The Pakistan Stock Exchange (PSX) has been mandated to apply a reduced rate of three percent income tax on payments to non-residents, according to officials from the Federal Board of Revenue (FBR).
KARACHI: State Bank of Pakistan (SBP) has allowed businesses to avail loan scheme for early payment of salary and wages in the wake of Eid-ul-Azha. The SBP also relaxed condition for obtaining loans from more than one bank for the payment of salary and wages. The central bank in a notification issued on Friday said […]
KARACHI: The stock market gained 29 points on Friday as the market witnessed losses of 319 points which was offset by the better results of Habib Bank Limited. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,608 points as against 37,578 points showing an increase of 29 points. Analysts at Arif Habib […]
KARACHI: State Bank of Pakistan (SBP) on Friday decided not to hold regular meeting of monetary policy committee meeting scheduled for July 2020. Given the number of MPC meetings that have taken place in recent months, and actions taken in those meetings, the MPC does not consider it necessary to hold the regular meeting of […]
KARACHI: The Pak Rupee gained 36 paisas against dollar on Friday owing to improved inflows of export receipts and remittances. The rupee ended Rs167.26 to the dollar from previous day’s closing of Rs167.62 in interbank foreign exchange market. Currency experts said that sufficient foreign currency was available in the market to meet import payment demand. […]
KARACHI: Habib Bank Limited (HBL) on Friday declared massive increase of 287 percent in half-year profit tax for the period ended June 30, 2020. The bank, one of the largest bank in Pakistan, declared Rs15.188 billion profit after tax for the period January 01 to June 30, 2020 as compared with Rs3.927 billion in the […]
KARACHI: Following is the rate of capital gains tax on disposal of securities after the amendment made through Finance Act, 2020. Officials at the Federal Board of Revenue (FBR) said that the rate of capital gains tax had been kept unchanged for tax year 2021 and subsequent years. Provided that the rate of tax on […]
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 […]
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 […]
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 […]