KARACHI: The stock market likely to remain range bound in the upcoming week amid lack of triggers. Analysts at Arif Habib Limited said that with the State Bank of Pakistan raising the key discount rate by 50 bps, leveraged sectors such as Cements, Steel, Fertilizers, OMCs and Textiles may come under pressure while banks could […]
ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has conducted an awareness session on Anti-Money Laundering (AML)/Counter-Terrorism Financing (CFT) in collaboration with of Institute of Chartered Accountants of Pakistan (ICAP), a statement said on Friday. The SECP said that the awareness session was conducted AML/CFT obligations of non-profit organizations (NPOs) licensed under section 42 of […]
KARACHI: Sindh Revenue Board (SRB) has suspended sales tax registration of two goods transport companies for defaulting payment and non-compliance of monthly returns, officials said on Friday. The SRB suspended sales tax registration of M/s. Sheikh Zahoor Goods and M/s. New Darwesh Goods Transport for violating provincial tax laws. The SRB suspended registration of Sheikh […]
ISLAMABAD: Federal Board of Revenue (FBR) on Friday established a new directorate for taking action against tax evaders. The FBR notified to create Directorate General of Broadening of Tax Base (DGBTB) to bring potential taxpayers into tax net. The new directorate, which was already made part of the statute, will work on the available data […]
ISLAMABAD: Finance Minister Asad Umar on Friday chaired the 5th meeting of the 9th National Finance Commission (NFC) that was held in at Lahore. The six sub-groups, formulated during the first meeting in February, gave presentation on various aspects of resources distribution as per the terms of reference assigned to the groups. The main focus […]
KARACHI: State Bank of Pakistan (SBP) on Friday increased key policy rate by 50 basis points to 10.75 percent for next two months effective from April 01, 2019. The policy rate has been increased while taking into account the above developments and the evolving macroeconomic situation, the MPC noted that sustainable growth and overall macroeconomic […]
KARACHI: The equity market ended with 96 points gain on Friday in a range bound trading activity. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,649 points as against 38,553 points showing an increase of 96 points. Analysts at Arif Habib Limited said the market performed range bound between -69 points and […]
KARACHI: The Pak Rupee fell sharply by 49 against the US dollar on Friday owing to higher demand for import and corporate payments. The rupee ended Rs140.78 to the dollar from previous day’s close of Rs140.29 in interbank foreign exchange market. The interbank foreign market was initiated in the range of Rs140.60 and Rs140.80. The […]
KARACHI: The Pak Rupee witnessed massive fall of 41 paisas against US dollar in early trade on Friday. The dollar is being traded at Rs140.70 in Interbank Foreign Exchange Market. The foreign currency market ended yesterday at Rs140.29 to the dollar. Currency experts said the higher demand for import and corporate demand escalated the rupee […]
KARACHI: The government has allowed tax exemption to the income derived by pensioners invested in various schemes, including pension funds. The Second Schedule of Income Tax Ordinance, 2001 allowed tax exemption to the income derived by pensioners. The following exemptions are available to the pensioners: Any payment from a provident fund to which the Provident […]