Jul 6

SECP issues draft professional clearing members regulations

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued draft Professional Clearing Members (PCM) Regulations, 2020 for public consultation. Professional clearing members denotes the concept of a third party independent institution, which will offer custodial and clearing/ settlement services to securities brokers and their customers. PCM can be a financial institution, such as […]

by Mrs. Anjum Shahnawaz

SRB revises sales tax jurisdiction of commissioners

Jul 6

Taxation

SRB revises sales tax jurisdiction of commissioners

KARACHI: Sindh Revenue Board (SRB) on Monday revised jurisdiction of commissioners with effect from July 06, 2020. Following is the revised jurisdiction of commissioners: Commissioner-I Unit 2: Hotels, motels and Guest Houses; restaurants; marriage halls and lawns; caterers; clubs and race clubs; event management services and exhibition services; out-door photographers and videographers; indoor sports and […]

by Mrs. Anjum Shahnawaz

Foreign investors express satisfaction on security environment

Jul 6

Trade & Industry

Foreign investors express satisfaction on security environment

KARACHI: The foreign investors operating in Pakistan have showed satisfaction over security environment especially after quick response of law enforcement agency against failed terror attack on Pakistan Stock Exchange (PSX). “The smooth and professional handling of the brazen attack on Pakistan Stock Exchange on June 29, and restoring order within a very short time, is […]

by Mrs. Anjum Shahnawaz

Equity market gains 151 points to follow global stocks

Jul 6

Stock & Commodity

Equity market gains 151 points to follow global stocks

KARACHI: The equity market gained 151 points on Monday to observe positive streak and follow international market movement. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 35,203 points as against 35,051 points showing an increase of 151 points. Analysts at Arif Habib Limited said that the market went up 187 points during […]

by Mrs. Anjum Shahnawaz

SBP expands refinance facility for health sector to combat COVID-19

Jul 6

Money & Banking

SBP expands refinance facility for health sector to combat COVID-19

KARACHI: The State Bank of Pakistan (SBP) on Monday expand the refinance facility at lower rates for health sector in order to combat COVID-19. On March 17, 2020, SBP introduced a refinance scheme, titled Refinance Facility to Combat Covid-19 (RFCC), to support the hospitals and health sector for providing services to directly fight against Covid-19. […]

by Mrs. Anjum Shahnawaz

Rupee weakens by 51 paisas on import, corporate demand

Jul 6

Money & Banking

Rupee weakens by 51 paisas on import, corporate demand

KARACHI: The Pak Rupee ended down by 51 paisas against the dollar on Monday owing to higher demand for import and corporate demand. The rupee closed at Rs166.72 to the dollar from last Friday’s close of Rs166.21 in interbank foreign exchange market. Currency experts said that the market was opened after two days weekly holidays […]

by Mrs. Anjum Shahnawaz