Ufone, SCO sign bilateral roaming service agreement

Oct 10

IT & Telecom

Ufone, SCO sign bilateral roaming service agreement

ISLAMABAD: Special Communications Organization (SCO), the largest Integrated Telecom Service Provider in Azad Jammu & Kashmir (AJ&K) and Gilgit-Baltistan (GB) and Ufone have signed a Bilateral Roaming Services Agreement at PTCL headquarters, Islamabad. The ceremony was attended by Major General Amir Azeem Bajwa (Retired) HI (M), Chairman PTA; Major General Ali Farhan HI (M), Director […]

by Mrs. Anjum Shahnawaz

FBR makes mandatory for big retail chains to share real-time sales data from December 01

Oct 10

Taxation

FBR makes mandatory for big retail chains to share real-time sales data from December 01

ISLAMABAD: The big retail chains in the country will share their sales data with the Federal Board of Revenue (FBR) on real-time basis from December 01, 2019. In order to implement the decision the FBR issued SRO 1203(I)/2019 on Thursday to make amendments in Sales Tax Rules, 2006. The revenue body notified mandatory integration of […]

by Mrs. Anjum Shahnawaz

Financial institutions report 219 suspicious transactions since AML/CFT regulatory framework launch: SECP

Oct 10

Finance

Financial institutions report 219 suspicious transactions since AML/CFT regulatory framework launch: SECP

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has said around 219 Suspicious Transactions Reports (STRs) have been generated by financial institutions since launch of its Anti-Money Laundering (AML)/Counter Financing Terrorism (CFT) regulatory framework. The SECP in a statement on Thursday said that its risk based approach for effective implementation of AML/CFT regulatory framework […]

by Mrs. Anjum Shahnawaz

Pakistan’s foreign exchange reserves at $14.993 billion

Oct 10

Finance

Pakistan’s foreign exchange reserves at $14.993 billion

KARACHI: The total liquid foreign exchange reserves of Pakistan declined nominally by $11 million to $14.993 billion by week ended October 04, 2019 as compared with $15.003 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The reserves held by SBP increased by $16 million to $7.757 billion by week ended October […]

by Mrs. Anjum Shahnawaz

Stock market gains over 500 points on improved trading activities

Oct 10

Stock & Commodity

Stock market gains over 500 points on improved trading activities

KARACHI: The stock market gained over 500 points on Thursday on across the board trading activity witnessed in the market. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,028 points as against 33,524 points showing an increase of 504 points.Analysts at Arif Habib Limited said that the market rebounded today with a […]

by Mrs. Anjum Shahnawaz

Overseas Pakistanis remit $5.478 billion in July – September

Oct 10

Finance

Overseas Pakistanis remit $5.478 billion in July – September

KARACHI: The overseas workers have sent $5.478 billion during first quarter (July – September) of current fiscal year, which is 1.43 percent down when compared with $5.557 billion in the corresponding period of the last fiscal year, according to data released by State Bank of Pakistan (SBP) on Thursday. However, inflows of workers’ remittances witnessed […]

by Mrs. Anjum Shahnawaz

Rupee gains 14 paisas on improved sentiments

Oct 10

Money & Banking

Rupee gains 14 paisas on improved sentiments

KARACHI: The rupee gained 14 paisas against dollar on Thursday owing to improved economic sentiments. The rupee ended Rs156.18 to the dollar from previous day’s closing of Rs156.32 in interbank foreign exchange market. Currency dealers said that the successful visit of the prime minister to China helped confidence building in the market. Besides, inflows of […]

by Mrs. Anjum Shahnawaz

Pakistan’s oil, gas reserves witness increase

Oct 10

Energy

Pakistan’s oil, gas reserves witness increase

KARACHI: Pakistan’s oil and gas reserves have witnessed increase by 7 percent and 1.4 percent, respectively, according to analysts at Topline Research. The analysts on Thursday said that Pakistan Petroleum Information Services (PPIS) had reported oil and gas reserves for Jun 2019, whereby few major fields of Tal block (operated by MOL Pakistan) have witnessed […]

by Mrs. Anjum Shahnawaz

Account holders with Rs10 million deposits on FBR’s radar

Oct 10

Taxation

Account holders with Rs10 million deposits on FBR’s radar

KARACHI: Bank account holders making aggregate deposits of Rs10 million in a month are on radar of Federal Board of Revenue (FBR) for the purpose of broadening of tax base and identifying concealed incomes. Federal Board of Revenue (FBR) has said that banks are required to provide details of account holders having aggregate deposits of […]

by Mrs. Anjum Shahnawaz

Tax evading manufacturers, commercial importers supporting traders’ protest

Oct 10

Taxation

Tax evading manufacturers, commercial importers supporting traders’ protest

ISLAMABAD: A large segment of tax evaders in manufacturing sector and commercial importers are behind the traders’ protest in order to force tax authorities to withdraw condition of computerized national identity card (CNIC). The condition of CNIC has been introduced in order to identify persons in supply chain and plug leakages of revenue from manufacturing […]

by Mrs. Anjum Shahnawaz