Jul 27

Tenure extension request of trade bodies rejected: Razak Dawood

KARACHI: Abdul Razzak Dawood, Advisor to Prime Minister on Commerce and Investment, has said that there is no provision in the law to extend tenure of trade bodies. “There is no consideration of extending tenure of trade bodies office bearers and even the law doesn’t allow such proposal,” a statement issued by United Business Group […]

by Mrs. Anjum Shahnawaz

RTO-III Karachi assures exporters of resolving pending issues on priority

Jul 27

Taxation, Trade & Industry

RTO-III Karachi assures exporters of resolving pending issues on priority

KARACHI: Dr. Amir Ali Khan Talpur, Chief Commissioner Inland Revenue, Regional Tax Office (RTO)-III, Karachi has assured the exporters of resolving pending issues on priority basis. “All the legitimate pending matters of exporters in the hands of Regional Tax Office-III shall be resolved on priority basis,” a statement issued by Pakistan Apparel Forum on Monday […]

by Mrs. Anjum Shahnawaz

FBR to notify withholding tax exemption for wheat import

Jul 27

National, Taxation

FBR to notify withholding tax exemption for wheat import

ISLAMABAD: Federal Board of Revenue (FBR) soon to issue exemption from withholding tax on import of wheat in order to ensure availability of the commodity in the country. Omar Hamid, Secretary Ministry of National Food Security and Research (NFS&R), said while chairing a meeting on wheat import on Monday. He said that taxes and duties […]

by Mrs. Anjum Shahnawaz

Consultations on tariff rationalization to begin next month: Razak Dawood

Jul 27

Pakistan Customs

Consultations on tariff rationalization to begin next month: Razak Dawood

ISLAMABAD: Abdul Razak Dawood, Advisor to the Prime Minister on Commerce and Investment, has said that consultations on tariff rationalization with stakeholders will start from next month. He said that tariff rationalization is vital for export-led industrialization in Pakistan and discussions would start with the relevant stakeholders from next month to develop a three year […]

by Mrs. Anjum Shahnawaz

FBR, provincial authorities discuss single return filing portal

Jul 27

Taxation

FBR, provincial authorities discuss single return filing portal

ISLAMABAD: Federal Board of Revenue (FBR) has discussed with the provinces about common portal for single return filing, a statement said on Monday. At the meeting the tax authorities deliberated on ways to facilitate taxpayers under jurisdictions of the federal and the provincial authorities. Member IR Operations D. Muhammad Ashfaq Ahmed presided over the meeting. […]

by Mrs. Anjum Shahnawaz

Jul 27

Money & Banking

Bank holidays announced for Eid-ul-Adha

KARACHI: State Bank of Pakistan (SBP) on Monday said that the central bank will remain closed from July 31, 2020 to August 02, 2020 (Friday to Sunday) on occasion of Eid-ul-Adha. The commercial banks shall also observe the same holidays announced by the SBP on the occasion of Eid-ul-Adha.

by Mrs. Anjum Shahnawaz

Stock market gains 614 points on SBP’s decision for holding MPC meeting

Jul 27

Stock & Commodity

Stock market gains 614 points on SBP’s decision for holding MPC meeting

KARACHI: The stock market gained 614 points on Monday owing the decision of the central bank for not to hold regular meeting of monetary policy committee. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 38,221 points as against 37,608 points showing increase of 614 points. Analysts at Arif Habib Limited said that […]

by Mrs. Anjum Shahnawaz

Rupee gains 39 paisas on improved inflows

Jul 27

Money & Banking

Rupee gains 39 paisas on improved inflows

KARACHI: The Pak Rupee gained 39 paisas against dollar on Monday owing to sufficient inflows of workers remittances and export receipts. The rupee ended Rs166.87 to the dollar from last Friday’s closing of Rs167.26 in interbank foreign exchange market. Currency experts said that the inflows of workers remittances and export receipts were more than the […]

by Mrs. Anjum Shahnawaz