Tax liability for 2020 to be discharged with return for builders, developers

Apr 25

Taxation

Tax liability for 2020 to be discharged with return for builders, developers

KARACHI: Builders and developers are required to discharge tax liability for tax year 2020 with the tax return. Commenting on Tax Laws (Amendment) Ordinance, 2020, tax experts at PwC A Ferguson said that the annual tax liability for a project is to be computed by dividing the total liability of the project under the regime […]

by Mrs. Anjum Shahnawaz

Apr 25

Stock & Commodity

Weekly Review: market likely to stay range bound due to Ramazan

KARACHI: The trading activities in the stock market likely to stay range bound during next week due to commencement of the holy month of Ramazan. Analysts at Arif Habib Limited said that market to remain range bound in the upcoming week. With commencement of the month of Ramazan, volumes may dry down. While extension in […]

by Mrs. Anjum Shahnawaz

FBR issues procedure for safe transportation of ISAF cargo

Apr 25

Pakistan Customs

FBR issues procedure for safe transportation of ISAF cargo

ISLAMABAD: Federal Board of Revenue (FBR) has issued procedure for movement of International Security Assistant Force (ISAF) cargo under Pakistan Customs Container Security System (PCCSS). The FBR through a notification dated April 17, 2020 said that the procedure as followed for the transshipment cargo shall be applicable for sealing and de-sealing of ISAF cargo with […]

by Mrs. Anjum Shahnawaz

SBP advises banks to register security interest under STA

Apr 25

Money & Banking

SBP advises banks to register security interest under STA

KARACHI: State Bank of Pakistan (SBP) on Friday advised banks, microfinance banks and development financial institutions (DFIs) to register their security interest under secured transaction laws. The SBP in a circular said that with a view to provide for registration of charge on security/collateral offered by un-incorporated entities including sole proprietorships and partnerships and thereby […]

by Mrs. Anjum Shahnawaz

Apr 24

World

IMF, WTO call for lifting restriction on medical supplies

KARACHI: Kristalina Georgieva, Manaing Director, International Monetary Fund (IMF) and Roberto Azevêdo, Director General, World Trade Organization on Friday jointly called for governments to refrain from imposing export and other trade restrictions on key medical supplies and food and to quickly lift those put in place since the start of the year. Statements issued by […]

by Mrs. Anjum Shahnawaz

Engro signs pact with Bill & Melinda Gates Foundation to support poverty alleviation in Pakistan

Apr 24

Corporate, National

Engro signs pact with Bill & Melinda Gates Foundation to support poverty alleviation in Pakistan

KARACHI: Engro Foundation has signed a three-year agreement with the Bill & Melinda Gates Foundation to promote the well-being of vulnerable and marginalized segments of the society in Pakistan. Under the cooperation agreement, the organizations will also explore opportunities to support the Government of Pakistan’s poverty alleviation program for deserving families, whose incomes have been […]

by Mrs. Anjum Shahnawaz

Telenor, Ufone awarded next generation broadband SDP contracts

Apr 24

IT & Telecom

Telenor, Ufone awarded next generation broadband SDP contracts

ISLAMABAD: Mobile phone operators Telenor and PMTL (Ufone) have been awarded contracts for Next Generation Broadband for Sustainable Development Projects (SDP) worth Rs729 million in total. The 70th Board of Directors meeting of Universal Service Fund (USF) granted the approval on Friday. The meeting was chaired by Federal Secretary Ministry of IT and Telecommunication Shoaib […]

by Mrs. Anjum Shahnawaz

PIA slashes UAE fares up to 30 percent for providing relief to stranded Pakistanis

Apr 24

National

PIA slashes UAE fares up to 30 percent for providing relief to stranded Pakistanis

ISLAMABAD: Pakistan International Airline (PIA) has slashed fares of its special flights up to 30 percent in order to provide relief to stranded Pakistanis in United Arab Emirates (UAE) due to coronavirus pandemic. Special Assistant to the Prime Minister (SAPM) on Overseas Pakistanis and Human Resource Development Sayed Zulfikar Abbas Bukhari told this to the […]

by Mrs. Anjum Shahnawaz

Stock market ends down 44 points in narrow range trading

Apr 24

Stock & Commodity

Stock market ends down 44 points in narrow range trading

KARACHI: The stock market ended down by 44 points on Friday as market traded in a narrow range on the last day of the week. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 32,806 points as against 32,850 points showing a decline of 44 points. Analysts at Arif Habib Limited said that […]

by Mrs. Anjum Shahnawaz

Profit rate on saving schemes reduced up to 300 basis points

Apr 24

Finance

Profit rate on saving schemes reduced up to 300 basis points

ISLAMABAD: The government on Friday reduced profit rate up to 300 basis points on saving schemes following major cut in policy rate by State Bank of Pakistan (SBP). The revised rate of profit on various saving scheme will be applicable on April 24, 2020. The SBP has reduced the policy rate to 9 percent after […]

by Mrs. Anjum Shahnawaz