OMCs must have 21 days stock of POL products, federal cabinet decides

Jun 9

Energy

OMCs must have 21 days stock of POL products, federal cabinet decides

ISLAMABAD: Authorities to enforce license condition that Oil Marketing Companies (OMCs) must have 21 days stock in order to ensure availability of petroleum products. Prime Minister Imran khan chaired the meeting of the federal cabinet held on Tuesday. The prime minister directed the Minister of Petroleum and Oil and Gas Regulatory Authority (OGRA) to ensure […]

by Faisal Shahnawaz

Meezan Bank plays leading role in issuance of Rs200bn worth Energy Sukuk

Jun 9

Money & Banking

Meezan Bank plays leading role in issuance of Rs200bn worth Energy Sukuk

KARACHI: Meezan Bank Limited has played a leading role in successfully concluding the issuance of Pakistan Energy Sukuk (PES) II worth approximately Rs200 billion by Power Holding Limited (PHL), a public sector entity fully owned by the Ministry of Energy and Government of Pakistan, a statement said on Tuesday. The milestone transaction, powered by the […]

by Mrs. Anjum Shahnawaz

Stock market gains 54 points in narrow range trading

Jun 9

Stock & Commodity

Stock market gains 54 points in narrow range trading

KARACHI: The stock market gained 54 points on Tuesday while trading in narrow range trading. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,803 points as against 34,750 points showing an increase of 54 points. Analysts at Arif Habib Limited said that the market traded in a narrow range today between -61 […]

by Mrs. Anjum Shahnawaz

Rupee extends losses against dollar on external payments

Jun 9

Money & Banking

Rupee extends losses against dollar on external payments

KARACHI: The Pak Rupee extended losses for second day against dollar and fell by 72 paisas on external payments, dealers said on Tuesday. The rupee ended Rs164.34 to the dollar from previous day’s closing of Rs163.62 in interbank foreign exchange market. The rupee lost value of around Rs1.04 against dollar during past two trading days. […]

by Mrs. Anjum Shahnawaz

Jun 9

Budget 2020-2021

Budget 2020/2021 to focus on mitigating COVID-19 impact

KARACHI: The government may focus supportive measures in the upcoming budget 2020/2021 in order to reduce the impact COVID-19, analysts said on Tuesday. Analysts at Arif Habib Limited highlighted the blueprint of the FY21 Budget whereby the key objective of the government is the revival and stabilization of the economy after being pinned down from […]

by Mrs. Anjum Shahnawaz

Bank deposits touch new peak of Rs15.48 trillion

Jun 9

Money & Banking

Bank deposits touch new peak of Rs15.48 trillion

KARACHI: The deposits of banking system high record high at Rs15.48 trillion in May 2020 despite sharp cut in policy rate cut and Eid festival. According to statistics released by State Bank of Pakistan (SBP) on Monday the deposits of banking system sharply grew by 15 percent to Rs15.48 trillion by end of May 2020 […]

by Mrs. Anjum Shahnawaz

FBR suggested to reduce customs duty to 5 percent on steel products

Jun 9

Taxation

FBR suggested to reduce customs duty to 5 percent on steel products

KARACHI: Federal Board of Revenue (FBR) has been suggested to reduce customs duty to five percent on import of steel products in order to reduce cost of doing business for industries. Karachi Chamber of Commerce and Industry (KCCI) in its proposals for budget 2020/2021 submitted to the FBR, urged to reduce the customs duty to […]

by Mrs. Anjum Shahnawaz

FBR pays homage to officials die of COVID-19

Jun 9

Taxation

FBR pays homage to officials die of COVID-19

ISLAMABAD: Federal Board of Revenue (FBR) has paid homage to officials who died of coronavirus in the line of duty. The FBR in a statement on Monday paid homage to all its employees who died in the line of duty due to outbreak of Covid-19 and heartily condoled with their bereaved families. FBR appreciates the […]

by Mrs. Anjum Shahnawaz