Payment for transactions above Rs50,000 must be made through crossed cheque

KARACHI: Federal Board of Revenue (FBR) has made it mandatory for buyers to make payment above Rs50,000 through crossed cheque or banking instruments ensuring transfer of payment to seller’s account. The FBR issued Sales Tax Act, 1990 updated till June 30, 2019 incorporating amendments brought through Finance Act, 2019. Under Section 73 of the Act, […]

by Mrs. Anjum Shahnawaz

Zong partners with Enfrashare to expand 4G network

Oct 14

IT & Telecom

Zong partners with Enfrashare to expand 4G network

KARACHI: Zong 4G, Pakistan’s leading telecommunication network, has entered into a strategic partnership with Enfrashare Private Limited, a leading connectivity infrastructure provider. The partnership will support Zong 4G’s expansion of its largest 4G network of country to provide better coverage and an unrivaled subscriber experience, said a statement on Monday. With more than 12,000 4G […]

by Mrs. Anjum Shahnawaz

Provisional release of offended imported goods

Oct 14

Pakistan Customs

Provisional release of offended imported goods

KARACHI: The collector of customs has been empowered to allow provisional release of imported goods, on which any offence is detected, against duty and payment and submission of bank guarantee for penalty amount. The Federal Board of Revenue (FBR) issued Customs Act, 1969 updated till June 30, 2019 incorporating the changes brought through Finance Act, […]

by Mrs. Anjum Shahnawaz

Stock market ends down by 289 points amid narrow band trading

Oct 14

Stock & Commodity

Stock market ends down by 289 points amid narrow band trading

KARACHI: The stock market ended down by 289 points on Monday as market traded in narrow band. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,186 points as against 34,476 points showing a decline of 289 points. Analysts at Arif Habib Limited said that index was traded in a narrow band for […]

by Mrs. Anjum Shahnawaz

Oct 14

Money & Banking

Rupee ends firmer in interbank

KARACHI: The Pak Rupee ended firmer against dollar on Monday owing to lackluster demand after significant decline in trade deficit and current account deficit of the country. The rupee ended at Rs156.08 to the dollar from last Friday’s closing of Rs156.07 in interbank foreign exchange market. Currency dealers said that the rupee had maintained levels […]

by Mrs. Anjum Shahnawaz