ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday promoted 106 officials of Inland Revenue Service (IRS) to BS-18 on regular basis and acting charge basis with immediate effect. The following BS-17 officers of IRS are promoted to BS-18 on regular basis with immediate effect:- 1. Ms. Sadeea Nadeem 2. Ali Ahsan Warraich 3. Ms. Mahwash […]
ISALAMABAD: Federal Board of Revenue (FBR) on Tuesday abolished regulatory duty on import of wheat in order to bring down domestic price of the commodity. The FBR issued SRO 633(I)/2020 in order to amend SRO 6809I)/2019 dated June 28, 2019. Through the SRO the FBR reduced the regulatory duty to zero from 60 percent. FBR […]
The equity market in Pakistan witnessed a modest gain of 50 points on Tuesday, characterized by mixed trading activities throughout the day. The benchmark KSE-100 index of the Pakistan Stock Exchange closed at 37,700 points, exhibiting an increase from the previous closing level of 37,651 points.
KARACHI: The Pak Rupee recovered 40 paisas against dollar on Tuesday owing to significant reduction in current account deficit (CAD) and lower demand for import payments. The rupee ended Rs167.90 to the dollar from previous day’s closing of Rs168.30 in interbank foreign exchange market. Currency experts said that sharp contraction in annual current account deficit […]
KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over huge amount of exemptions, concessions granted under Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTA). The apex trade body urged the government to redesign the FTAs and PTAs with a view to promote the domestic industry of Pakistan, as the […]
KARACHI: Pakistan’s Current Account Deficit (CAD) has reduced by 78 percent owing to lower imports and better inflows. The CAD fell to $2.966 billion during fiscal year 2019/2020 as against the deficit of $13.434 billion in the preceding fiscal year. The import bill of the country fell by 19 percent to $44.57 billion during fiscal […]
ISLAMABAD: The law of advance ruling for classification of goods or determination of origin has been implemented through Finance Act, 2020 from July 01, 2020. The National Assembly has approved the law of advance ruling that was proposed through Finance Bill, 2020. According to explanation issued by PWC A F Ferguson Chartered Accountants, the concept […]
ISLAMABAD: Pakistan Telecommunication Authority (PTA) on Monday blocked social media Bigo and issued final warning to Tik Tok on complaints of obscene and vulgar content. The PTA said that it had received number of complaints from different segment of the society against immoral, obscene and vulgar content on social media applications particularly Tik Tok and […]