Jan 8

Exporters missing shipping deadline due to strike

KARACHI: All Pakistan Textile Mills Association (APTMA) on Wednesday said exporters are missing shipment deadline due to transporters’ strike. The APTMA in a statement said that the recent strike by the transport sector is going to impact exports significantly as there are no empty containers are available in upcountry for exports. APTMA spokesman said that […]

by Mrs. Anjum Shahnawaz

Stock market declines by 547 pts on Iran attack on US bases

Jan 8

Stock & Commodity

Stock market declines by 547 pts on Iran attack on US bases

KARACHI: The stock market fell by 547 points on Wednesday following Iran attack on US bases in Iraq. The benchmark KSE-100 index closed at 41,358 points as against 41,904 points showing a decline of 547 points. Analysts at Arif Habib Limited said that market took the toll of early morning Iranian strike on Iraqi Military […]

by Mrs. Anjum Shahnawaz

Rupee falls by seven paisas on import, corporate demand

Jan 8

Money & Banking

Rupee falls by seven paisas on import, corporate demand

KARACHI: The Pak Rupee further depreciated by seven paisas against dollar on Wednesday owing to higher import and corporate demands, dealers said. The rupee ended Rs155.08 to the dollar as compared with last day’s closing of Rs155.01 in interbank foreign exchange market. The rupee depreciated around 18 paisas in three trading days of the current […]

by Mrs. Anjum Shahnawaz

FPCCI, KCCI sit together after long time

Jan 8

Trade & Industry

FPCCI, KCCI sit together after long time

KARACHI: Members of Pakistan Federation of Chambers and Commerce and Industry (FPCCI) and Karachi Chamber of Commerce and Industry (KCCI) on Wednesday sit together after defeat of SM Muneer led group in the recent elections of FPCCI. Siraj Kassem Teli, Chairman of Businessmen Group (BMG) along with office bearers of KCCI visited FPCCI on the […]

by Mrs. Anjum Shahnawaz

Amended payment procedure for imported vehicles issued

Jan 8

Pakistan Customs

Amended payment procedure for imported vehicles issued

ISLAMABAD: The ministry of commerce has issued notification to implement amendment payment procedure for customs clearance of imported motor vehicles. The ministry issued SRO 1625(I)/2019 dated December 30, 2019 to amend Import Policy Order, 2016. As per amendment: “Provided that in case the Pak Rupee depreciates or government increases the import duties or taxes after […]

by Mrs. Anjum Shahnawaz

SECP drafts framework to facilitate startups in Pakistan

Jan 8

Finance

SECP drafts framework to facilitate startups in Pakistan

ISLAMABAD: Securities and Exchange Company of Pakistan (SEC Pakistan) has issued draft regulatory framework to facilitate startups in the country. The SECP said that with the objective to promote growth in the startups sector of Pakistan, it is necessary to make relevant changes in Company Law to facilitate the incorporation process for the startups and […]

by Faisal Shahnawaz

Up to 75% capital gain tax exempt on immovable property sale

Jan 8

Taxation

Up to 75% capital gain tax exempt on immovable property sale

KARACHI: The government has exempted capital gain tax up to 75 percent in case an immovable property sold by government employees of army personnel after completion of three years. According to BDO Audit Consultancy Firm, Clause (9A) of Part III of Second Schedule provides a 50 percent exemption on capital gain derived on first sale […]

by Mrs. Anjum Shahnawaz

Jan 8

Budget 2020-2021

Federal budget 2020/2021 tentative schedule issued for May

ISLAMABAD: The government is planning to present federal budget 2020/2021 in the cabinet and the parliament in the month of May this year. The finance ministry on Wednesday issued budget call circular for the schedule of budget making process and its presentation in the parliament. The finance ministry has given tentative schedule of presenting the […]

by Mrs. Anjum Shahnawaz

100% tax exemption allowed on inter-corporate dividend

Jan 7

Taxation

100% tax exemption allowed on inter-corporate dividend

KARACHI: The government has allowed 100 percent exemption on inter-corporate dividend to companies entitled to group relief. Analysts at Topline Securities on Tuesday said that as per the Tax Laws (Second Amendment) Ordinance 2019 issued on Dec 28th, the government has allowed 100% tax exemption on inter-corporate dividends, to companies entitled to group relief. To […]

by Mrs. Anjum Shahnawaz

Jan 7

Stock & Commodity

Equity market recovers 608 points

KARACHI: The equity market recovered 608 points on Tuesday in the aftermath of US-Iran confrontation and developing geopolitical situation. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,904 points as against 41,296 points showing an increase of 608 points. Analysts at Arif Habib Limited said that in the aftermath of US-Iran confrontation […]

by Mrs. Anjum Shahnawaz