FBR imposes up to seven percent additional customs duty

ISLAMABAD: Federal Board of Revenue (FBR) has started preparation for achieving revenue collection target for fiscal year 2020/2021 as it massively increased additional customs duty up to 7 percent from July 01,... Read more »

FBR surpasses fiscal year 2019/2020 collection target

ISLAMABAD: Federal Board of Revenue (FBR) has surpassed revenue collection target of Rs3,907 billion for fiscal year 2019/2020, which was significantly lower due to coronavirus adverse impact on the economy. FBR official... Read more »

KSE-100 index closes in positive after two consecutive years in red

KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed 2019/2020 with a positive return after two consecutive years in red, portraying a Pak Rupee based increase of 1.5 percent. Analysts... Read more »

SBP extends employment support scheme for three months

KARACHI: State Bank of Pakistan (SBP) has extended the Rozgar scheme for another three months and, in collaboration with the Government of Pakistan, has increased the risk coverage for SMEs under the... Read more »

Stock market gains 240 points on improved sentiments

KARACHI: The stock market gained 240 points to end the fiscal year on Tuesday over improved sentiments of investors over approval of finance bill and successful action by security forces against terrorists... Read more »

Rupee gains 14 paisas on last day of fiscal year

KARACHI: The Pak Rupee gained 14 paisas against dollar on the last date of fiscal year 2019/2020 owing to transfer of loan amount from Chinese bank. The rupee ended Rs168.05 to the... Read more »

World Bank approves $500 million to help Pakistan strengthening fiscal management

KARACHI: The World Bank on Tuesday approved $500 million in financing for the Resilient Institutions for Sustainable Economy program (RISE) to help Pakistan strengthen fiscal management. A statement issued by The World... Read more »

Shanghai Electric submits fresh intention to acquire 66.4pc K-Electric shares

KARACHI: K-Electric on Tuesday said that it has received fresh Public Announcement of Intention (PAI) from Shanghai Electric Power (SEP) Company Limited (SEP) to acquire up to 66.40 percent voting shares of... Read more »

FBR grants Rs30 billion as tax concession to new business entities

ISLAMABAD: Federal Board of Revenue (FBR) has granted Rs30 billion as initial allowance to new business entities during fiscal year 2019/2020. The concession of allowance has been granted under Section 23 of... Read more »

FBR issues rules for processing duty drawback claims

ISLAMABAD: Federal Board of Revenue (FBR) on Monday issued draft rules for processing duty drawback claims in order to speedy repayment of exporters. The FBR issued SRO 561(I)/2020 to amend Customs Rules,... Read more »