The Economic Coordination Committee (ECC) of the Cabinet, under the leadership of Finance Minister Asad Umar, approved the raising of an Islamic Term Finance Facility amounting to Rs200 billion to tackle circular debt issue.
(more…)Month: January 2019
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FPCCI welcomes decision for making Torkham Border operational
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed its approval of the government’s decision to make the Torkham Border operational around the clock.
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KSE-100 gains 204 points amid selling pressure
KARACHI: The benchmark KSE-100 Index of Pakistan Stock Exchange (PSX) experienced a modest gain of 204 points on Tuesday, closing at 40,624 points, up from 40,420 points the previous day.
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Rupee strengthens by 10 paisas against dollar
KARACHI: The Pakistani Rupee saw a positive trend against the US Dollar on Tuesday, gaining 10 paisas in the interbank foreign exchange market.
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SBP stresses urgent need to initiate structural reform in economy
KARACHI: The State Bank of Pakistan (SBP) highlighted the critical need for immediate structural reforms in the country’s economy in its report on the State of Pakistan’s Economy for the first quarter of Fiscal Year 2018/2019, released on Tuesday.
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UBL surrenders New York Branch license
KARACHI: United Bank Limited (UBL) officially communicated to the Pakistan Stock Exchange (PSX) on Tuesday that it has surrendered its New York branch license to the New York State Department of Financial Services (NYDFS) on January 28, 2019.
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Rupee makes significant gain against dollar in early trade
KARACHI: The Pakistani Rupee exhibited noteworthy gains against the US Dollar in early trade on Tuesday, attributed to the shrinking current account deficit and increased foreign assistance inflows, according to market dealers.
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Eliminating all tax exemptions, concessions planned
KARACHI: The government considering to withdraw all types of tax exemptions and concessions during next few years.
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Income Tax Ordinance 2001: Due date for payment of tax
KARACHI: Federal Board of Revenue (FBR) has explained the due date for payment of tax under Section 137 of Income Tax Ordinance, 2001.
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