Mar 18

Equity market witnesses major fall on policy rate cut disappointment

KARACHI: The equity market fell by over 2200 points or 6.7 percent on Wednesday as investors disappointed over lower than expected rate cut by the central bank. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,416 points as against 32,617 points showing a decline of 2201 points. Analysts at Arif Habib Limited […]

by Mrs. Anjum Shahnawaz

Rupee ends down by 10 paisas against dollar

Mar 18

Money & Banking

Rupee ends down by 10 paisas against dollar

KARACHI: The Pak Rupee ended down by 10 paisas against dollar on Wednesday due to higher import payment demand. The rupee closed at Rs158.52 to the dollar from previous day’s closing of Rs158.42 in interbank foreign exchange market. Currency dealers said that the rupee fell due to rise in demand for import payment. They said […]

by Mrs. Anjum Shahnawaz

SRB extends date for payment, filing returns

Mar 18

Taxation

SRB extends date for payment, filing returns

KARACHI: Sindh Revenue Board (SRB) has extended last date for payment of tax and filing monthly sales tax returns. The SRB said that e-deposit the amount of Sindh sales tax for the tax period February 2020 on or before Tuesday, the March 24, 2020. Similarly, e-file their tax returns for the tax period February 2020 […]

by Mrs. Anjum Shahnawaz

FBR decides online monitoring sale of petroleum products

Mar 18

Taxation

FBR decides online monitoring sale of petroleum products

ISLAMABAD: Federal Board of Revenue (FBR) has decided online monitoring the sale of petroleum products in order to prevent tax evasion. In this regard the FBR issued SRO 23(I)/2020 dated March 16, 2020 to amend Sales Tax Rules, 2006. The amendment has been introduced in Rule 150ZF to include petroleum products in the list of […]

by Mrs. Anjum Shahnawaz

SBP announces loan scheme to fight coronavirus

Mar 18

Money & Banking

SBP announces loan scheme to fight coronavirus

KARACHI: State Bank of Pakistan (SBP) on Tuesday announced a refinancing scheme for combating coronavirus. The size of the scheme is Rs5 billion and available for end-user at three percent. Dr. Reza Baqir, SBP governor, announced the scheme namely “Refinance Facility for Combating COVID–19 (RFCC)” and its Shariah compliant version to support hospitals and medical […]

by Mrs. Anjum Shahnawaz