Aug 10

FBR notifies transfers of 38 Customs officers of BS-18, BS-19

ISLAMABAD: Federal Board of Revenue (FBR) on Monday notified transfers and postings of 38 officers of Pakistan Customs Service (PCS) in BS-18 and BS-19 with immediate effect and until further orders. Following officers have been transferred and posted: 01. Farrukh Sajjad (Pakistan Customs Service/BS-19) has been transferred and posted as Additional Collector, Model Customs Collectorate […]

by Mrs. Anjum Shahnawaz

Stock market witnesses selling, decline by 115 points

Aug 10

Stock & Commodity

Stock market witnesses selling, decline by 115 points

KARACHI: The stock market posted decline of 115 points on Monday owing to selling pressure seen during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,915 points as against 40,030 points showing a decline of 115 points. The analysts at Arif Habib Limited said that the market bore selling pressure […]

by Mrs. Anjum Shahnawaz

Rupee slips by 50 paisas on import payment demand

Aug 10

Money & Banking

Rupee slips by 50 paisas on import payment demand

KARACHI: The Pak Rupee has slipped by 50 paisas against dollar on Monday owing to higher demand for import and corporate payment on the first day of the week. The rupee ended Rs168.38 to the dollar from last Friday’s closing of Rs167.88 in interbank foreign exchange market. Currency experts said that the demand was seen […]

by Mrs. Anjum Shahnawaz

SBP enhances loan limits to facilitate borrowers

Aug 10

Money & Banking

SBP enhances loan limits to facilitate borrowers

KARACHI: State Bank of Pakistan (SBP) has enhanced limits of loans in various categories in order to facilitate borrowers to meet demand in present conditions. The central bank in a statement on Monday said that it had enhanced the limits for housing finance and microenterprise loans up to Rs3 million from the existing limit of […]

by Mrs. Anjum Shahnawaz

Aug 10

Taxation

IRS bureaucracy shaken

ISLAMABAD: Federal Board of Revenue (FBR) has shaken the Inland Revenue bureaucracy and around 97 senior officials were transferred, sources said on Monday. According to the sources around 83 officers of BS-20 out of the total 97 were part of this major reshuffle. The sources said that BS-20 is the key post and usually this […]

by Mrs. Anjum Shahnawaz

Non-ATL to pay 0.6pc withholding tax on cash withdrawal

Aug 10

Taxation

Non-ATL to pay 0.6pc withholding tax on cash withdrawal

ISLAMABAD: Federal Board of Revenue (FBR) has said that 0.6 percent withholding tax shall be collected on cash withdrawal of Rs50,000 each day by persons not on the Active Taxpayers List (ATL). The FBR updated withholding tax card 2020-2021 after incorporating amendments to Income Tax Ordinance, 2001 made through Finance Act, 2020. The FBR issued […]

by Mrs. Anjum Shahnawaz