Apr 3

FBR extends suspension period of two customs officers

ISLAMABAD: Federal Board of Revenue (FBR) has extended in suspension period of two customs officers posted in Karachi for further three months. In a notification issued on Wednesday, the FBR extended the suspension period of Sultan Aurangzeb, Principal Officer (BS-17), Model Customs Collectorate of Port Muhammad Qasim, Karachi for a period of three months effective […]

by Faisal Shahnawaz

KSE-100 index declines by 13 points in narrow band trading

Apr 3

Stock & Commodity

KSE-100 index declines by 13 points in narrow band trading

The Pakistan Stock Exchange (PSX) witnessed a modest decline on Wednesday, with the benchmark KSE-100 index closing down by 13 points, ending the day at 38,023 points compared to the previous session.

by Faisal Shahnawaz

Rupee ends down by 30 paisas against dollar

Apr 3

Money & Banking

Rupee ends down by 30 paisas against dollar

KARACHI: The Pak Rupee depreciated by 30 paisas against dollar on Wednesday owing to reports of IMF conditionalities for new loan program. The rupee ended down by 30 paisas to close at Rs141.40 to the dollar from previous day’s close of Rs141.10 in interbank foreign exchange market. The interbank foreign exchange market was initiated in […]

by Faisal Shahnawaz

Ministry assures softening labeling conditions on imported consignments till June 30

Apr 3

Trade & Industry

Ministry assures softening labeling conditions on imported consignments till June 30

KARACHI: The government has agreed to soften labeling conditions till end of June 2019 in order to facilitate consignments stuck up at ports, industry sources said on Wednesday. Advisor to Prime Minister on Commerce Abdul Razak Dawood in a communication with Karachi Chamber of Commerce and Industry (KCCI) assured to defer the implementation of SRO […]

by Faisal Shahnawaz

Rupee falls by 26 paisas in mid-day trading

Apr 3

Money & Banking

Rupee falls by 26 paisas in mid-day trading

KARACHI: The rupee depreciated by 26 paisas against dollar on Wednesday owing to hike in policy rate and petroleum products. The dollar is being traded at Rs 141.36 in mid-day trade in interbank foreign exchange market. The foreign currency market ended last day at Rs 141.10 to the dollar.

by Faisal Shahnawaz

Another tax amnesty scheme amid claims to bring back looted money

Apr 2

Taxation

Another tax amnesty scheme amid claims to bring back looted money

ISLAMABAD: The tall claims of present ruling party for bringing back looted money into the kitty are fading away as the PTI government is introducing a tax amnesty for looter and plunderers. Finance Minister Asad Umar on Tuesday confirmed that the PTI government is going to announce new tax amnesty for undeclared foreign and domestic […]

by Faisal Shahnawaz

KSE-100 declines by 319 points on selling pressure

Apr 2

Stock & Commodity

KSE-100 declines by 319 points on selling pressure

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) witnessed decline of 319 points on Tuesday owing to selling pressure. The index closed at 38,036 points as against 38,355 points showing a decline of 319 points. Analysts at Arif Habib Limited said that the market went down eventually after making a positive stride of […]

by Mrs. Anjum Shahnawaz

Rupee ends down by 21 paisas in interbank

Apr 2

Money & Banking

Rupee ends down by 21 paisas in interbank

KARACHI: The rupee depreciated by 21 paisas against dollar on Tuesday owing to hike in policy rate and petroleum products. The rupee ended Rs141.10 to the dollar from last Friday’s close of Rs140.89 in interbank foreign exchange market. The interbank foreign exchange market was initiated in the range of Rs140.90 and Rs140.95. The market recorded […]

by Faisal Shahnawaz

High Speed Diesel July- March sales hit decade low

Apr 2

Corporate, Finance

High Speed Diesel July- March sales hit decade low

KARACHI: The sales of High Speed Diesel (HSD) have declined to decade low due to slowdown in economy, analysts said on Tuesday. In July – March 2018/2019, HSD sales decline (-20 percent YoY in 9MFY19) touched over decade low due to slowdown in economy. While Motor Spirit (MS or Petrol) growth remained limited to 1 […]

by Faisal Shahnawaz

UBL decides sale of its Tanzania operation for $3.96 million

Apr 2

Money & Banking

UBL decides sale of its Tanzania operation for $3.96 million

KARACHI: United Bank Limited (UBL) has decided to sale of its Tanzania operation at the sale price of $3.96 million to Exim Bank Tanzania Limited. It was decided at the the Annual General Meeting of UBL, which has approved winding up UBL Bank (Tanzania) Limited after accepting letter of intent from Exim Bank Tanzania Limited […]

by Faisal Shahnawaz