Apr 14

SECP shuts registration offices, facilitation centers amid coronavirus outbreak

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Tuesday shut Companies Registration Offices (CROs) and facilitation centers till further instructions as preventive measures against coronavirus disease (COVID-19). The regulator in a circular No. 13/2020 dated April 14, 2020 said that the current outbreak of coronavirus disease (COVID-19) in a substantial number of countries […]

by Mrs. Anjum Shahnawaz

FBR releases Rs51.5bn sales tax refunds through automated system

Apr 14

Taxation

FBR releases Rs51.5bn sales tax refunds through automated system

ISLAMABAD: Federal Board of Revenue (FBR) has released Rs51.5 billion sales tax refunds through fully automated online system since July 2020. The FBR on Tuesday released information of release of refunds through Fully Automated Sales Tax E-Refund (FASTER) system. As per record, since July 2019, a total of refunds amounting to Rs. 64.5 billion were […]

by Mrs. Anjum Shahnawaz

Vehicle imports fall 10-year low on regulatory restrictions: State Bank

Apr 14

Automotive

Vehicle imports fall 10-year low on regulatory restrictions: State Bank

KARACHI: The State Bank of Pakistan (SBP) has said that the regulatory restrictions on car imports under the gift and baggage schemes continued to dent Completely Built Unit (CBU) imports. “As a result, overall transport imports fell to a 10-year low in first half (July – December) 2019/2020,” according to SBP report on Pakistan Economy […]

by Mrs. Anjum Shahnawaz

Equity market gains 190 points on improved investors sentiments

Apr 14

Stock & Commodity

Equity market gains 190 points on improved investors sentiments

KARACHI: The equity market gained 190 points on Tuesday owing to improved sentiments of investors. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 31,223 points as against 31,033 points showing an increase of 190 points. Analysts at Arif Habib Limited the market traded in the positive zone for most part of the […]

by Mrs. Anjum Shahnawaz

COVID-19 makes economy highly uncertain: SBP

Apr 14

Finance

COVID-19 makes economy highly uncertain: SBP

KARACHI: The State Bank of Pakistan (SBP) on Tuesday said that the global and domestic spread of Covid-19 has brought an exceptional set of challenges for the country. “The spillovers from the global economy and the infection-containment measures in the country are bound to weaken the economic activity and consumer demand and adversely impact supply,” […]

by Mrs. Anjum Shahnawaz

Rupee ends down by 12 paisas on import payment demand

Apr 14

Money & Banking

Rupee ends down by 12 paisas on import payment demand

KARACHI: The Pak Rupee fell by 12 paisas against dollar on Tuesday owing to higher demand of the foreign currency for import payment, dealers said. The rupee ended at Rs166.95 to the dollar from previous day’s closing of Rs166.83 in interbank foreign exchange market. The currency dealers said that the rupee was remained under pressure […]

by Mrs. Anjum Shahnawaz

Withholding tax exemption for cellular consumers under consideration

Apr 14

IT & Telecom, Taxation

Withholding tax exemption for cellular consumers under consideration

ISLAMABAD: The Committee on Issues of Cellular Mobile Operators has agreed to prepare proposals for withdrawal of withholding tax as a relief for cellular consumers in the wake of coronavirus outbreak. First meeting of the Committee on Issues of Cellular Mobile Operators was held here on Monday. Federal Secretary Ministry of IT Shoaib Ahmad Siddiqui […]

by Mrs. Anjum Shahnawaz

Banks’ lending to private sector plummets by 44pc in nine months

Apr 14

Money & Banking

Banks’ lending to private sector plummets by 44pc in nine months

KARACHI: Banks lending to the private sector has sharply declined by 44 percent during first nine months (July – March) 2019/2020 due to slow economic activities and outbreak of coronavirus, according to data released by State Bank of Pakistan (SBP) on Monday. The private sector lending fell to Rs322 billion during July 01, 2019 – […]

by Mrs. Anjum Shahnawaz

PTA monitors telecom operators amid coronavirus pandemic

Apr 14

IT & Telecom

PTA monitors telecom operators amid coronavirus pandemic

ISLAMABAD: Pakistan Telecommunication Authority (PTA) is monitoring packages offered by telecom operators amid coronavirus pandemic. A statement issued on Monday, the PTA said that the telecom operators have launched many offers/initiatives for their subscribers. Some are offering discounts or temporary upgrades at low or no cost during the crisis to help their subscribers stay connected. […]

by Mrs. Anjum Shahnawaz