Jul 16

Share market gains 14 points amid high volume

KARACHI: The stock market gained a nominal 14 points on Tuesday amid high volume trading, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,972 points as against 32,958 points showing an increase of 14 points. Analysts at Arif Habib Limited said that the market volumes finally breached the anemic 40 […]

by Mrs. Anjum Shahnawaz

Jul 16

Money & Banking

Rupee ends 160.06 against dollar

KARACHI: The Pak Rupee ended down by 19 paisas against dollar on Tuesday amid money policy announcement and higher demand for import and corporate payments. The rupee ended Rs160.06 to the dollar from previous day’s closing of Rs159.87 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs160.25 and […]

by Mrs. Anjum Shahnawaz

SBP increases key policy rate by 100bps to 13.25 percent

Jul 16

Money & Banking

SBP increases key policy rate by 100bps to 13.25 percent

KARACHI: The State Bank of Pakistan (SBP) on Tuesday increased key policy rate by 100 basis points to 13.25 percent for next two months. The policy rate was announced by SBP governor Reza Baqir at a press conference here on Tuesday. The governor said that the monetary policy is announced in the month of July. […]

by Mrs. Anjum Shahnawaz

Sindh notifies new motor vehicle tax rates

Jul 16

Taxation

Sindh notifies new motor vehicle tax rates

KARACHI: The Sindh government has notified new rates of motor vehicle tax effective from July 01, 2019 amendment through Provincial Finance Act, 2019 for the year 2019/2020. The provincial government increased the rate of tax for higher engine capacity motor vehicles to Rs150,000 and Rs75,000. Further rates are modified in following manner: 1. (a) (i) […]

by Mrs. Anjum Shahnawaz

Rupee falls to Rs160.91 to dollar in interbank early trade

Jul 16

Money & Banking

Rupee falls to Rs160.91 to dollar in interbank early trade

KARACHI: The Pak Rupee deteriorated by another Rs1.04 in early trade on Tuesday ahead of monetary policy announcement and pressure of import and corporate payments. The dollar is being traded at Rs160.91 in interbank foreign exchange market. The rupee closed yesterday at Rs159.87 to the dollar in foreign currency market. Currency experts said that due […]

by Mrs. Anjum Shahnawaz

FBR reshuffles BS-16 officials in Customs intelligence and investigation

Jul 16

Pakistan Customs, Taxation

FBR reshuffles BS-16 officials in Customs intelligence and investigation

ISLAMABAD: Federal Board of Revenue (FBR) on July 15, 2019 notified transfers and postings of following BS-16 officials of Customs Department with immediate effect and until further orders. 01. Fareed-ud-Din Masood, Superintendent from Directorate of Intelligence & Investigation-Customs, Hyderabad to Model Customs Collectorate (MCC) Hyderabad. 02. Muhammad Akhtar, Intelligence Officer from Dte. of Intelligence & […]

by Mrs. Anjum Shahnawaz

FBR seeks power companies help for mandatory registration of businesses

Jul 16

Taxation

FBR seeks power companies help for mandatory registration of businesses

ISLAMABAD: Federal Board of Revenue (FBR) has sought help of ministry of power for invoking Section 181AA of Income Tax Ordinance, 2001 whereby it is mandatory for a businessman to get registered and file income tax return while requesting industrial or commercial connection. Chairman Federal Board of Revenue Syed Muhammad Shabbar Zaidi in his letter […]

by Mrs. Anjum Shahnawaz