Aug 9

Money & Banking

Rupee ends down on dollar demand ahead of week-long holidays

KARACHI: The Pak Rupee ended down by 19 paisas against dollar on Friday owing to higher demand for import payments ahead of Eid and weekly holidays. The rupee closed at Rs158344 to the dollar from previous day’s closing of Rs158.25 in interbank foreign exchange market. Currency experts said that demand for greenback was high due […]

by Mrs. Anjum Shahnawaz

FBR extends date for filing sales tax, federal excise return

Aug 9

Taxation

FBR extends date for filing sales tax, federal excise return

ISLAMABAD: Federal Board of Revenue (FBR) on Friday extended the date for filing sales tax and federal excise return for the month of July 2019. A notification issued by the FBR said that the annexures of sales and purchases, which are due on August 10, 2019 cab be submitted up to August 16, 2019. The […]

by Mrs. Anjum Shahnawaz

Ufone celebrates week-long 72 years of Pakistan’s independence

Aug 9

IT & Telecom

Ufone celebrates week-long 72 years of Pakistan’s independence

ISLAMABAD: Ufone concluded its week-long Azaadi celebration on account of Pakistan’s 72 years of Independence with full patriotic fervor. The entire organization participated with immense passion and reflected their love for Pakistan. Activities for Azaadi Week carried on for the entire week. The company portrayed true patriotism through a series of activities aligned nationwide across […]

by Mrs. Anjum Shahnawaz

FBR reinstates 10 customs officials into service on FST order

Aug 9

Pakistan Customs

FBR reinstates 10 customs officials into service on FST order

ISLAMABAD: Federal Board of Revenue (FBR) has re-instated 10 customs officials into service in compliance to order passed by Federal Service Tribunal (FST), Lahore. The FBR issued notifications on Thursday to re-instate the officials in pursuance of judgment passed by FST, Lahore on July 11, 2019. Following are the notifications: 01.No. 2072-C-III/2019:- In pursuance of […]

by Mrs. Anjum Shahnawaz