FBR issues SROs for reducing rate of duty, taxes

ISLAMABAD: The Federal Board of Revenue (FBR) has issued concessionary Statutory Regulator Orders (SROs) for reduction in duty and tax rate for import of pulses and edible oil/seeds. The FBR issued two different SROs i.e. SRO 287(I)/2020 and SRO 288(I)/2020 to allow concession of duty and taxes on domestic supply and import of goods. Through […]

by Mrs. Anjum Shahnawaz

Equity market gains 652 points on improved sentiments

Apr 7

Stock & Commodity

Equity market gains 652 points on improved sentiments

KARACHI: The equity market gained 652 points on Tuesday on positive sentiments of investors regarding early release of IMF supported loan. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,232 points as against 30,579 points showing an increase of 652 points. Analysts at Arif Habib Limited said that the market opened on […]

by Mrs. Anjum Shahnawaz

Importers wait issuance of concessionary SRO for consignment clearance

Apr 7

Trade & Industry

Importers wait issuance of concessionary SRO for consignment clearance

KARACHI: Around 500 containers of commodities have been stuck up at ports as importers are waiting issuance of concessionary SRO for customs clearance. “The government on March 30, 2020 decided on to bring advance tax on import of pulses to zero from two per cent and exemption of two per cent additional customs duty on […]

by Mrs. Anjum Shahnawaz

APTMA demands deferment of utility bills, interest payment

Apr 7

Trade & Industry

APTMA demands deferment of utility bills, interest payment

KARACHI: All Pakistan Textile Mills Association (APTMA) has demanded the government of granting deferment of utility bills and interest payment against loans as industry was facing acute liquidity shortage. APTMA Chairman Zahid Mazhar emphasized that currently there is an acute shortage of liquidity and it is impossible for the mills to pay the utility bills. […]

by Mrs. Anjum Shahnawaz

Rupee depreciates by 91 paisas on import payment demand

Apr 7

Money & Banking

Rupee depreciates by 91 paisas on import payment demand

KARACHI: The Pak Rupee fell by 91 paisas against dollar on Tuesday owing to rise in demand for import payment demand. The rupee ended Rs167.90 to the dollar from previous day’s closing of Rs166.99 in interbank foreign exchange market. Currency dealers said that the rise in demand for import payment, especially related to the month […]

by Mrs. Anjum Shahnawaz

SBP exempts service charges on payment made to PM Corona Relief Fund

Apr 7

Money & Banking

SBP exempts service charges on payment made to PM Corona Relief Fund

KARACHI: State Bank of Pakistan (SBP) has exempted services charges on donations made to Prime Minister Corona Relief Fund through payment cards. The SBP in a statement on Tuesday said that it previously issued a circular on August 06, 2018 on Service Charges on Donations/ Payments to Supreme Court of Pakistan’s Diamer Bhasha and Mohmand […]

by Mrs. Anjum Shahnawaz