Tax collection target of Rs4.96 trillion for 2020/2021 achievable

ISLAMABAD: Hammad Azhar, Minister for Industries and Production, has said that the tax collection target of Rs4.96 trillion assigned to Federal Board of Revenue (FBR) during next fiscal year is achievable. While... Read more »

SBP foreign exchange reserves slip to $9.96 billion

KARACHI: The official foreign exchange reserves of State Bank of Pakistan (SBP) fell by $146 million to $9.961 billion by week ended June 19, 2020, according to weekly data of foreign exchange... Read more »

Equity market sheds 325 points on fall in global oil prices

KARACHI: The equity market ended down by 325 points on Thursday following decline in global stock markets and ease in international oil prices. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX)... Read more »

ECC decides to abolish regulatory duty on smuggling prone items

ISLAMABAD: Economic Coordination Committee of the Cabinet (ECC) has decided to abolish regulatory duty on smuggling prone items. In a meeting held on Thursday chaired by Adviser to the Prime Minister on... Read more »

SBP slashes policy rate by 100 basis points to 7 percent

KARACHI: The State Bank of Pakistan (SBP) on Thursday announced to further cut policy rate by 100 basis points to 7 percent in order to support domestic economic activities. A statement issued... Read more »

Rupee ends flat against dollar

KARACHI: The Pak Rupee ended flat against dollar on Thursday after making recovery during intraday trading. The rupee ended Rs167.36 to the dollar, same previous day’s level, in interbank foreign exchange market.... Read more »

CRTO Karachi initiates recovery of reward amount from 42 officials

KARACHI: The Chief Commissioner Inland Revenue of Corporate Regional Tax Office (CRTO)-Karachi started recovery of reward amount that was sanctioned to the officials beyond authorized approval. In an official notices issued by... Read more »