Mar 31

Share market gains over 1200 points on tax relief reports

KARACHI: The share market gained over 1,200 points on Tuesday owing to reports of tax relief announced by the government. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 29,231 points as against 28,023 points showing an increase of 1208 points. Analysts at Arif Habib Limited said that the market opened on a […]

by Mrs. Anjum Shahnawaz

FBR asks terminal operators to allow 15-day free time for imported cargo

Mar 31

Pakistan Customs

FBR asks terminal operators to allow 15-day free time for imported cargo

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday asked terminal operators to provide 15-day free time to imported cargo at port area without demurrage and detention charges in the wake of coronavirus lockdown. The FBR said that Federation of Pakistan Chambers of Commerce and Industry (FPCCI) had asked the board to intervene into the matter […]

by Mrs. Anjum Shahnawaz

FBR further extends sales tax payment date up to April 12

Mar 31

Taxation

FBR further extends sales tax payment date up to April 12

Islamabad, Pakistan – In a bid to provide relief to businesses during these challenging times, the Federal Board of Revenue (FBR) announced on Tuesday the extension of the last date for the payment of sales tax and federal excise duty (FED) for the month of February 2020.

by Mrs. Anjum Shahnawaz

FBR appeals taxpayers pay duty, taxes to help government fight against coronavirus

Mar 31

Taxation

FBR appeals taxpayers pay duty, taxes to help government fight against coronavirus

ISLAMABAD: Federal Board of Revenue (FBR) has appealed taxpayers to pay their duty and taxes in order to help the government to fight against coronavirus pandemic. In a statement on Tuesday the FBR appealed the taxpayers to pay their due taxes in time to increase the revenue resource of the government. The government will utilize […]

by Mrs. Anjum Shahnawaz

APTMA demands restoration of zero-rate sales tax, policy rate reduction to 5pc

Mar 31

Trade & Industry

APTMA demands restoration of zero-rate sales tax, policy rate reduction to 5pc

KARACHI: All Pakistan Textile Mills Association (APTMA) on Tuesday demanded the government of restoring zero-rate sales tax and reducing interest rate to five percent in order to help the industry and ensure jobs. The textile association suggested immediate actions to keep the industry afloat and retain jobs, the government needs to extend the debt repayment […]

by Mrs. Anjum Shahnawaz

Date for converting bearer prize bonds of Rs40,000 extended to June 30

Mar 31

Money & Banking

Date for converting bearer prize bonds of Rs40,000 extended to June 30

KARACHI: People now can surrender Rs40,000 denomination bearer prize bonds by June 30, 2020 and exchange the amount with registered bonds or other given options. Finance Division on Tuesday issued a notification to extend the last date for encashment/redemption of Rs40,000 bearer bonds from March 31, 2020 to June 30, 2020. The SBP stopped the […]

by Mrs. Anjum Shahnawaz

Rupee depreciates by 56 paisas against dollar

Mar 31

Money & Banking

Rupee depreciates by 56 paisas against dollar

KARACHI: The Pak Rupee fell by 56 paisas against dollar on Tuesday owing to uncertain economic conditions after coronavirus spread. The rupee ended Rs166.70 to the dollar from previous day’s closing of Rs166.14 in interbank foreign exchange market. Currency experts said that the uncertain economic conditions were prevailed after lockdown in most of the parts […]

by Mrs. Anjum Shahnawaz

Attock Refinery warns complete shut down on lower uplifting

Mar 31

Corporate, Energy

Attock Refinery warns complete shut down on lower uplifting

KARACHI: Attock Refinery Limited has warned complete shut down within one week in case production uplift not improved. In a communication sent to Pakistan Stock Exchange (PSX), the company informed the situation of product uplifting had not improved. Consequently, the company has been resorted to further reduce the production and currently the refinery is operating […]

by Mrs. Anjum Shahnawaz

Mar 31

Corporate

Philip Morris suspends operations

KARACHI: Philip Morris (Pakistan) Limited, a tobacco manufacturing company, has announced to suspend operations for indefinite period due to spread of coronavirus. In a letter to Pakistan Stock Exchange (PSX) on Tuesday, the company said in compliance with directives of provincial governments to contain the spread of COVID-19 it has been decided to temporarily suspend […]

by Mrs. Anjum Shahnawaz

ECC approves Rs75 billion for repayment of tax refunds

Mar 31

Finance, Taxation

ECC approves Rs75 billion for repayment of tax refunds

ISLAMABAD: Economic Coordination Committee of (ECC) the Cabinet on Monday approved Rs75 billion for Federal Board of Revenue (FBR) for the repayment of tax refunds. Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired a special meeting of the ECC, which approved Rs75 billion for FBR to enable them to […]

by Mrs. Anjum Shahnawaz