KE starts updating information of industrial, commercial consumers for tax purpose

KARACHI: K-Electric has launched updating details of industrial and commercial consumers, which is mandatory under income tax law. The company, which is providing electricity to 2.5 million consumers including residential, commercial, industrial and agriculture, has asked the consumers to update their details through an electronic form along with providing details of CNIC and NTN. The […]

by Mrs. Anjum Shahnawaz

Power generation eases by one percent in FY20

Jul 23

Energy

Power generation eases by one percent in FY20

KARACHI: Power generation in Pakistan declined by one percent YoY to 121,867 GWh (23,618 MW) during FY20 as compared to 122,708 GWh (23,781 MW) in FY19 due to overall slow economic activity during the year and the impact of COVID-19 related lockdowns and restrictions during Mar-May 2020, analysts said on Thursday. The analysts at Topline […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves increase to $19.047 billion

Jul 23

Finance

Foreign exchange reserves increase to $19.047 billion

KARACHI: Pakistan’s liquid foreign exchange reserves have increased by $95 million to $19.047 billion by week ended July 17, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $18.952 billion by week ended July 10, 2020. The official reserves held by the central bank increased by […]

by Mrs. Anjum Shahnawaz

Stock market falls by 226 points on selling pressure

Jul 23

Stock & Commodity

Stock market falls by 226 points on selling pressure

KARACHI: The stock market witnessed decline of 226 points on Thursday owing to selling pressure prevailed during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,578 points as against 37,804 points showing a decline of 226 points. Analysts at Arif Habib Limited said that the market had an exciting session, […]

by Mrs. Anjum Shahnawaz

Complaints against banks double in four years: SBP

Jul 23

Money & Banking

Complaints against banks double in four years: SBP

KARACHI: The State Bank of Pakistan (SBP) on Thursday said that complaints against banks have doubled in four years owing to effective dispute resolution and awareness of consumers. The SBP said that the complaints against banks during past four years have increased from 774,656 in 2016 to 1,549,837 in 2019. State Bank of Pakistan (SBP) […]

by Mrs. Anjum Shahnawaz

Jul 23

Money & Banking

Rupee ends firmer against dollar

KARACHI: The Pak Rupee ended firmer against dollar on Thursday as sufficient inflows of the foreign currency were available to meet import payment demand. The rupee ended Rs167.62 to the dollar from previous day’s closing f Rs167.63 in interbank foreign exchange market. Currency experts said that after ease in lockdown which resulted in improved economic […]

by Mrs. Anjum Shahnawaz

Persons not on ATL to pay advance tax on educational fee

Jul 23

Taxation

Persons not on ATL to pay advance tax on educational fee

ISLAMABAD: Persons not appearing on Active Taxpayers List (ATL) are liable to pay advance income tax at the time of paying educational fee. Officials at Federal Board of Revenue (FBR) said that through Finance Act, 2020 the condition of paying advance tax under Section 236I of Income Tax Ordinance, 2001 on educational fee had been […]

by Mrs. Anjum Shahnawaz