KARACHI: The stock market likely to stay positive during next week but there are chances of profit taking, analysts said. Analysts at Arif Habib Limited said that the market to remain positive in the coming week. However profit-taking cannot be ruled out. Major developments next week include PM Khan’s visit to China aimed at reviving […]
ISLAMABAD: The ministry of commerce has said that ban on trade with India will not apply on the shipment of documents related to personal or ministries. The ministry issued a clarification in this regard through an office memorandum dated October 03, 2019, stated that the bilateral trade with India was suspended through SROs 927 and […]
ISLAMABAD: Federal Board of Revenue (FBR) on Friday in a major reshuffle transferred and posted 35 officers of Pakistan Customs Service (PCS) from BS-17 to BS-21 with immediate effect and until further orders. Following officers of Pakistan Customs Service (PCS) have been transferred: 01. Abdul Rashid Sheikh (Pakistan Customs Service/BS-21) has been transferred and posted […]
ISLAMABAD: Federal Board of Revenue (FBR) has warned sellers against using CNIC/NTN of their employees to fulfill condition in case supplies made to unregistered persons. The FBR on Friday issued Sales Tax General Order (STGO) No. 106/2019 regarding definition / rules for CNIC/ good faith for sales tax. Keeping in view the problems reported by […]
KARACHI: The Pak Rupee depreciated by 18 paisas against dollar on Friday owing to higher demand for import and corporate payments. The rupee ended Rs156.54 to the dollar from previous day’s closing of Rs156.36 in interbank foreign exchange market. Currency dealers said that the market witnessed higher demand for import and corporate payments due to […]
KARACHI: The stock market gained 281 points on Friday owing to buying activities seen in various sectors. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,033 points as against 32,752 points showing an increase of 281 points. Analysts at Arif Habib Limited said that buying activity was mainly seen in Cement and […]
KARACHI: State Bank of Pakistan (SBP) has imposed penalty to the tune of Rs1,123 million during first quarter (July – September) of current fiscal year 2019/2020 for violating rules and regulations. The SBP has taken penal action against three banks for violating procedures in the areas of Know Your Customer (KYC) and Customers Due Diligence […]
ISLAMABAD: Federal Board of Revenue (FBR) has imposed major penalty of ‘compulsory retirement’ upon a senior auditor for obtaining citizenship of another country and for visiting abroad by concealing facts of his government job. The FBR on Friday said that the inquiry proceedings were initiated against Tahir Gul, Senior Auditor (BS-16), RTO Islamabad on the […]
KARACHI: Federal Board of Revenue (FBR) has issued computation of taxable income for the tax year 2020 (July 01, 2019 to June 30, 2020). The FBR issued Income Tax Ordinance, 2001 updated till June 30, 2019 under which the computation of taxable income for tax year 2020 has also been updated. According to Section 09 […]
KARACHI: Pakistan’s total foreign exchange reserves declined by $769 million to $15 billion by week ended September 27, 2019, State Bank of Pakistan (SBP) said on Thursday. The total foreign exchange reserves of Pakistan declined by $768.9 million to $15.003 billion by week ended September 27, 2019 as compared with $15.772 billion a week ago. […]