KARACHI: The official foreign exchange reserves of State Bank of Pakistan (SBP) have decreased by $804 million during one week due to external debt payment. The SBP on Thursday said that during the week ended March 27, 2020 its reserves fell by $840 million to $11.185 billion from $11.989 billion a week ago. “This decline […]
KARACHI: State Bank of Pakistan (SBP) has issued instructions to all commercial banks and microfinance banks regarding receiving payments under newly established PM COVID-19 Pandemic Relief Fund 2020. In a circular issued on Thursday, the central bank said that the government had notified establishment of a relief fund, namely, Prime Minister’s COVID-19 Pandemic Relief Fund-2020, […]
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday extended the date for integration of Point of Sale (POS) by high volume retailers up to April 30, 2020. The last date for integrating the POS for Tier-1 retailers was March 31, 2020. The FBR said that only those retailers can integrate their POS by April 30 […]
KARACHI: The equity market witnessed sharp increase of 1,277 points on Thursday owing to jump in international oil prices. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 30,782 points as against 29,506 points showing an increase of 4.3 percent or 1277 points. Analysts at Arif Habib Limited said that After yesterday’s pause, […]
KARACHI: The Pak Rupee ended down by 10 paisas against dollar on Thursday due to higher import payments and outflow of hot money. The rupee ended at Rs166.93 to the dollar from previous day’s closing of Rs166.83 in interbank foreign exchange market. Currency experts said that the rupee was remained under pressure due to higher […]
KARACHI: ICI Pakistan Limited on Thursday announced temporarily closing down its polyester plant and office locations due to measures taken by the government to contain coronavirus. In a notice sent to Pakistan Stock Exchange (PSX), the company said that in accordance with directives of the government with regard to containment of COVID-19, the company has […]
ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Wednesday announced regulatory relief for corporate sector in order to dilute impact of coronavirus. The SECP said that considering the gravity of the pandemic coronavirus (COVID-19) on the public health and the lockdown situation in the country, the companies are facing various difficulties while ensuring compliance […]
KARACHI: The equity market gained 274 points on Wednesday in range bound trading activities. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 29,506 points as against 29,232 points showing an increase of 274 points. Analysts at Arif Habib Limited said that the market traded range bound today, oscillating between -330 points and […]
KARACHI: The Pak Rupee ended down by 13 paisas against dollar on Wednesday owing to higher demand from importers and corporate buyers. The rupee closed at Rs166.83 to the dollar form previous day’s closing of Rs166.70 in interbank foreign exchange market. The currency experts said that the rupee was remained under pressure due to higher […]
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday said that an amount of Rs56 billion was paid as sales tax refunds to improve liquidity of exporters. The FBR shared information about refund claims sanctioned through FASTER (Fully Automated Sales Tax e-Refund) system developed for quick processing of refunds due to exporters. Since July 2019, Refund […]