Banks to provide information of all recipients of profit on debt

KARACHI: The Federal Board of Revenue (FBR) to ask banks to provide information of all persons receiving profit on debt from July 01, 2020. To implement this an amendment has been introduced... Read more »

FPCCI seeks intervention to prevent Pak Rupee depreciation

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to immediately control the depreciation of Pak Rupee. FPCCI President Mian Anjum Nisar has urged the government to... Read more »

Stock market ends down in dull trading

KARACHI: The stock market ended down on Wednesday amid dull trading activities during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,034 points as against 34,052 points... Read more »

SECP extends date for AMCs to comply with investor’s suitability assessment

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has extended date for Asset Management Companies (AMCs) to comply with mandatory requirement of providing investor’s suitability assessment. A statement issued on Wednesday the... Read more »

Rupee strengthens by 29 paisas on inflows

KARACHI: The Pak Rupee gained 29 paisas against dollar on Wednesday owing to inflows from international financial institutions and shrinking current account deficit. The rupee ended Rs167.36 to the dollar from previous... Read more »

SBP receives $1bn from ADB, World Bank

KARACHI: State Bank of Pakistan (SBP) on Tuesday received $1 billion from two international financial institutions to mitigate adverse economic impact of COVID-19. The SBP said that it had received $500 million... Read more »

Tax deduction allowed on salary up to Rs25,000 paid in cash

KARACHI: The Finance Bill 2020 has proposed major changes related to tax deduction in order to provide relief to business community. Under the proposed amendments the threshold amount has been increased up... Read more »

Exemption from withholding tax on foreign remittances may not practical for banks

KARACHI: The government has granted withholding tax exemption on transfer of foreign remittances to Pak Rupee accounts. But tax experts said that bifurcating transactions for banks may not be practical. Overseas Investors... Read more »