Dec 3

OICCI releases key findings of IPR survey 2019

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) on Tuesday announced the key findings of its latest Intellectual Property Rights (IPR) Survey 2019. The OICCI 2019 IPR survey highlighted that IPR protection continues to be of high importance for the business community of Pakistan, whereas there is need for better appreciation of the importance […]

by Mrs. Anjum Shahnawaz

Dec 3

Money & Banking

Rupee gains four paisas in early trade

KARACHI: The Pak Rupee gained four paisas against dollar in early trade on Tuesday owing to improved economic conditions. The dollar is being traded at Rs155.25 to the dollar in interbank foreign exchange market. The rupee was at Rs155.29 to the dollar in last day closing. Currency experts said that latest credit rating by Moody’s […]

by Mrs. Anjum Shahnawaz

FBR chairman warns non-compliant immovable property, motor vehicle owners of penal action

Dec 3

Taxation

FBR chairman warns non-compliant immovable property, motor vehicle owners of penal action

ISLAMABAD: Syed Shabbar Zaidi, Chairman, Federal Board of Revenue (FBR) has warned of taking penal action against non-compliant persons own immovable properties and motor vehicles. The chairman in a tweet message on Monday urged taxpayers to avail extension in income tax return filing date up to December 16, 2019. He said that every person owning […]

by Mrs. Anjum Shahnawaz

Salary income to include all allowances for tax determination

Dec 3

Taxation

Salary income to include all allowances for tax determination

KARACHI: Federal Board of Revenue (FBR) has said that for determination of tax the salary income shall include the value of all perquisites, allowances and benefits received by employees. FBR officials said on Tuesday that the salaried persons should include all such income while filing their annual income tax returns, if their employers had not […]

by Mrs. Anjum Shahnawaz

Stock market gains sharply on Moody’s positive rating

Dec 2

Stock & Commodity

Stock market gains sharply on Moody’s positive rating

KARACHI: The stock exchange has registered significant gain of 837 points on Monday on upgrade of credit rating of Pakistan to stable from negative. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,124 points as against 39,287 points showing an increase of 837 points. Analysts at Arif Habib Limited said that the […]

by Mrs. Anjum Shahnawaz

Rupee ends down by five paisas on import, corporate payments

Dec 2

Money & Banking

Rupee ends down by five paisas on import, corporate payments

KARACHI: The Pak Rupee ended down by five paisas against dollar on Monday owing to high demand for import and corporate payments. The rupee closed at Rs155.29 to the dollar from last Friday’s closing of Rs155.24 in interbank foreign exchange market. Currency experts said that the market was initiated after two weekly holidays which escalated […]

by Mrs. Anjum Shahnawaz

Moody’s changes Pakistan’s rating to stable from negative

Dec 2

Finance

Moody’s changes Pakistan’s rating to stable from negative

SINGAPORE: Moody’s Investors Service on Monday affirmed Pakistan’s outlook rating to stable from negative. In a statement the Moody’s said that the change in outlook to stable is driven by Moody’s expectations that the balance of payments dynamics will continue to improve, supported by policy adjustments and currency flexibility. Such developments reduce external vulnerability risks, […]

by Mrs. Anjum Shahnawaz

Limits of US Dollars taking out of Pakistan

Dec 2

Money & Banking

Limits of US Dollars taking out of Pakistan

KARACHI: State Bank of Pakistan (SBP) has categorized age limits for taking out of Pakistan US Dollars or equivalent amount of foreign exchange. According to updated foreign exchange manual the SBP granted general permission to any person to take out of Pakistan US Dollars or equivalent thereof in other foreign currencies as per the following […]

by Mrs. Anjum Shahnawaz

Pakistan’s trade deficit narrows by 34.42pc in July – November

Dec 1

Finance

Pakistan’s trade deficit narrows by 34.42pc in July – November

ISLAMABAD: Pakistan’s trade deficit has narrowed by 34.42 percent during first five months (July – November) of current fiscal year owing to improvement in exports, said Abdul Razak Dawood, Adviser to Prime Minister of Pakistan for Commerce, Textile, Industry & Production and Investment, on Sunday. In a tweet message, he said that as a result […]

by Mrs. Anjum Shahnawaz

Locally manufactured two-, three electric wheelers proposed 1pc sales tax for seven years

Dec 1

Automotive

Locally manufactured two-, three electric wheelers proposed 1pc sales tax for seven years

ISLAMABAD: All two and three wheelers manufactured under Electric Vehicle Policy will sold at less than one percent sales tax for next seven years to bring the purchase price of EVs down, according to the policy. However, all two and three-wheeler EV’s imported shall be sold at one percent sales tax for the next five […]

by Mrs. Anjum Shahnawaz