Mar 11

Central banks lowering rates in response to coronavirus threat

KARACHI: Central banks of the world are responding to negative impact of coronavirus impact and they are reducing interest rate, said a top official of the State Bank of Pakistan (SBP). Syed Murtuza, Deputy Governor, SBP while addressing at a seminar on impact of coronavirus on economy organized by Federation of Pakistan Chambers of Commerce […]

by Mrs. Anjum Shahnawaz

FBR receives 20,000 tax returns in one week

Mar 11

Taxation

FBR receives 20,000 tax returns in one week

ISLAMABAD: Around 20,000 taxpayers have filed their annual income tax returns during one week after expiry of filing date. According to latest Active Taxpayers List (ATL) the number of return filers increased to 2.55 million by March 08, 2020. There were around 2.53 million return filers when the Federal Board of Revenue (FBR) issued ATL […]

by Mrs. Anjum Shahnawaz

Car sales come down by 44% in eight months

Mar 11

Automotive

Car sales come down by 44% in eight months

KARACHI: The domestic car sales have declined by 44 percent during first eight months of current fiscal year owing to higher prices and economic slowdown. According to data released on Wednesday by Pakistan Automotive Manufacturers Association (PAMA), the total car sales declined to 90,834 units during July – February 2019/2020 as compared with 162,240 units […]

by Mrs. Anjum Shahnawaz

ECC approves electricity subsidy package for export sector

Mar 11

Finance

ECC approves electricity subsidy package for export sector

ISLAMABAD: Economic Coordination Committee (ECC) of the Cabinet has approved a special relief package for export sector in shape of subsidized electricity. Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh chaired the meeting of the Economic Coordination Committee (ECC) of the Cabinet on Wednesday at the Cabinet Division. The ECC […]

by Mrs. Anjum Shahnawaz

Equity market declines by 22 points amid selling in E&P sector

Mar 11

Stock & Commodity

Equity market declines by 22 points amid selling in E&P sector

KARACHI: The equity market fell by 22 points on Wednesday after witnessed over 600 points gain earlier in the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,673 points as against 37,696 points showing a decline of 22 points. Analysts at Arif Habib Limited said that the market opened on a […]

by Mrs. Anjum Shahnawaz

Rupee ends down 98 paisas against dollar

Mar 11

Money & Banking

Rupee ends down 98 paisas against dollar

KARACHI: The Pak Rupee fell by 98 paisas against dollar on Wednesday owing to outflow of hot money from domestic debt market, currency dealers said. The rupee ended at Rs158.43 to the dollar from previous day’s closing of Rs157.45 in interbank foreign exchange market. The rupee fell for the third consecutive day and lost around […]

by Mrs. Anjum Shahnawaz

Mar 11

Money & Banking

Rupee falls by 96 paisas in intraday

KARACHI – The Pakistani Rupee witnessed a significant depreciation against the US Dollar, falling sharply by 96 paisas in intraday trading on Wednesday.

by Mrs. Anjum Shahnawaz