ISLAMABAD: The Central Directorate of National Savings (CDNS) on Thursday raised profit rates of saving schemes. A statement issued by the CDNS stated that all the profit rates of bearer certificates had been increased. However, profit rates of registered saving certificates have been reduced. As per the decision of the CDNS the profit rates have […]
KARACHI: The foreign exchange reserves of the country increased by $1.24 billion to $17.97 billion by week ended June 26, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $16.73 billion by week ended June 19, 2020. The official foreign exchange reserves of the SBP increased […]
KARACHI: State Bank of Pakistan (SBP) has invited business community to provide feedback on an ongoing project of automation of payment of tax refunds by the central bank. Dr. Reza Baqir, Governor, SBP held the online meeting with the business community today to seek feedback on an ongoing project of automation of payment of tax […]
KARACHI: The equity market gained 89 points on Thursday in a mixed trading activity, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,978 points as against 34,889 points showing an increase of 89 points. Analysts at Arif Habib Limited said that the KSE-100 index went up by 288 points during […]
KARACHI: The Pak Rupee made significant gain of Rs1.16 against dollar on Thursday owing to ease in demand for import and corporate payments and substantial inflows during past week. The rupee ended Rs166.89 to the dollar from June 30, 2020 closing of Rs168.05 in interbank foreign exchange market. The currency market was remained closed for […]
KARACHI: State Bank of Pakistan (SBP) has directed banks and exporters to submit undertaking for true e-form under export finance scheme. According to a circular issued on July 01, 2020 the banks shall provide details of exporters including name and address, NTN. Besides, the banks will also provide number and amount of export proceeds. Furthermore, […]
ISLAMABAD: The ministry of finance on Thursday extended the last date to exchange bearer prize bonds of Rs40,000 denomination up to December 30, 2020. The last date to exchange the bearer prize bonds was expired on June 30, 2020. The government on June 24, 2019 announced to discontinue the circulation of Rs40,000 denomination national prize […]
ISLAMABAD: The federal cabinet has approved increase in pension of Employees Old-Age Benefits Institution (EOBI) to Rs8,500 from Rs6,500. According to a tweet by EOBI on Wednesday, the federal cabinet approved an increase in EOBI pensions from Rs 6500 to Rs8500 effective from January 01, 2020. EOBI will restore the increase in pension + arrears […]
KARACHI: Sindh Revenue Board (SRB) has collected Rs105.9 billion as sales tax on service during fiscal year 2019/2020 despite challenging economic situation due to COVID-19. According to a statement released on Wednesday the SRB collected Rs105.9 billion during fiscal year 2019/2020 as compared with Rs100.3 billion in the preceding fiscal year, showing 5.58 percent growth. […]