FBR asks exporters to resubmit claims for stuck-up refunds

Aug 20

Taxation

FBR asks exporters to resubmit claims for stuck-up refunds

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday offered exporters to resubmit their refund claims which were stuck up due to any reason. The FBR said that sales tax refund claims of exporters, which were stuck up at pre-processing stage in Fully Automated Sales Tax e-Refund (FASTER) system due to any reason including erroneous filing […]

by Mrs. Anjum Shahnawaz

Sindh EPA takes measures to control Industrial, vehicular emissions

Aug 20

Trade & Industry

Sindh EPA takes measures to control Industrial, vehicular emissions

KARACHI: Sindh Environmental Protection Agency (SEPA) has taken major steps to control industrial and vehicular emissions and retain 40 percent improvement in air quality. The air quality of Karachi city has improved by 40 percent after imposition of lockdown to contain spread of COVID-19. In this regard, SEPA issued directives to all industrial associations to […]

by Mrs. Anjum Shahnawaz

SBP allows extension in foreign currency loan settlement

Aug 20

Money & Banking

SBP allows extension in foreign currency loan settlement

KARACHI: State Bank of Pakistan (SBP) has allowed extension in settlement of foreign currency loans to facilitate exporters and importers in wake of coronavirus pandemic. In a statement issued on Thursday, the SBP said that continuing with its commitment to support the industry amid COVID-19 pandemic, the central bank further facilitated the exporters and importers […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves increase to $19.655 billion

Aug 20

Finance

Foreign exchange reserves increase to $19.655 billion

KARACHI: The liquid foreign exchange reserves of the country increased by $137 million to $19.655 billion by week ended August 13, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $19.518 billion by week ended August 07, 2020. The foreign exchange reserves held by the central […]

by Mrs. Anjum Shahnawaz

Stock market falls 286 points amid selling in major scrips

Aug 20

Stock & Commodity

Stock market falls 286 points amid selling in major scrips

KARACHI: The stock market witnessed selling pressure in major scrips on Thursday and fell by 286 points. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 39,869 points as against 40,154 points showing a decline of 286 points. Analysts at Arif Habib Limited said that the market opened on a positive note today […]

by Mrs. Anjum Shahnawaz

FBR exempts sales tax, income tax on sugar import

Aug 20

Taxation

FBR exempts sales tax, income tax on sugar import

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday exempted sales tax and income tax on import of sugar in compliance with the government decision to lower the price of the commodity. The FBR issued SRO 750(I)/2020 to exemption income tax and SRO 751(I)/2020 to exempt sales tax. Through SRO 750(I)/2020, an amendment has been made […]

by Mrs. Anjum Shahnawaz

Rupee ends down by 12 paisas on import payment demand

Aug 20

Money & Banking

Rupee ends down by 12 paisas on import payment demand

KARACHI: The Pak Rupee ended down by 12 paisas against dollar on Thursday owing to persistent demand for import and corporate payments. The rupee ended Rs168.38 to the dollar from previous day’s closing of Rs168.26 in interbank foreign exchange market. Currency experts said that the rising economic activities after ease in lockdown had increased the […]

by Mrs. Anjum Shahnawaz

Mobile phones worth Rs24.7 billion imported in July 2020

Aug 20

IT & Telecom

Mobile phones worth Rs24.7 billion imported in July 2020

KARACHI: The country has imported mobile phones worth Rs24.7 billion in the month of July 2020, which is almost double than the import value in the same month of the last year, official data revealed. According to data released by Pakistan Bureau of Statistics (PBS) on Wednesday the import of mobile phone increased by 98 […]

by Mrs. Anjum Shahnawaz

FBR to reward for identifying fake, flying invoices

Aug 20

Taxation

FBR to reward for identifying fake, flying invoices

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday announced to give reward money to those people who identify culprits involved tax evasion through fake and flying invoices. A statement issued by the revenue body said that it had encouraged the people to come forward and reveal the identity of the people who are involved in […]

by Mrs. Anjum Shahnawaz

SBP allocates additional Rs190 billion refinancing to facilitate exporters

Aug 20

Money & Banking

SBP allocates additional Rs190 billion refinancing to facilitate exporters

KARACHI: The State Bank of Pakistan (SBP) has allocated an additional amount of Rs190 billion under refinancing schemes for exporters during fiscal year 2020/2021, a statement said on Wednesday. In order to further facilitate the exporters, SBP enhanced the limit of refinancing provided to the banks under Exports Finance Scheme (EFS) by Rs100 billion. Hence, […]

by Mrs. Anjum Shahnawaz