FBR recommended CNIC condition on sale of above 10 tola gold

May 30

Budget 2020-2021, Taxation

FBR recommended CNIC condition on sale of above 10 tola gold

KARACHI: Federal Board of Revenue (FBR) has been urged to fix the condition of Computerized National Identity Card (CNIC) on purchase of around 10 Tola or above of gold. Karachi Chamber of Commerce and Industry (KCCI) in proposals for budget 2020/2021 submitted to FBR, said that during last two years, prices of gold has sharply […]

by Mrs. Anjum Shahnawaz

Conditions for masks import should be relaxed: Khurram Ijaz

May 29

Trade & Industry

Conditions for masks import should be relaxed: Khurram Ijaz

KARACHI: Khurram Ijaz, Vice President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the authorities to relax conditions on import of face masks and facilitate masses considering the spread of coronavirus. In a statement issued on Friday, Ijaz urged Drug Regulatory Authority of Pakistan (DRAP) to take measures for early release of […]

by Mrs. Anjum Shahnawaz

Stock market gains 236 points as international oil prices gain

May 29

Stock & Commodity

Stock market gains 236 points as international oil prices gain

KARACHI: The stock market gained 236 points on Friday owing to slight improvement in international oil prices, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,931 points as against 33,695 points showing an increase of 236 points. Analysts at Arif Habib Limited said that the market traded in the positive […]

by Mrs. Anjum Shahnawaz

Dollar rises to Rs163.10 amid payment pressure

May 29

Money & Banking

Dollar rises to Rs163.10 amid payment pressure

KARACHI: The Pak Rupee ended down by Rs1.11 to the dollar on Friday as demand for import and corporate payments remained persist, dealers said. The rupee closed at Rs163.10 to the dollar from previous day’s closing of Rs161.99 in interbank foreign exchange market. Currency experts said that the deterioration in rupee value was due to […]

by Mrs. Anjum Shahnawaz

FBR advised to withdraw powers of freezing bank accounts for tax recovery

May 29

Budget 2020-2021, Taxation

FBR advised to withdraw powers of freezing bank accounts for tax recovery

KARACHI: Federal Board of Revenue (FBR) has been advised to withdraw powers of tax officials related to freezing bank accounts for tax recovery. Karachi Chamber of Commerce and Industry (KCCI) in its budget proposals for 2020/2021 submitted to the FBR highlighted provisions of Income Tax Ordinance, 2001 regarding accessing bank accounts for tax recovery. Under […]

by Mrs. Anjum Shahnawaz

Regulatory duty must be rationalized to curb smuggling: Karachi Chamber

May 29

Budget 2020-2021, Trade & Industry

Regulatory duty must be rationalized to curb smuggling: Karachi Chamber

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) has urged tax authorities to rationalize the regulatory duty on imported goods in order to curb smuggling. In its proposals for budget 2020/2021, the KCCI said that the regulatory duty was imposed in last fiscal year to rectify the balance of payment crisis. To some extent the […]

by Mrs. Anjum Shahnawaz

Auto parts, motorcycles should be excluded from retail price printing condition

May 29

Automotive, Budget 2020-2021

Auto parts, motorcycles should be excluded from retail price printing condition

KARACHI: Federal Board of Revenue (FBR) has been urged to exclude auto spare parts and motorcycles from the requirement of printing of retail price. Karachi Chamber of Commerce and Industry (KCCI) in proposals for budget 2020/2021 submitted to the FBR, said that due to inclusion of motorcycle and automobile spare parts in the Third Schedule, […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves slip by $20 million

May 28

Finance

Foreign exchange reserves slip by $20 million

KARACHI: The liquid foreign exchange reserves of the country have slipped by $20 million to $18.598 billion by week ended May 21, 2020. The total foreign exchange reserves of the country were at $18.618 billion a week ago, State Bank of Pakistan (SBP) said on Thursday. The official reserves of the central bank fell by […]

by Mrs. Anjum Shahnawaz

FBR suggested to abolish further sales tax on fulfilling CNIC condition

May 28

Budget 2020-2021, Taxation

FBR suggested to abolish further sales tax on fulfilling CNIC condition

KARACHI: Federal Board of Revenue (FBR) has been proposed to abolish further sales tax in case taxpayers fulfil condition of Computerized National Identity Card (CNIC). Karachi Chamber of Commerce and Industry (KCCI) in its proposals for budget 2020/2021 submitted to the FBR said that under sales tax law it is mandatory to provide CNIC number […]

by Mrs. Anjum Shahnawaz

Stock market falls by 141 points after Eid holidays

May 28

Stock & Commodity

Stock market falls by 141 points after Eid holidays

KARACHI: The stock market fell by 141 points after Eid Holidays on Thursday as international crude prices slipped, dealers said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,695 points as against 33,836 points showing a decline of 141 points. Analysts Arif Habib Limited said that the market opened on a negative […]

by Mrs. Anjum Shahnawaz