Nov 25

SBP enhances limit to $5,000 for pension transactions under home remittance services

KARACHI: State Bank of Pakistan (SBP) on Monday enhanced the limit of pension transactions up to $5,000 per month under home remittance services. According to a circular issued by the SBP the transactions limits by individuals under various categories had been enhanced to $5,000 per month from $1,500 per month. The limits have been enhanced […]

by Mrs. Anjum Shahnawaz

FBR further extends sales tax return filing up to Nov 29

Nov 25

Taxation

FBR further extends sales tax return filing up to Nov 29

ISLAMABAD: Federal Board of Revenue (FBR) on Monday further extended the last date for filing sales tax return for the month of October up to November 29, 2019. The FBR issued a notification for extension in date of submission of sales tax and federal excise return for the tax period of October 2019. The FBR […]

by Mrs. Anjum Shahnawaz

Stock market gains 287 points on buying activities

Nov 25

Stock & Commodity

Stock market gains 287 points on buying activities

KARACHI: The stock market gained 287 points on Monday as buying activities seen during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,212 points as against 37,926 points showing an increase of 287 points. Analysts at Arif Habib Limited said that the market was initially expected to face selling pressure […]

by Mrs. Anjum Shahnawaz

Rupee recovers early day losses; sheds two paisas

Nov 25

Money & Banking

Rupee recovers early day losses; sheds two paisas

KARACHI: The Pak Rupee recovered early day losses against dollar and depreciated by two paisas on Monday. The rupee fell owing to higher demand for import payment. The rupee ended Rs155.31 to the dollar from last Friday’s closing of Rs155.29 in interbank foreign exchange market. The rupee depreciated by 20 paisas during early day trading […]

by Mrs. Anjum Shahnawaz

US companies reluctant to visit Pakistan: USDA counselor

Nov 25

Trade & Industry

US companies reluctant to visit Pakistan: USDA counselor

KARACHI: Rey Santella, Agricultural Counselor of United States Department of Agriculture (USDA) has said although they were inviting the US business community but many of them were still reluctant to visit Pakistan mainly due to negative perception and also because of legal and Information Technology related hurdles that need to be addressed. While speaking at […]

by Mrs. Anjum Shahnawaz

Nov 25

Corporate, Energy

OGDCL clarifies shale gas discovery

The Oil and Gas Development Company Limited (OGDCL) issued a clarification on Monday, refuting media reports that suggested a massive discovery of shale gas in Sindh.

by Mrs. Anjum Shahnawaz

Procedure to check active taxpayer status

Nov 25

Taxation

Procedure to check active taxpayer status

ISLAMABAD: Appearance of a taxpayer in Active Taxpayers List (ATL) has become very important to avail benefit of reduced withholding income tax rate. The ATL has become even more important after the inclusion of 10th Schedule to Income Tax Ordinance, 2001 through Finance Act, 2019 under which a person, who is not part of the […]

by Mrs. Anjum Shahnawaz

Rupee falls by 16 paisas against dollar in early trade

Nov 25

Money & Banking

Rupee falls by 16 paisas against dollar in early trade

KARACHI: The Pak Rupee fell 16 paisas against dollar in early trade on Monday owing to demand for import payments as market opened after two day weekly holidays. The exchange rate is at Rs155.45 to the dollar in interbank foreign exchange market in the early trade. The market was closed on last Friday at Rs155.29 […]

by Mrs. Anjum Shahnawaz

NBP makes progress in regulatory compliance for US operations

Nov 25

Money & Banking

NBP makes progress in regulatory compliance for US operations

KARACHI: National Bank of Pakistan (NBP) has made significant progress in compliance with regulatory matters in USA operations. In its financial report for quarter ended September 30, 2019, the bank said that in 2016 its New York branch entered into a written agreement with the Federal Reserve Bank of New York and New York State […]

by Mrs. Anjum Shahnawaz