Dec 4

Kuwait ready to ease visa policy for Pakistani businessmen

KARACHI: Salem Yousif Al-Hamdan, Consul General of Kuwait, has said that his government is ready to ease visa policy for Pakistani businessmen. In order further discuss and devise strategies for easing the issuance of business visas, the Kuwaiti Interior Ministry was ready to hold negotiations and in this regard, Pakistan’s Ministry of Interior had been […]

by Mrs. Anjum Shahnawaz

Stock market gains 482 points on buying activities

Dec 4

Stock & Commodity

Stock market gains 482 points on buying activities

The Pakistan Stock Exchange (PSX) witnessed a robust upward trend on Wednesday as the benchmark KSE-100 index soared by 482 points, closing at 40,271 points compared to 39,789 points the previous day.

by Mrs. Anjum Shahnawaz

Rupee continues to make gain on improved economic indicators

Dec 4

Money & Banking

Rupee continues to make gain on improved economic indicators

KARACHI: The Pak Rupee continued gains against dollar on Wednesday and further appreciated by five paisas on improved economic indicators. The rupee ended Rs155.14 to the dollar from previous day’s closing of Rs155.19 in interbank foreign exchange market. Currency experts said that the local unit had maintained the appreciation trend owing to back to back […]

by Mrs. Anjum Shahnawaz

Penalties for not filing, late filing income tax return, wealth statement

Dec 4

Taxation

Penalties for not filing, late filing income tax return, wealth statement

KARACHI: The tax laws have defined both soft and harsh penalties for persons having taxable income or registered with tax authorities but failed to file their annual returns or file their returns after the due date. According to Income Tax Ordinance, 2001 updated up to June 30, 2019 issued by the Federal Board of Revenue […]

by Mrs. Anjum Shahnawaz

Currency notes sent by post to Pakistan liable to confiscation

Dec 4

Money & Banking

Currency notes sent by post to Pakistan liable to confiscation

KARACHI: Sending currency notes and coins into Pakistan by post is illegal and liable to confiscation under updated Foreign Exchange Manual issued by State Bank of Pakistan (SBP). The SBP said that laws in force are prohibiting the bringing or sending into Pakistan from any place outside Pakistan, of Pakistan and foreign currency notes or […]

by Mrs. Anjum Shahnawaz

Hafeez Shaikh directs FBR to simplify Form-H within a week, expedite sales tax refund payment

Dec 3

Taxation

Hafeez Shaikh directs FBR to simplify Form-H within a week, expedite sales tax refund payment

ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue, on Tuesday directed Federal Board of Revenue (FBR) to simplify form-H within a week and expedite payment of sales tax refunds. He gave the instruction during a meeting with the office-bearers and members of All Pakistan Textile Mills Association (APTMA). Adviser […]

by Mrs. Anjum Shahnawaz

Pakistan to get Rs38bn from UK agency in Malik Riaz case

Dec 3

Finance

Pakistan to get Rs38bn from UK agency in Malik Riaz case

KARACHI: Pakistan will get around Rs38 billion (£190 million) after National Crime Agency (NCA) of the United Kingdom agreed settlement after frozen funds investigation into a case of Malik Riaz Hussain. According to a press release issued on Tuesday, the settlement includes a UK property valued at approximately £50 million. The National Crime Agency has […]

by Mrs. Anjum Shahnawaz

SBP welcomes Moody’s stable outlook on Pakistan

Dec 3

Finance

SBP welcomes Moody’s stable outlook on Pakistan

KARACHI: State Bank of Pakistan (SBP) on Tuesday welcomed Moody’s change in outlook on Pakistan from negative to stable.

by Mrs. Anjum Shahnawaz

Stock market ends down by 389 points on profit taking

Dec 3

Stock & Commodity

Stock market ends down by 389 points on profit taking

KARACHI: The stock market ended down by 389 points on Tuesday owing to profit taking after the market witnessed massive gains during past days. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,735 points as against 40,124 points showing a decline of 389 points. Analysts at Arif Habib Limited said that the […]

by Mrs. Anjum Shahnawaz

Rupee gains 10 paisas on inflows of export receipts

Dec 3

Money & Banking

Rupee gains 10 paisas on inflows of export receipts

KARACHI: The Pak Rupee gained 10 paisas against dollar on Tuesday owing to inflows of exports receipts and workers’ remittances, dealers said. The rupee ended at Rs155.19 to the dollar from previous day’s closing of Rs155.29 in interbank foreign exchange market. Currency dealers said that the inflows in shape of export receipts and workers’ remittances […]

by Mrs. Anjum Shahnawaz