Aug 28

Stock market gains 53 points amid selling pressure

KARACHI: The stock exchange gained 53 points on Wednesday after selling pressure eroded earlier day gain of over 500 points. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,638 points as against 30,585 points showing an increase of 53 points. Analysts at Arif Habib Limited said that in a diametrically opposite fashion, […]

by Mrs. Anjum Shahnawaz

Rupee eases by three paisas on dollar demand

Aug 28

Money & Banking

Rupee eases by three paisas on dollar demand

KARACHI: The Pak Rupee eased by three paisas against dollar on Wednesday owing to rise in demand for import payments. The rupee ended at Rs157.29 to the dollar from previous day’s closing of Rs157.26 in interbank foreign exchange market. Currency experts said that the dollar demand was remained higher during the day. However, the local […]

by Mrs. Anjum Shahnawaz

FBR notifies transfers, postings of IR Chief Commissioners

Aug 28

Taxation

FBR notifies transfers, postings of IR Chief Commissioners

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday notified transfers and postings of Chief Commissioners Inland Revenue (CCIR) with immediate effect and until further orders. The FBR notifies transfers and postings of following CCIR of BS-20-21 Inland Revenue Service (IRS): 01. Nazir Ahmad Shoro (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner […]

by Mrs. Anjum Shahnawaz

NBP declares 11.12pc decline in after tax profit to Rs11.1 billion

Aug 28

Corporate, Money & Banking

NBP declares 11.12pc decline in after tax profit to Rs11.1 billion

KARACHI: National Bank of Pakistan (NBP) on Wednesday declared decline in net profit by 11.12 percent to Rs11.1 billion for the first half ended June 30, 2019. According to financial results for the half yearly ended June 30, 2019 submitted to Pakistan Stock Exchange (PSX), the bank declared after tax profit of Rs11.101 billion as […]

by Mrs. Anjum Shahnawaz

CNIC condition on purchases remain part of law, deferred till September: FBR chairman

Aug 28

Taxation

CNIC condition on purchases remain part of law, deferred till September: FBR chairman

KARACHI: The chairman of Federal Board of Revenue (FBR), Shabbar Ziaid on Wednesday said that condition of providing Computerized National Identity Card (CNIC) on purchase of above Rs50,000 is remain part of law. “However, its application has been deferred till September 30,” he said at an event organized by Management Association of Pakistan (MAP). He […]

by Mrs. Anjum Shahnawaz

Access to information made free for citizens

Aug 27

National

Access to information made free for citizens

In a significant move aimed at enhancing transparency and facilitating citizens’ access to information, the federal government has declared the first 10 pages of requested information under the Access to Information Act, 2017 to be provided free of cost.

by Mrs. Anjum Shahnawaz

FBR launches software to monitor sales tax returns

Aug 27

Taxation

FBR launches software to monitor sales tax returns

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday launched a software to monitor sales tax returns. Chairman Federal Board of Revenue Syed Muhammad Shabbar Zaidi has inaugurated the new software called Centralized Sales Tax & FED Assessment & Processing (CSTAP) to effectively monitor the sales tax returns. This software is inaugurated at FBR Headquarters which […]

by Mrs. Anjum Shahnawaz

Fiscal deficit balloons to record 8.9 percent in 2018/2019

Aug 27

Finance

Fiscal deficit balloons to record 8.9 percent in 2018/2019

KARACHI: The fiscal deficit of the country has increased to record level of 8.9 percent in fiscal year 2018/2019, according to statistics released by the federal finance ministry on Tuesday. Analysts Topline Securities said that the government had reported fourth quarter of fiscal year 2018/2019 fiscal deficit of 3.9 percent of GDP, taking full year […]

by Mrs. Anjum Shahnawaz

Yarn merchants demand restoration of 1pc withholding tax for textile value chain

Aug 27

Trade & Industry

Yarn merchants demand restoration of 1pc withholding tax for textile value chain

KARACHI: Pakistan Yarn Merchants Association (PYMA) has demanded the Federal Board of Revenue (FBR) to restore one percent advance income tax for textile value chain. In a statement on Tuesday, Muhammad Saqib Goodluck Chairman, PYMA (Sind & Baluchistan Zone) strongly protested over imposition of 4 percent withholding tax instead of 1 percent requested to withdraw […]

by Mrs. Anjum Shahnawaz

KSE-100 gains 64 points amid mixed trading

Aug 27

Stock & Commodity

KSE-100 gains 64 points amid mixed trading

KARACHI: The stock market ended with gain of 64 points on Tuesday after mixed trading activities on Pakistan Stock Exchange (PSX). The benchmark KSE-100 index of PSX closed at 30,585 points as against 30,521 points showing an increase of 64 points. Analysts at Arif Habib Limited said that the market today went down by 568 […]

by Mrs. Anjum Shahnawaz