Nov 7

Stock market gains 105 points in narrow range trading

KARACHI: The stock market increased by 105 points on Thursday in a narrow band trading activities. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,758 points as against 35,6553 points showing an increase of 105 points. Analysts at Arif Habib Limited said that the market traded in a narrow range between -195 […]

by Mrs. Anjum Shahnawaz

Rupee gains four paisas against dollar on export receipts

Nov 7

Money & Banking

Rupee gains four paisas against dollar on export receipts

KARACHI: The Pak Rupee maintained its gain against dollar on Thursday and further appreciated by four paisas in interbank foreign exchange market. The rupee ended Rs155.55 to the dollar from previous day’s closing of Rs155.59 in interbank foreign exchange market. Currency experts said that the lower demand for import payments and inflows of export receipts […]

by Mrs. Anjum Shahnawaz

FBR assigns additional charge of International Tax Operations to IRS officers

Nov 7

Taxation

FBR assigns additional charge of International Tax Operations to IRS officers

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday assigned additional charge to the officers of Inland Revenue Service (IRS) posted at Automatic Exchange of Information (AEOI) Zones of the post at International Tax Operation. The following officers of IRS BS-17-20 are assigned the additional charge of the posts mentioned against each with immediate effect and […]

by Mrs. Anjum Shahnawaz

FBR allows raids against unregistered manufacturers, suppliers

Nov 7

Taxation

FBR allows raids against unregistered manufacturers, suppliers

ISLAMABAD: Federal Board of Revenue (FBR) has given go ahead to directorate of intelligence and investigation for conducting raids against manufacturers and suppliers not registered under sales tax laws. In this regard the Directorate of Intelligence and Investigation, Inland Revenue carried out raids against three unregistered units in Gujranwala, said a statement issued by Federal […]

by Mrs. Anjum Shahnawaz

Import of used vehicles: changes to payment of duty, taxes approved

Nov 7

Automotive, Pakistan Customs

Import of used vehicles: changes to payment of duty, taxes approved

ISLAMABAD: The government has approved changes to payment of duty and taxes system for clearance of used vehicles, which are allowed to import under three different schemes. The Economic Coordination Committee (ECC) of the Cabinet on Wednesday on a proposal by the Commerce Division, took up the import of used vehicles under personal baggage, transfer […]

by Mrs. Anjum Shahnawaz

SECP introduces concept of trading only brokers for expanding investor base

Nov 7

Stock & Commodity

SECP introduces concept of trading only brokers for expanding investor base

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has introduced a concept of trading only brokers for expanding investor base at the capital market. In the proposed regime, to provide maximum facilitation to small sized brokers, which would be categorized as trading only brokers and shall not retain custody of client assets, the minimum capital […]

by Mrs. Anjum Shahnawaz

Headline inflation increases by 11 percent in October

Nov 6

Finance

Headline inflation increases by 11 percent in October

ISLAMABAD: The headline inflation based on Consumer Price Index (CPI) has increased by 11 percent in October 2019 while calculating on the base year 2015-2016. According to inflation data released by Pakistan Bureau of Statistics (PBS) on Wednesday, the inflation general increased by 11.0 percent on year-on-year basis in October 2019 as compared to an […]

by Mrs. Anjum Shahnawaz

Stock market gains 295 points in mixed trading activities

Nov 6

Stock & Commodity

Stock market gains 295 points in mixed trading activities

KARACHI: The stock market gained 295 points on Wednesday in mixed trading activities. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,653 points as against 35,358 points showing an increase of +295 points. Analysts at Arif Habib Limited said that the market showed early signs of resistance today, where the index increased […]

by Mrs. Anjum Shahnawaz

Nov 6

Money & Banking

Rupee gains six paisas on inflows

KARACHI: The Pak Rupee gained six paisas against dollar on Wednesday owing to inflows of workers’ remittances and exports receipts, dealers said. The rupee ended Rs155.59 to the dollar from previous day’s closing of Rs155.64 in interbank foreign exchange market. Currency experts said that the local unit gained values on back of remittances and export […]

by Mrs. Anjum Shahnawaz

Investment in premium prize bonds surges by 157 percent

Nov 6

Finance

Investment in premium prize bonds surges by 157 percent

KARACHI: The investment in premium prize bonds of Rs40,000 denomination has witnessed unprecedented growth of 157 percent after the government announcement to discontinue bearer prize bonds of same denomination. According to official documents, the investment in premium prize bonds of Rs40,000 denomination surged by 157 percent to Rs15.86 billion by September 2019 as compared with […]

by Mrs. Anjum Shahnawaz