Apr 3

SBP allows relief package relaxations to refinance scheme borrowers

KARACHI: State Bank of Pakistan (SBP) on Friday allowed easy loans, as allowed under relief package, to borrowers of refinance schemes. In a statement issued the central bank said that it had allowed similar relaxations, as provided under the relief package, on its concessional refinance schemes. The SBP is continuously reviewing the challenges arising out […]

by Mrs. Anjum Shahnawaz

ABAD hails tax incentives for construction industry

Apr 3

Trade & Industry

ABAD hails tax incentives for construction industry

KARACHI: Mohsin Sheikhani, Chairman, Association of Builders and Developers of Pakistan (ABAD) Mohsin Sheikhani on Friday termed the incentives announced by Prime Minister Imran Khan as a historic package for the construction industry of Pakistan and this package will prove a turning point for the economy of Pakistan. Commenting on incentives announced for construction sector, […]

by Mrs. Anjum Shahnawaz

Share market continues bullish trend, gains 839 points

Apr 3

Stock & Commodity

Share market continues bullish trend, gains 839 points

KARACHI: The share market continued bullish trend on Friday and gained 839 points, which is mainly attributed to reports on package for construction industry to be announced. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,621 points as against 30,783 points showing an increase of 839 points. Analysts at Arif Habib Limited […]

by Mrs. Anjum Shahnawaz

Rupee gains 17 paisas on massive decline in import bill

Apr 3

Money & Banking

Rupee gains 17 paisas on massive decline in import bill

KARACHI: The Pak Rupee gained 17 paisas against dollar on Friday on reports of significant decline in import bill for the month of March 2020, dealers said. The rupee ended Rs166.76 to the dollar from previous day’s closing of Rs166.93 in interbank foreign exchange market. The dealers said that importers were seen cautious to place […]

by Mrs. Anjum Shahnawaz

FBR notifies rules for third party recovery of defaulted amount

Apr 3

Taxation

FBR notifies rules for third party recovery of defaulted amount

ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified rules for third-party recovery of defaulted amount. The FBR issued SRO 274(I)/2020 dated April 02, 2020 to implement the draft rules released on February 14, 2020 through SRO 111(I)/2020. Through the SRO the FBR amended the Income Tax Rules, 2002 and introduced a new chapter “Recovery […]

by Mrs. Anjum Shahnawaz

Import bill falls by 21 percent in March

Apr 3

Finance

Import bill falls by 21 percent in March

KARACHI: The import bill of the country has declined by 21 percent in March 2020 over the previous month owing to lockdown to contain coronavirus pandemic. The import bill was at $3.3 billion in March 2020 as compared with $4.185 billion in February 2020, according to data released by Pakistan Bureau of Statistics (PBS) on […]

by Mrs. Anjum Shahnawaz

SRB tribunal suspends hearing till April 14

Apr 3

Taxation

SRB tribunal suspends hearing till April 14

KARACHI: Appellate Tribunal, Sindh Revenue Board, has announced that hearing in sales tax matters within provincial jurisdictions will remain suspended up to April 14, 2020. The chairman of appellate tribunal SRB issued directives on Thursday in the wake of extension in lockdown by the Sindh government to prevent recent outbreak of COVID-19 and its further […]

by Mrs. Anjum Shahnawaz

Emirates uplifts record cargo from Pakistan amid coronavirus pandemic

Apr 3

Corporate

Emirates uplifts record cargo from Pakistan amid coronavirus pandemic

DUBAI: Emirates SkyCargo completed an industry record uplift of 62 tonnes in a Boeing 777-300 operating from Karachi to Dubai, surpassing its own previous record of 56 tonnes achieved earlier in the week, a statement said on Thursday. Amid these unprecedented times in the wake of the COVID-19 pandemic, Emirates SkyCargo continues to underline its […]

by Mrs. Anjum Shahnawaz