Engro Corp declares 32% revenue growth

KARACHI: Engro Corporation has posted consolidated annual revenue growth of 32 percent for the period ended December 31, 2019 as compared with the revenue of the last year. The significant growth in revenue mainly driven by energy projects in Thar coming online during July 2019 and augmented by higher turnover of Fertilizers and Petrochemicals businesses, […]

by Mrs. Anjum Shahnawaz

FBR considers transfer back customs officials

Feb 21

Pakistan Customs

FBR considers transfer back customs officials

KARACHI: Federal Board of Revenue (FBR) is considering transfer back the officials of Pakistan Customs, who were posted outstation during last year. In an official memorandum issued on Friday, the FBR said that a large number of BS-16 officials, who were posted at same collectorates/directorates prior to December 31, 2016 were transferred during the year […]

by Mrs. Anjum Shahnawaz

FATF maintains Pakistan’s grey list status till June 2020

Feb 21

Finance

FATF maintains Pakistan’s grey list status till June 2020

KARACHI: Financial Action Task Force (FATF) on Friday maintained Pakistan’s status of grey list till June 2020 and asked the country to complete its full action plan. “To date, Pakistan has largely addressed 14 of 27 action items, with varying levels of progress made on the rest of the action plan. The FATF strongly urges […]

by Mrs. Anjum Shahnawaz

FBR chairperson to inaugurate International Tax Operations directorate on Feb 22

Feb 21

Taxation

FBR chairperson to inaugurate International Tax Operations directorate on Feb 22

KARACHI: Ms. Nausheen Amjad, Chairperson, Federal Board of Revenue (FBR) will inaugurate directorate of international tax operations in Karachi on Saturday February 22, 2020. Member Inland Revenue (IR) and Director General Offshore Taxation will also accompany the FBR chairperson. Office of the Directorate of International Tax Operation Karachi (Sindh) located at PNSC building. The directorate […]

by Mrs. Anjum Shahnawaz

Stock market falls by 232 points on selling pressure

Feb 21

Stock & Commodity

Stock market falls by 232 points on selling pressure

KARACHI: The stock market fell by 232 points on Friday owing to selling pressures during the trading sessions. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 40,249 points as against 40,482 points showing a decline of 232 points. Analysts at Arif Habib Limited said that the market faced selling pressure and saw […]

by Mrs. Anjum Shahnawaz

Rupee appreciates by three paisas against dollar

Feb 21

Money & Banking

Rupee appreciates by three paisas against dollar

KARACHI: The Pak Rupee appreciated by three paisas against dollar on Friday owing to reduction in current account deficit. The rupee ended Rs154.20 to the dollar from previous day’s closing of Rs154.23 in interbank foreign exchange market. Currency dealers said that market sentiments were remained high owing to narrowing current account deficit of the country. […]

by Mrs. Anjum Shahnawaz

Bearer Prize Bonds of Rs40,000 not to be encashed after March 31

Feb 21

Money & Banking

Bearer Prize Bonds of Rs40,000 not to be encashed after March 31

KARACHI: State Bank of Pakistan (SBP) has said that people can encashed Rs40,000 bearer prize bonds on or before March 31, 2020 and after that the financial instruments cannot be redeemed. The central bank issued frequently asked questions (FAQs) related to the withdrawal of Rs. 40,000/- National Prize Bonds (Bearer) from Circulation to facilitate general […]

by Mrs. Anjum Shahnawaz