Mar 22

Equity market gains 147 points on optimistic sentiments

KARACHI: The equity market gained 147 points on Friday on hopes of good news on economic front. The benchmark KSE-100 index closed at 38,532 points as against 38,385 points showing an increase of 147 points. Analysts at Arif Habib Limited said that the market had a relatively better session as compared to the past whole […]

by Faisal Shahnawaz

Rupee falls by 75 paisas against dollar on import demand

Mar 22

Money & Banking

Rupee falls by 75 paisas against dollar on import demand

KARACHI: The Pak Rupee fell 75 paisas against US dollar on Friday owing to higher demand for import and corporate payments. The rupee ended Rs140.24 to the dollar from previous day’s closing of Rs139.49 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs139.75 and Rs140.00. The market […]

by Mrs. Anjum Shahnawaz

FPCCI welcomes FBR focal person appointment

Mar 22

Trade & Industry

FPCCI welcomes FBR focal person appointment

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has welcomed the appointment of focal person by Federal Board of Revenue (FBR) for resolving issues related to industry. In a statement on Friday FPCCI praised appointment of FBR focal person, Engr. Daroo Khan AchakzaiEngr. Daroo Khan Achakzai, President FPCCI on behalf of Federation of […]

by Faisal Shahnawaz

Mar 22

Money & Banking

Bank holiday

KARACHI: State Bank of Pakistan (SBP) has announced bank holiday on March 23, 2019 on occasion of Pakistan Day. In a circular issued by the SBP said that the State Bank of Pakistan would remain closed on March 23, 2019 (Saturday) being public holiday on the occasion of “Pakistan Day” as declared by the Government […]

by Faisal Shahnawaz

Rupee declines by 61 paisas against dollar in early trade

Mar 22

Money & Banking

Rupee declines by 61 paisas against dollar in early trade

KARACHI: The Pak Rupee significantly declined by 61 paisas against US dollar in early trade on Friday. The dollar is being traded at Rs140.10 in interbank foreign exchange market. The foreign currency market was ended last day at Rs139.49 to the dollar. Currency experts said that due to high demand for import and corporate payment […]

by Faisal Shahnawaz

Maintaining five-year record of international trade mandatory under Customs Act

Mar 22

Pakistan Customs, Taxation

Maintaining five-year record of international trade mandatory under Customs Act

KARACHI: Importers, exporters and other stakeholders related to international trade are required to maintain transactions record for at least past five years. According to Customs Act, 1969 the stakeholders of international trade are required to maintain record under the following section: Section 211: Maintenance of record Sub-Section (1): All importers, exporters and claimants of duty […]

by Faisal Shahnawaz