Finance ministry issues strategy for release of funds for development budget

ISLAMABAD: The finance ministry on Wednesday issued strategy for release of funds for development budget during fiscal year 2020/2021. The undersigned is directed to refer to the subject mentioned above and to... Read more »

Assessment oversight committees formed to settle taxpayers’ cases

ISLAMABAD: Assessment oversight committees have been formed at all tax offices of Inland Revenue in order to settle the cases of taxpayers in expeditious manner, officials at Federal Board of Revenue (FBR)... Read more »

Pak Qatar Family Takaful to offer products, services through digital media

KARACHI: Pak-Qatar Takaful Group has decided to use digital media to offer its products and services in the wake of COVID-19 in order to provide the best possible convenience to its valuable... Read more »

Stock market gains 322 points on cut in refinance rate

KARACHI: The stock market gained 322 points on Wednesday owing to improved sentiments of investors after reduction in refinance rates announced by the State Bank of Pakistan (SBP). The benchmark KSE-100 index... Read more »

Rupee gains 19 paisas in interbank

KARACHI: The Pak Rupee gained 19 paisas against dollar on Wednesday owing to improved inflows of export receipts, dealers said. The rupee ended Rs166.76 to the dollar from previous day’s closing of... Read more »

SBP slashes refinance rate to five percent for temporary, long term schemes

KARACHI: State Bank of Pakistan (SBP) has decided to reduce the mark up rates on temporary economic refinance facility (TERF) to five percent from 7 percent and on long term financing facility... Read more »

SBP appoints 12 primary dealers for government securities

KARACHI: State Bank of Pakistan (SBP) has appointed 12 financial institutions as primary dealers for government securities for the fiscal year 2020/2021. The central bank said that applications were invited for selection... Read more »

Bank deposits reach record high at Rs16.23 trillion

KARACHI: The deposits of banking systems have reached record high at Rs16.23 trillion by end of June 30, 2020, according to data released by State Bank of Pakistan (SBP) on Tuesday. The... Read more »

Finance Act 2020: wealth statement cannot be revised after five years

ISLAMABAD: A wealth statement cannot be revised after the expiry of five years from the date of filing of income tax return, officials at Federal Board of Revenue (FBR). The amendment has... Read more »