Feb 6

Textile value added sector demands restoration of sales tax zero-rate regime

KARACHI: Exporters of textile value added sector have demanded restoration of zero-rated sales tax regime as despite assurance of 72-hour payment of refunds huge liquidity was stuck up with the tax authority. The Value Added Textile Exports Associations demand the government for immediate restoration of Zero Rating – No Payment No Refund System, release payments […]

by Mrs. Anjum Shahnawaz

Sindh introduces 5% sales tax reduced rate for healthcare services

Feb 6

Taxation

Sindh introduces 5% sales tax reduced rate for healthcare services

KARACHI: Sindh Revenue Board (SRB) on Thursday introduced a reduced rate sales tax at five percent for various healthcare services with compliance of certain conditions. The provincial revenue body issued notification SRB-3-4/7/2020 to announce the reduced rate at five percent instead of 10 percent. The normal sales tax rate on services prevailed in Sindh province […]

by Mrs. Anjum Shahnawaz

SRB announces 5% sales tax reduced rate for personal care services

Feb 6

Taxation

SRB announces 5% sales tax reduced rate for personal care services

KARACHI: Sindh Revenue Board (SRB) on Thursday announced a reduced rate sales tax at five percent for various personal care services with compliance of certain conditions. The provincial revenue body issued notification SRB-3-4/7/2020 to announce the reduced rate at five percent instead of 10 percent. The normal sales tax rate on services prevailed in Sindh […]

by Mrs. Anjum Shahnawaz

Pakistan’s forex reserves increase to $18.644 billion

Feb 6

Finance

Pakistan’s forex reserves increase to $18.644 billion

KARACHI: Pakistan’s liquid foreign exchange reserves increased by $282 million on a weekly basis to $18.644 billion by week ended January 31, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $18.362 billion a week ago on January 24, 2020. The official reserves of SBP increased […]

by Mrs. Anjum Shahnawaz

Equity market ends down by 160 pts on selling pressure

Feb 6

Stock & Commodity

Equity market ends down by 160 pts on selling pressure

KARACHI: The equity market fell by 160 points on Thursday owing to selling pressure was seen during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,724 points as against 40,884 points showing a decline of 160 points. Analysts at Arif Habib Limited said that the market opened on a positive […]

by Mrs. Anjum Shahnawaz

Rupee falls by 8 paisas on import demand

Feb 6

Money & Banking

Rupee falls by 8 paisas on import demand

KARACHI: The Pak Rupee depreciated by eight paisas against dollar on Thursday owing to higher demand for import payments as market opened after a public holiday. The rupee ended Rs154.49 to the dollar from the closing of February 04, 2020 at Rs154.41 in interbank foreign exchange market. Currency dealers said that the demand was higher […]

by Mrs. Anjum Shahnawaz

Foreign investors show willingness on new FDI in Pakistan: OICCI survey

Feb 6

Trade & Industry

Foreign investors show willingness on new FDI in Pakistan: OICCI survey

KARACHI: Overseas Investors Chamber of Commerce and Industry (OICCI) has conducted bi-annual survey 2019 which revealed around 75 percent of its members show willingness to recommend new foreign direct investment in Pakistan to their parent companies.

by Mrs. Anjum Shahnawaz