Return filing must for persons own immovable property above 500 square yards or 1000CC vehicle: FBR

Jan 29

Taxation

Return filing must for persons own immovable property above 500 square yards or 1000CC vehicle: FBR

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday said that return filing is must for persons own immovable property above 500 square yards or 1000CC motor vehicles. The FBR in a statement said that as per Income Tax Ordinance, 2001 all those individuals who owned 500 square yards or 1000CC motor vehicles are required to […]

by Mrs. Anjum Shahnawaz

SECP proposes amendments to AML, CFT regulations to comply FATF recommendations

Jan 29

Stock & Commodity

SECP proposes amendments to AML, CFT regulations to comply FATF recommendations

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has proposed amendments to Anti Money Laundering and Countering Financing of Terrorism Regulations, 2018 as recommended by FATF. The SECP on Wednesday said that the amendments had been proposed to further strengthen SECP’s AML/CFT regime. The proposed amendments elaborate on the Risk Based Approach requiring regulated persons […]

by Mrs. Anjum Shahnawaz

Industry cannot survive at existing high policy rate: FPCCI

Jan 29

Trade & Industry

Industry cannot survive at existing high policy rate: FPCCI

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday criticized the central bank for maintaining high policy rate stance. FPCCI President Mian Anjum Nisar expressed serious concern over the SBP unchanged policy rate which is at the highest in the region and in this state of monetary economy industry cannot survive and […]

by Mrs. Anjum Shahnawaz

Stock market plunges by 400 points as policy rate disappoints investors

Jan 29

Stock & Commodity

Stock market plunges by 400 points as policy rate disappoints investors

KARACHI: The stock market plunged by 400 points on Wednesday as no reduction in policy rate by the central bank disappointed investors. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,899 points as against 42,299 points showing a decline of 400 points. Analysts at Arif Habib Limited said that following yesterday’s slide, […]

by Mrs. Anjum Shahnawaz

FBR urges return filing for tax broadening

Jan 29

Taxation

FBR urges return filing for tax broadening

ISLAMABAD: Federal Board of Revenue (FBR) has urged people to file their income tax returns for broadening of tax base. In a tweet on Wednesday, the FBR said that individuals having annual income above Rs400,000 are required to file their income tax returns for tax year 2019. The FBR urged that persons having taxable income […]

by Mrs. Anjum Shahnawaz

Rupee ends unchanged for third straight day

Jan 29

Money & Banking

Rupee ends unchanged for third straight day

KARACHI: The Pak Rupee ended remained unchanged for third consecutive day against the dollar on Wednesday owing to lackluster trading activities. The rupee ended Rs154.57 to the dollar, same previous day’s level, in interbank foreign exchange market. Currency dealers said that the rupee had maintained the levels as importers and corporate buyers were cautious. They […]

by Mrs. Anjum Shahnawaz

High policy rate stifles economic activity; dwindles profits, job cuts

Jan 29

Automotive

High policy rate stifles economic activity; dwindles profits, job cuts

KARACHI: High policy rate has stifled the economic activity, resulting in dwindled profits and job cuts, this was noted in the financial results of Honda Atlas Cars (Pakistan) Limited for the period of third quarter ended December 2019.

by Mrs. Anjum Shahnawaz

Import payments on open account allowed to facilitate commercial importers

Jan 29

Money & Banking

Import payments on open account allowed to facilitate commercial importers

KARACHI: State Bank of Pakistan (SBP) has allowed imports on open account for the import of raw materials and spare parts to facilitate small and medium manufacturing units and commercial importers. The SBP in a circular issued on Tuesday said that F.E. Circular No. 07 dated July 20, 2018 whereby imports on open account basis […]

by Mrs. Anjum Shahnawaz

Meezan Bank signs agreement for e-ticket payments

Jan 29

Money & Banking

Meezan Bank signs agreement for e-ticket payments

KARACHI: Meezan Bank, Pakistan’s leading Islamic bank has recently entered into a partnership with Bookme.pk – Pakistan’s first and largest online ticketing platform that helps customers buy bus, airline and event tickets online using the Bank’s state-of-the-art Internet & Mobile Banking channels. The partnership will enable the Bank’s customers to simply log on to their […]

by Mrs. Anjum Shahnawaz