Foreign exchange reserves decline by $1.68 billion

KARACHI: The liquid foreign exchange reserves of the country fell by $1.68 billion to $16.92 billion by week ended May 29, 2020, State Bank of Pakistan (SBP) said on Thursday. The total... Read more »

Equity market ends down by 282 points on selling pressure

KARACHI: The equity market ended down by 282 points on Thursday owing to selling pressure seen during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,119 points... Read more »

SBP takes additional cash management measures amid rapid spread of coronavirus

KARACHI: The State Bank of Pakistan (SBP) on Thursday taken additional measures for movement of cash in the wake of rapid spread of coronavirus. In a notification to CEO/Presidents of banks, the... Read more »

Rupee further strengthens by 67 paisas against dollar on inflows

KARACHI: The Pak Rupee further gained 67 paisas against dollar on Thursday owing to supply of remittances and export receipts. The rupee ended Rs163.66 to the dollar from previous day’s closing of... Read more »

Budget 2020/2021 preview: Ambitious tax collection target likely with less weight on documentation

KARACHI: The government likely to set an ambitious revenue collection target for budget 2020/2021 with less focus on documentation of economy in order to promote business. According to Budget 2020/2021 preview released... Read more »

FBR officials treat taxpayers as criminal using search powers

KARACHI: Business community has resented the use of powers related to search by Inland Revenue officers and treating registered taxpayers as criminal. Karachi Chamber of Commerce and Industry (KCCI) in its proposals... Read more »

Proposed powers for reopening past 10 years tax cases rejected

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Wednesday said it will oppose any move to grant powers to tax officials regarding opening cases of past 10 years. KCCI President Agha... Read more »

ECC forms body for hedging prices of imported petroleum products

ISLAMABAD: The government on Wednesday constituted a committee for hedging prices of imported petroleum products. The formation of the committee was approved by Economic Coordination Committee (ECC) of the Cabinet, chaired by... Read more »

SECP forms body to develop RBC regime for insurance sector

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has constituted a working group of actuaries for the development of Risk Based Capital (RBC) Regime in Pakistan, said a statement on Wednesday.... Read more »