Jun 17

SBP, banks discuss Naya Pakistan Housing Program

KARACHI: Governor State Bank of Pakistan (SBP) Dr. Reza Baqir called a meeting of Banks on Wednesday for deliberations on the measures proposed by Naya Pakistan Housing and Development Authority (NAPHDA) and identify way forward to ensure sustainable market-led financing of housing projects and mortgages. The meeting was chaired by the SBP Governor Dr. Reza […]

by Mrs. Anjum Shahnawaz

SBP suspends service charges to facilitate banks

Jun 17

Money & Banking

SBP suspends service charges to facilitate banks

KARACHI: The State Bank of Pakistan (SBP) on Wednesday announced temporary suspension of 0.12 percent service charges levied on banks against deposit of re-issuable balance. Through FD Circular No. 03/2015, dated August 26, 2015, 0.12 percent service charges have been levied on the banks against deposit of re-issuable balances with SBP BSC offices or NBP […]

by Mrs. Anjum Shahnawaz

Equity market declines by 170 points on political uncertainty

Jun 17

Stock & Commodity

Equity market declines by 170 points on political uncertainty

KARACHI: The equity market ended down by 170 points on Wednesday owing to uncertainty after a political party announced to leave government coalition. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 33,849 points as against 34,019 points showing a decline of 170 points. Analysts at Arif Habib Limited said that the market […]

by Mrs. Anjum Shahnawaz

Jun 17

Budget 2020-2021

Sindh Budget 2020-2021 at a glance

KARACHI: The Sindh government on Wednesday presented budget for fiscal year 2020/2021. The following is budget at a glance:

by Mrs. Anjum Shahnawaz

Jun 17

Budget 2020-2021

Sindh unveils Rs1.2 trillion budget 2020/2021 with no new tax, 10 percent salary increase

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Wednesday presented Rs1.2 trillion provincial budget 2020/2021 with announcing no new tax and increase of 10 percent salary of the provincial government employees. On the floor of the house while delivering speech for budget 2020/2021, the chief minister said that the total outlay of budget for […]

by Mrs. Anjum Shahnawaz

Jun 17

Money & Banking

Rupee slides to Rs165.71 against dollar

KARACHI: The Pak Rupee plummeted by 83 paisas Rs165.71 to the dollar on Wednesday owing to higher demand of the foreign currency for import and corporate payments. The rupee ended at Rs165.71 to the dollar against Rs164.88 in interbank foreign exchange market. Currency dealers said that the market witnessed demand for the foreign currency from […]

by Mrs. Anjum Shahnawaz

Key points of amnesty scheme for real estate sector

Jun 17

Budget 2020-2021, Taxation

Key points of amnesty scheme for real estate sector

KARACHI: The federal government has made amnesty granted to real estate sector to the part of Finance Bill, 2020 in order to get approval from the Parliament. Deloitte Yousuf Adil Chartered Accountants in their budget explanations said that to stimulate investment in real estate and construction sector, a no-questions-asked amnesty has been introduced. Under this […]

by Mrs. Anjum Shahnawaz

NBMFCs reschedule over Rs17 billion loans of 0.93 million individuals

Jun 17

Money & Banking

NBMFCs reschedule over Rs17 billion loans of 0.93 million individuals

ISLAMABAD: Non-bank Microfinance Companies (NBMFCs) have rescheduled over Rs17 billion loan portfolios of 932,862 individuals in order to provide relief in the wake of coronavirus outbreak. The Securities and Exchange Commission of Pakistan (SECP) in a statement issued on Tuesday said that its permission to NBMFCs to reschedule the loan portfolio not only helped NBFCs […]

by Mrs. Anjum Shahnawaz

FBR to take action against amnesty declarants on failure to make payment

Jun 17

Taxation

FBR to take action against amnesty declarants on failure to make payment

The Federal Board of Revenue (FBR) in Pakistan issued a stern warning on Tuesday, stating that it would invoke provisions related to concealed assets if declarants under the amnesty scheme failed to pay their outstanding dues by June 30, 2020.

by Mrs. Anjum Shahnawaz