Hajj, Umrah: Saudi Arabia advises biometric confirmation locally

Sep 24

National

Hajj, Umrah: Saudi Arabia advises biometric confirmation locally

KARACHI: The ministry of Hajj and Umrah of Saudi Arabia has issued instructions for pilgrims in countries with Biometric enrollment centres for Hajj & Umrah must consider completing the mandatory biometric registration locally after obtaining Hajj or Umrah visa. The ministry said that registering biometric information before arriving at the entry ports of the Kingdom […]

by Mrs. Anjum Shahnawaz

FPCCI recommends dedicated accounts to stop fraud in sales tax refunds

Sep 24

Trade & Industry

FPCCI recommends dedicated accounts to stop fraud in sales tax refunds

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recommended dedicated accounts for prevent fraud in sales tax refunds. Engr. Daroo Khan Achakzai, President, FPCCI while commenting on SRO 981(I)/2019 of dated August 07, 2019 with special reference to Chapter V-A said that there is need of dedicated Head of Accounts sector-wise for […]

by Mrs. Anjum Shahnawaz

Stock market gains 78 points in narrow band trade

Sep 24

Stock & Commodity

Stock market gains 78 points in narrow band trade

KARACHI: The stock market gained 78 points on Tuesday as benchmark index was remained traded in a narrow band. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,829 points as against 31,751 points showing an increase of 78 points. Analysts at Arif Habib said that the KSE-100 index continued trading in a […]

by Mrs. Anjum Shahnawaz

Rupee gains one paisa amid dollar demand for import payment

Sep 24

Money & Banking

Rupee gains one paisa amid dollar demand for import payment

KARACHI: The Pak Rupee gained one paisa against dollar on Tuesday amid demand for import and corporate payments. The rupee ended Rs156.16 to the dollar from previous day’s closing of Rs156.17 in interbank foreign exchange market. Currency dealers said that the supply of remittances and export receipts helped the rupee to gain earlier in the […]

by Mrs. Anjum Shahnawaz

Pakistan imports mobile phones worth Rs26 billion; up 52.4pc in July – August

Sep 23

IT & Telecom

Pakistan imports mobile phones worth Rs26 billion; up 52.4pc in July – August

KARACHI: Pakistan has imported mobile phones worth Rs26 billion during first two months of current fiscal year, which is 52.4 percent higher when compared with Rs16.98 billion in the same period of the last fiscal year. The higher import of mobile phones can be attributed to massive depreciation of Pak Rupee during the comparative year […]

by Mrs. Anjum Shahnawaz

SRB suspends sales tax registration of Wateen Telecom

Sep 23

IT & Telecom, Taxation

SRB suspends sales tax registration of Wateen Telecom

KARACHI: Sindh Revenue Board (SRB) has suspended the sales tax registration of Wateen Telecom Limited for failure to deposit the tax to the provincial kitty. In a notice for suspension of registration of Wateen Telecom Limited on Monday, the SRB said that scrutiny of tax profile of the company revealed that it had failed to […]

by Mrs. Anjum Shahnawaz

Sep 23

Stock & Commodity

Stock market ends down by 360 points

KARACHI: The stock market ended down by 360 points on Monday owing to negative sentiments in oil and gas sector. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,751 points as against 32,111 points showing a decline of 360 points. Analysts at Arif Habib Limited said that the start of the rollover […]

by Mrs. Anjum Shahnawaz

Rupee falls by nine paisas on higher demand for import payment

Sep 23

Money & Banking

Rupee falls by nine paisas on higher demand for import payment

KARACHI: The Pak Rupee fell by nine paisas against dollar on Monday owing to higher demand for import and corporate payments after weekly holidays. The rupee ended Rs156.17 to the dollar from last Friday’s close of Rs156.08 in interbank foreign exchange market. Currency dealers said that the demand for import and corporate payment was high […]

by Mrs. Anjum Shahnawaz

Car imports fall sharply by 85 percent in first two months

Sep 23

Finance

Car imports fall sharply by 85 percent in first two months

KARACHI: The car imports in Pakistan have sharply fell by 85 percent during first two months of current fiscal year owing to payment restriction imposed for customs clearance.

by Mrs. Anjum Shahnawaz

Late return filers may get ATL status after payment of surcharge

Sep 23

Taxation

Late return filers may get ATL status after payment of surcharge

ISLAMABAD: Persons, who fail to file their income tax return by due date, may be included into the Active Taxpayers List (ATL) after payment of surcharge. Inclusion in ATL is mandatory to avail reduced rate of withholding tax. Through Finance Act, 2019 the rates of withholding tax have been increased 100 percent for those persons […]

by Mrs. Anjum Shahnawaz