Raising loans on interest prohibited, SECP issues draft amendment to Shariah regulations

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Thursday issued draft amendments to Shariah Governance Regulations, 2018 saying that raising loans on interest is prohibited. Read more »

CNIC condition not applicable on purchases below Rs50,000

KARACHI: The condition of providing CNIC details is not applicable on purchases up to Rs50,000 by a person, said Zeeshan Merchant, former vice president of Karachi Tax Bar Association (KTBA). Read more »

SBP issues procedure for loans under PM’s Kamyab Jawan SME Lending Program

KARACHI: State Bank of Pakistan (SBP) on Thursday issued procedure for obtaining loan under Prime Minister’s Kamyab Jawan SME Lending Program. Read more »

Gold rate hits all time high at Rs82,000

KARACHI: The price of gold has reached to all time high at Rs82,000 per Tola in the local market, traders said on Thursday. Read more »

FBR meeting on July 12 to speed up action against Benami properties

ISLAMABAD: In order to speed up action against Benami properties an important meeting is scheduled for July 12 (Friday) at Headquarter of Federal Board of Revenue (FBR). Read more »

KSE-100 gains 35 points amid low volumes

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) gained 35 points on Thursday to close at 33,875 points as against previous day’s 33,840 points. Read more »

Rupee depreciates by 61 paisas in interbank

KARACHI: The Pak Rupee ended down by 61 paisas on Thursday owing to demand for import and corporate payments. Read more »

Preventive officer awarded dismissal from service for misconduct

ISLAMABAD: Federal Board of Revenue (FBR) has awarded major penalty of ‘dismissal from service’ upon Hassan Ashraf, preventive officer, posted at Model Customs Collectorate of Preventive, Karachi on the charges of misconduct. Read more »

FBR probes concealment in land, immovable property purchases

ISLAMABAD: Federal Board of Revenue (FBR) has obtained data of land and immovable property transactions from provincial registrar offices and started proceedings against those who concealed the actual amount to purchase the... Read more »

FBR proposes reducing retaining period of imported plant, machinery by export units for disposal at zero percent duty, taxes

ISLAMABAD: Federal Board of Revenue (FBR) has proposed to relax the condition of disposal of plant and machinery by export units at zero percent of duty and taxes to five years as... Read more »