KARACHI: The Pak Rupee gained 17 paisas against US dollar in mid-day trade on improved inflows. The dollar is being traded at Rs140.10 in interbank foreign exchange market. The foreign currency market ended Rs140.27 in last day trading. Currency experts said that due to IMF loan program there would be pressure on the local currency […]
KARACHI: State Bank of Pakistan (SBP) will announce Monetary Policy for the next two months on Friday, March 29, 2019, a statement said on Wednesday. In the last monetary policy announcement, the central bank increased the policy rate by 25 basis points to 10.25 percent effective from February 01, 2019. The monetary policy committee (MPC) […]
KARACHI: Any income representing any payment received by way of gratuity or commutation of pension by an employee on his retirement is exempted from income tax. The Second Schedule of Income Tax Ordinance, 2001 explained the exemption from total income. Any income representing any payment received by way of gratuity or commutation of pension by […]
KARACHI: Federal Investigation Agency (FIA) has summoned leading fashion designers in inquiry related to losses to PIA in Premier Service Operations. The FIA summoned the fashion designers in connection that PIA had acquired their services for design of ‘PIA Premier Service Uniform’ for its cabin crew. The agency said the designers were acquainted with the […]
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has decided to finalize draft proposals for new tax amnesty scheme. FPCCI President Engr. Daroo Khan Achakzai called a meeting of stakeholders on Tuesday to discuss the proposals for New Tax Amnesty Scheme 2019 at Federation House, Karachi, Regional office Lahore and Capital Office Islamabad […]
KARACHI: Federal Board of Revenue (FBR) has frozen around 4,000 bank accounts of tax defaulters in a major crackdown, according to media reports on Tuesday. These bank accounts have been attached during last three months to recover outstanding amount from tax defaulters. In the major action against tax defaulters the FBR recovered around Rs8.2 billion […]
ISLAMABAD: Finance Minister of Pakistan Asad Umar met the IMF Mission Chief Ernesto Ramirez Rigo in Islamabad, on Tuesday. The minister and the Mission Chief discussed all issues including fiscal, monetary, structural reforms and energy sector, a statement said. Asad Umar briefed Ramirez Rigo about the steps taken by the government for improving the economy […]
ISLAMABAD: The government has decided to end the open sky policy in order to prevent losses to national flag carrier i.e. Pakistan International Airlines (PIA). Federal Minster for Information and Broadcasting Chaudhry Fawad Hussain at a press conference after the federal cabinet meeting on Tuesday said that the government had decided to end the country’s […]
ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) and Ministry of Climate Change (MoCC) have signed an agreement to support the Clean Green Pakistan Movement. This collaboration will enable to tackle issues of low forest cover and poor cleanliness in urban & rural areas of Pakistan, said a statement on Tuesday. Under this MoU, PTCL and MoCC […]
ISLAMABAD – In a significant development, the Federal Board of Revenue (FBR) announced the promotions of two distinguished officers from the Inland Revenue Service (IRS) to the coveted BS-22 rank.