Jun 5

Commercial importers demand abolishing CNIC condition, FTR restoration

KARACHI: Commercial importers have demanded the government of abolishing condition of Computerized National Identity Card (CNIC) and restoring Final Tax Regime (FTR) in order to save businesses from adverse impact of COVID-19. Amin Yousuf Balgamwala, Chairman Pakistan Chemical Dyes and Merchants Association (PCDMA) and former Director of Karachi Stock Exchange has appealed to Prime Minister […]

by Mrs. Anjum Shahnawaz

Stock market gains 231 points in range bound activity

Jun 5

Stock & Commodity

Stock market gains 231 points in range bound activity

KARACHI: The stock market gained 231 points on Friday while witnessing range bound activity during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,350 points as against 34,120 points showing an increase of +231 points. Analysts at Arif Habib Limited said that the market traded range bound for the most […]

by Mrs. Anjum Shahnawaz

Rupee makes gain for third consecutive day

Jun 5

Money & Banking

Rupee makes gain for third consecutive day

KARACHI: The Pak Rupee strengthened by 36 paisas against dollar for third consecutive day on Friday owing to inflows of export receipts and remittances. The rupee ended at Rs163.30 to the dollar from previous day’s closing of Rs163.66 in interbank foreign exchange market. Currency experts said that the supply of dollar into the market was […]

by Mrs. Anjum Shahnawaz

KCCI urges government to shun pick, choose policy for business relief

Jun 5

Trade & Industry

KCCI urges government to shun pick, choose policy for business relief

KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has urged the government functionaries to avoid ‘pick and choose’ strategy for providing relief to businesses as it will never benefit the national economy. Chairman Businessmen Group (BMG) & Former President KCCI Siraj Kassam Teli and President KCCI Agha Shahab Ahmed in a statement on Thursday […]

by Mrs. Anjum Shahnawaz

Engro commits Rs40 million to extend partnership with SKMCH

Jun 5

Corporate

Engro commits Rs40 million to extend partnership with SKMCH

KARACHI: As part of the Rs1 billion Hussain Dawood Pledge, Engro Foundation – the social investment arm of Engro Corporation – has provided an additional Rs40 million to extend its partnership with Shaukat Khanum Memorial Cancer Hospital (SKMCH) and Research Centre for expansion of COVID-19 testing capacity in Southern Punjab. In the first phase of […]

by Mrs. Anjum Shahnawaz

Petroleum division recommends termination of dealers license on failure to maintain stock

Jun 5

Energy

Petroleum division recommends termination of dealers license on failure to maintain stock

ISLAMABAD: Petroleum Division has recommended termination of dealers licenses for failure to ensure sufficient stock for their respective Oil Marketing Companies (OMCs). The petroleum division is cognizant of the artificial shortage of POL products that is being created in the country by opportunist OMCs and petrol dealers, a statement said on Thursday. The petroleum division […]

by Mrs. Anjum Shahnawaz

FBR decides opening IR offices on Saturdays as coronavirus spreads rapidly

Jun 5

Taxation

FBR decides opening IR offices on Saturdays as coronavirus spreads rapidly

ISLAMABAD: Federal Board of Revenue (FBR) has decided to open its field offices on Saturdays to meet monthly target of Rs415 billion despite rapid spread of coronavirus, which already claimed lives of tax officials. The FBR on Thursday issued a notification directing all chief commissioners of Large Taxpayers Units (LTUs), Regional Tax Offices (RTOs) and […]

by Mrs. Anjum Shahnawaz