May 11

PSX seeks permanent reduction in tax rate for listed companies

KARACHI: Pakistan Stock Exchange (PSX) has recommended to lower the rate of tax for listed companies in order to encourage listing in the equity market. “The tax rate should be permanently lowered for listed companies, by giving tax credit of 20 percent of tax payable for those companies that meet the prescribed requirements including a […]

by Mrs. Anjum Shahnawaz

Inflows of remittances registers 5.5 percent decline in April

May 11

Finance

Inflows of remittances registers 5.5 percent decline in April

KARACHI: The inflow of workers remittances has registered decline of 5.5 percent in April 2020, State Bank of Pakistan (SBP) said on Monday. Workers’ remittances during April 2020 amounted to US $ 1.79 billion recording a decrease of US $ 104.4 million or 5.5 percent over remittance received during previous month (March 2020, US $ […]

by Mrs. Anjum Shahnawaz

SBP to announce monetary policy on May 15

May 11

Money & Banking

SBP to announce monetary policy on May 15

KARACHI: State Bank of Pakistan (SBP) on Monday said that it will announce monetary policy statement for next two months on Friday May 15, 2020. The SBP in previous three announcement during past two months reduced the policy rate by 4.25 percent to 9 percent from 13.25 percent. In the last monetary policy meeting on […]

by Mrs. Anjum Shahnawaz

SBP further relaxes refinance scheme to prevent major layoffs

May 11

Money & Banking

SBP further relaxes refinance scheme to prevent major layoffs

KARACHI: State Bank of Pakistan (SBP) relaxes refinance scheme to prevent large scale layoff of workers due to adverse effects on the economy due to coronavirus. The SBP on Monday said that since its launch of Refinance Scheme to Support Employment and Prevent Layoff of Workers, called Rozgar Scheme in common parlance, State Bank has […]

by Faisal Shahnawaz

May 11

Stock & Commodity

Stock market trades in narrow range

KARACHI: The stock market gained 16 points on Monday while trading in narrow range. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,284 points as against 33,268 points showing an increase of 16 points. Market traded in a narrow range between +48 points and -142 points, closing the session +16 points. Banking […]

by Faisal Shahnawaz

May 11

Money & Banking

Rupee falls by 10 paisas against dollar

KARACHI: The Pak Rupee fell by 10 paisas against dollar Monday amid higher demand import payment, dealers said. The rupee ended Rs160.07 to the dollar from last Friday’s closing of Rs159.97 in interbank foreign exchange market. Currency analysts said that the market opened after weekly holiday which increased the demand for import payment. They said […]

by Faisal Shahnawaz

FBR proposed to eliminate distortion in withholding tax on dividends from equity investments

May 11

Budget 2020-2021, Stock & Commodity

FBR proposed to eliminate distortion in withholding tax on dividends from equity investments

KARACHI: Federal Board of Revenue (FBR) has been proposed to rationalize of withholding tax on dividends as higher rate from equity investments discourage investment in the capital market. Pakistan Stock Exchange (PSX) in its proposals for budget 2020/2021 submitted to Federal Board of Revenue (FBR) said that withholding tax on profit from debt instruments is […]

by Faisal Shahnawaz

May 11

Budget 2020-2021, Stock & Commodity

PSX proposes reduction of withholding tax on margin financing transactions

KARACHI: Pakistan Stock Exchange (PSX) has proposed to reduce the rate of withholding tax in the gross income earned on margin financing transactions to 2.5 percent from existing 10 percent.

by Faisal Shahnawaz