SBP stops banks selling Rs40,000 prize bonds, issues procedure for conversion into registered bonds

KARACHI: State Bank of Pakistan (SBP) has stopped banks from issuing prize bond denomination of Rs40,000 with immediate effect and also issued instructions regarding conversion into registered bonds and encashment. Read more »

Share market falls by 653 points on heavy selling

KARACHI: The share market sharply fell by 653 points or 1.9 percent on Monday owing to heavy selling during the day. Read more »

Rupee hits all time low against dollar

KARACHI: The Pak Rupee ended down to hit all time low against dollar at closing on Monday owing to pressure from payment for import and corporate. Read more »

Finance Bill 2019: tax officials granted powers to enter premises for gold, prize bonds; KCCI opposes

KARACHI: The Finance Bill 2019 has proposed discretionary powers to Commissioner Inland Revenue to enter and search any premises for undeclared gold and prize bonds. Read more »

Tax slabs increased for rental income from properties

KARACHI: The government has revised tax slabs for rental income from property to eight from five. Read more »