Feb 24

Centralized repository to facilitate effective settlement of insurance claims: SECP

KARACHI: Pakistan’s first ever centralized information repository has been launched on Monday for life insurance sector. This will complement government’s objectives of providing ease of doing business and enhanced consumer protection. Aamir Khan, Chairman, Securities and Exchange Commission of Pakistan (SECP) in his keynote address said that the initiative would augment technological advancement in the […]

by Mrs. Anjum Shahnawaz

Coronavirus threat: KCCI demands waiver of demurrage, detention charges on Chinese consignments

Feb 24

Trade & Industry

Coronavirus threat: KCCI demands waiver of demurrage, detention charges on Chinese consignments

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has demanded the government authorities to waive demurrage and detention charges on Chinese consignments that are stopped due to threat of coronavirus. KCCI President Agha Shahab Ahmed Khan in a statement urged the Ministry of Maritime Affairs, Federal Board of Revenue (FBR) and the State Bank of […]

by Mrs. Anjum Shahnawaz

SBP directs banks to collect Hajj applications on coming weekly holidays

Feb 24

Money & Banking

SBP directs banks to collect Hajj applications on coming weekly holidays

KARACHI: State Bank of Pakistan (SBP) on Monday directed banks to collect Hajj applications and other dues on coming weekly holidays on Saturday February 29 and Sunday March 01. A statement issued by the SBP stated that in order to facilitate the intending pilgrims to deposit application forms along with dues for Hajj 2020, 13 […]

by Mrs. Anjum Shahnawaz

Feb 24

Money & Banking

Rupee ends flat against dollar

KARACHI: The Pak Rupee ended flat against dollar on Monday amid demand for import and corporate payments. The rupee ended Rs154.21 to the dollar from last Friday’s closing of Rs154.20 in interbank foreign exchange market. Analysts said that improved indicators of lower import bill and shrinking current account deficit helped the positive sentiments n the […]

by Mrs. Anjum Shahnawaz

Stock market plunges 1105 points on coronaviruse fears

Feb 24

Stock & Commodity

Stock market plunges 1105 points on coronaviruse fears

KARACHI: The stock market plunged by 1,105 points or 2.7 percent on Monday owing to rising coronavirus cases in neighboring country. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,144 points as against 40,249 points showing a decline of 1105 points (-2.7 percent DoD). Analysts at Arif Habib Limited said that the […]

by Mrs. Anjum Shahnawaz

FBR withdraws 40% regulatory duty on sugar import

Feb 24

Taxation

FBR withdraws 40% regulatory duty on sugar import

ISLAMABAD: The government has withdrawn 40 percent regulatory duty on import of sugar and sugar products. The FBR issued SRO 127(I)/2020 dated February 24, 2020 to withdraw the regulatory duty of 40 percent on import of commodities falling under Customs Harmonized Code Chapter of 17.01. The government imposed 40 percent regulatory duty on import of […]

by Mrs. Anjum Shahnawaz

Feb 24

Stock & Commodity

Coronavirus haunts Pakistan Stock Market

KARACHI: The Novel Coronavirus haunted the investors of Pakistan Stock Exchange (PSX) as the equity market fell by around 720 points in early day trading on Monday. The benchmark KSE-100 index of PSX fell by 720 points in less than 90 minutes trading. The market is trading at 39,530 points. Muhammad Sohail, Chief of Topline […]

by Mrs. Anjum Shahnawaz

Feb 24

Stock & Commodity

Farrukh Hussain assumes charge of PSX CEO

KARACHI: Farrukh Hussain Khan has assumed the charge of Chief Executive Officer (CEO) of Pakistan Stock Exchange (PSX) on Monday, February 24, 2020, a statement said. Farrukh Hussain was appointed by the Board of Directors of PSX with the approval of the Securities and Exchange Commission of Pakistan (SECP) as CEO of PSX in place […]

by Mrs. Anjum Shahnawaz

Feb 24

Taxation

How to check ATL status?

KARACHI: Appearance of name on active taxpayers list (ATL) has become very important especially after the introduction of 10th Schedule to Income Tax Ordinance, 2001 through Finance Act, 2019. The filing of income tax return is mandatory for persons driving taxable income or specified under Section 114 of Income Tax Ordinance, 2001. The appearance of […]

by Mrs. Anjum Shahnawaz