Mar 7

Rupee gains 20 paisas against dollar

KARACHI: The Pak Rupee gained 20 paisas against dollar on Thursday owing to inflows of remittances and export receipts. The rupee ended Rs138.64 to the dollar from previous day’s close of Rs138.84 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs138.70 and Rs138.75. The market recorded day […]

by Faisal Shahnawaz

SBP directs for opening bank branches on Saturday to receive Hajj applications

Mar 7

National

SBP directs for opening bank branches on Saturday to receive Hajj applications

KARACHI: State Bank of Pakistan (SBP) on Thursday directed commercial banks to open branches on March 09 (Saturday) for collection of Hajj forms. The SBP said that Ministry of Religious Affairs & Interfaith Harmony, Government of Pakistan has extended the date for collection of Hajj applications by designated banks from March 7, 2019 to March […]

by Faisal Shahnawaz

Local car assemblers to be beneficiary on concession to non-compliant taxpayers

Mar 7

Taxation

Local car assemblers to be beneficiary on concession to non-compliant taxpayers

KARACHI: The local car assemblers are main beneficiary of the government decision to allow non-compliant taxpayers for purchasing motor vehicles, analysts said on Thursday. A day earlier on floor of the house Finance Minister Asad Umar presented this proposal to the Finance Supplementary (Second Amendment) Bill, 2019 to allow non-filers of income tax returns to […]

by Faisal Shahnawaz

Company registration crosses over 95,500 by February

Mar 7

Finance

Company registration crosses over 95,500 by February

ISLAMABAD: Total company registration with Securities and Exchange Commission of Pakistan (SECP) has crossed 96,500 by end of February 2019. A statement issued by the SECP said that about 1,290 new companies were registered in February. As compared to the corresponding month of last financial year, it represents a growth of 26 percent raising the […]

by Faisal Shahnawaz

Non-filers allowed purchase of locally assembled vehicles

Mar 6

Supplementary Budget 2019, Taxation

Non-filers allowed purchase of locally assembled vehicles

ISLAMABAD: The federal government has allowed non-filers of income tax returns to purchase of locally assembled motor vehicles of any engine capacity. Finance Minister Asad Umar in his speech on floor of the house on Wednesday while passing the Finance Supplementary (Second Amendment) Bill, 2019, said that in order to address the concerns of local […]

by Faisal Shahnawaz

PM approves country’s first-ever National Tariff Policy

Mar 6

Finance

PM approves country’s first-ever National Tariff Policy

ISLAMABAD: Prime Minister Imran Khan on Wednesday approved the first-ever ‘National Tariff Policy’ which is aiming to improve competitiveness through access to raw materials, increase employment opportunities by attracting investment through transparent and predictable tariff regime. The draft policy, approved by the prime minister, would be presented before the Federal Cabinet for its consideration. Highlighting […]

by Faisal Shahnawaz

SFA finds unhygienic, expired food items in Karachi

Mar 6

National

SFA finds unhygienic, expired food items in Karachi

KARACHI: Sindh Food Authority (SFA) on Wednesday raided several shops of sweets and bakers and found unhygienic environment and expired food items. The raids were undertaken in central district of Karachi. The authority inspected sweet shops, bakeries and marts at Block ‘M’ and ‘L’ of North Nazimabad. The authority sealed three bakeries and sweet shops […]

by Faisal Shahnawaz

Industry demands separate gas line to avoid losses

Mar 6

Trade & Industry

Industry demands separate gas line to avoid losses

KARACHI: The business community has demanded separate gas line for industries and CNG stations in order to avoid production losses. Saleem Parekh, President, SITE Association of Trade and Industry in a statement on Wednesday said that the common gas line for industries and CNG stations is a ‘hurdle in industrial production’ and also the main […]

by Faisal Shahnawaz

Equity market ends down by 120 pts on selling pressure

Mar 6

Stock & Commodity

Equity market ends down by 120 pts on selling pressure

KARACHI: The equity market ended down by 120 points on Wednesday owing to continued selling pressure. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,568 points as against 39,689 points showing a decline of 120 points. Analysts at Arif Habib Limited said that the market remained under pressure during the day despite […]

by Faisal Shahnawaz

Rupee ends down by 11 paisas against dollar

Mar 6

Money & Banking

Rupee ends down by 11 paisas against dollar

ISLAMABAD: The Pak Rupee ended down by 11 paisas against dollar in interbank foreign exchange market owing to high demand for import and corporate payments.

by Faisal Shahnawaz