FBR proposed revamping withholding tax regime, reducing to five rates

KARACHI: Federal Board of Revenue (FBR) has been proposed to revamped withholding tax regime and reduced the number of withholding tax rates to maximum five. Overseas Investors Chamber of Commerce and Industry... Read more »

Telenor awarded Rs588 million contract for providing hi-speed broadband

ISLAMABAD: The Universal Service Fund (USF) has awarded contract worth Rs588 million to Telenor Pakistan for providing hi-speed broadband in Sanghar Lot (Sindh). Federal Minister IT & Telecom, Syed Amin ul Haque... Read more »

Foreign exchange reserves increase by $292 million to $18.75 billion

KARACHI: Pakistan’s foreign exchange reserves of the country have increased by $292 million to $18.755 billion by week ended April 30, 2020, State Bank of Pakistan (SBP) said on Thursday. The total... Read more »

Share market falls by 424 points on profit taking

KARACHI: The share market fell by 424 points on Thursday as profit taking witnessed which resulted in selling pressure during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed... Read more »

Meezan Bank maintains deposit base at Rs928 billion

KARACHI: The Board of Directors of Meezan Bank in its meeting, held on May 05, 2020 approved the financial statements of the Bank for the quarter ended on March 31, 2020. The... Read more »

Pakistan Customs cadre strength (BS-17-22) increases to 501

ISLAMABAD: The cadre strength, which includes officers of BS-17 to BS-22, of Pakistan Customs Service (PCS) has increased to 501 by May 06, 2020, according to a notification issued by the Federal... Read more »

Rupee falls by 17 paisas against dollar

KARACHI: The Pak Rupee fell by 17 paisas against dollar on Thursday owing to hope of escalation in economic activity and higher demand for imports. The rupee ended Rs160.22 to the dollar... Read more »

APTMA demands allowing textile downstream supply chain operation

KARACHI: All Pakistan Textile Mills Association (APTMA) has urged Sindh government to allow textile downstream supply chain to resume operation in order to avoid huge unemployment. Zahid Mazhar, Chairman, APTMA Sindh-Balochistan Region... Read more »

General rate of minimum tax proposed at 0.5 percent

KARACHI: Federal Board of Revenue (FBR) has been proposed to reduce the general rate of minimum tax to 0.5 percent in the upcoming budget 2020/2021. In its proposals for budget 2020/2021, the... Read more »

ECC approves free period for cargo, containers landing up to May 31

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet non Wednesday approved free period from five working days to 15 working days for cargo and containers landing up to May 31, 2020.... Read more »