Coronavirus infects 23 FBR officials

KARACHI: At least 23 tax officials posted at Regional Tax Office (RTO) Quetta have been tested positive for coronavirus. A senior official of RTO Quetta confirmed that officials had been tested positive for coronavirus. The official said that initially 14 officials were infected with the virus. Further tests increased the number to 23. More, tests […]

by Mrs. Anjum Shahnawaz

Stock market gains 239 points on further rate cut expectations

Apr 28

Stock & Commodity

Stock market gains 239 points on further rate cut expectations

KARACHI: The stock market gained 239 points on Tuesday owing to expected lower inflation and possible further rate cut. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,553 points as against 32,315 points showing an increase of 239 points. Analysts at Arif Habib Limited said that the market saw rebound of cement […]

by Mrs. Anjum Shahnawaz

FBR explains sealing of export TP cargo though Railways

Apr 28

Pakistan Customs

FBR explains sealing of export TP cargo though Railways

KARACHI: Federal Board of Revenue (FBR) has issued procedure of sealing of export cargo under transshipment transported by Pakistan Railways. Sealing at focal points (Entry) for transshipment containers and dry port export cargo containers transported by Pakistan railways: I. The Custom Agent/carrier will lodge the TP application/ declaration in the Custom Facilitation Centre/ Transshipment Section […]

by Mrs. Anjum Shahnawaz

Rupee falls by Rs1.17 against dollar on import demand

Apr 28

Money & Banking

Rupee falls by Rs1.17 against dollar on import demand

KARACHI: The Pak Rupee ended down by Rs1.17 against dollar on Tuesday as the local currency was seen under pressure on import payment demand. The rupee ended at Rs161.65 to the dollar from last trading day on April 24, 2020 at Rs160.48 in interbank foreign exchange market. The currency dealers said that the market was […]

by Mrs. Anjum Shahnawaz

NA approves harsh penalties for manufacturers, retailers for obstructing tax monitoring

Apr 28

Taxation

NA approves harsh penalties for manufacturers, retailers for obstructing tax monitoring

ISLAMABAD: The National Assembly has approved the law for imposition of harsh fine and penalties upon manufacturers and retailers for obstructing tax authorities in monitoring business activities. The National Assembly passed the Tax Laws (Second Amendment) Ordinance, 2019 which was promulgated through presidential ordinance in December 2019. After passage it shall be called the Tax […]

by Mrs. Anjum Shahnawaz

SECP extends submission of AML/CFT quarterly information up to May 31

Apr 28

Stock & Commodity

SECP extends submission of AML/CFT quarterly information up to May 31

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has extended the date up to May 31, 2020 for submission of mandatory information related to anti money laundering (AML)/ counter financing of terrorism (CFT) for the corporate sector. The SECP on Monday due to the recent outbreak of pandemic Coronavirus (COVID- 19) and its impact on […]

by Mrs. Anjum Shahnawaz