Pkrevenue.com

Day: September 2, 2020

  • Project launched to promote tax culture through educational institutions

    Project launched to promote tax culture through educational institutions

    ISLAMABAD: Federal Board of Revenue (FBR) and Federal Directorate of Education (FDE) have signed a agreement to promote tax culture in the country through educational institutions.

    A special signing ceremony of Letter of Understanding (LoU) between FDE and FBR held on Wednesday in Ministry of Federal Education and Professional Training Islamabad.

    Ceremony was observed by Federal Minister Shafqat Mahmood, Parliamentary Secretary Wajija Akram Khan, Chairman FBR Javed Ghani, Federal Secretary Farah Hamid Khan, Additional Secretary Mohyuddin Ahmed Wani, Director General Federal Directorate of Education, Zia Batool and senior officers of the FBR.

    The LoU is aimed to promote tax culture and tax awareness in all educational institutions of Federal Directorate of Education.

    It shall serve to define and detail the terms & conditions to foster positive taxation culture serve and awareness among students and teachers through different sets of activities, skills and experiential learning for making them responsible citizen.

    Federal Board of Revenue will educate and train two hundred twenty thousand students & seven thousands & five hundred teachers through taxation syllabus, training sessions and seminars.

    Federal Board of Revenue (FBR) shall provide experiential learning opportunities, on and off campus for personal and professional development of the students and Teachers.

    Federal Board of Revenue is prime institution of the country which collects tax from businesses and individuals, scrutinize tax crimes and money laundering by applying highest standards of courtesy, integrity and professionalism.

    Federal Directorate of Education shall arrange tax awareness campaigns and walks in coming months all over the Islamabad capital territory.

    Federal Minister Shafqat Mahmood applauded the initiative and urged the provinces to follow this practice. Federal Education Minister has stated, we are introducing such reforms through syllabus for students and teachers, which have never been observed in the history of the country, before.

    The project will ensure improved personal and professional knowledge, attitude and skills of the students & teachers through core values of respect for law, the life and property of self and others by strictly following the Federal Board of Revenue.

    LoU was inked by Director General Federal Directorate of Education (FDE) Zia Batool and Chief (FATE) Federal Board of Revenue Ayesha Farooq.

  • Share market gains 458 points as activities seen in blue chips

    Share market gains 458 points as activities seen in blue chips

    KARACHI: The share market witnessed an increase of 458 points on Wednesday owing to trading activities were seen banking and other blue-chip stocks.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,834 points as against 41,378 points showing an increase of 458 points.

    Analysts at Arif Habib Limited said that the market continued the bull run to post a total gain of 556 points during the session, closing the session +458 points.

    Brisk trading activity was witnessed, which saw NBP trading at upper circuit after posting better than expected financial results at the opening bell.

    Cement, Fertilizer, OMCs and Chemical sector stocks followed this performance and traded high volumes.

    Overall trading volumes also reached a recent time high of 836 million shares. Technology sector led the volumes with 114.5 million shares, followed by Cement (86.9 million) and Banks (81.3 million). Among scrips, KEL topped the volumes with 53.9 million, followed by PTC (48.7 million) and PBTL (46.9 million).

    Sectors contributing to the performance include Banks (+90 points), Fertilizer (+81 points), O&GMCs (+49 points), Inv Banks (+39 points) and Cement (+35 points).

    Volumes increased from 759.3 million shares to 837.0 million (+10 percent DoD). Average traded value also increased by 21 percent to reach US$ 158.1 million as against US$ 131.2 million.

    Stocks that contributed significantly to the volumes include KEL, PTC, PIBTL, HASCOL and TRG, which formed 28 percent of total volumes.

    Stocks that contributed positively to the index include ENGRO (+38 points), UBL (+34 points), NBP (+31 points), DAWH (+28 points) and EFERT (+26 points). Stocks that contributed negatively include HUBC (-13 points), SHFA (-4 points), MEBL (-3 points), FCEPL (-3 points) and HINOON (-2 points).

  • Rupee gains three paisas on improved sentiments

    Rupee gains three paisas on improved sentiments

    KARACHI: The Pak Rupee gained three paisas against dollar on Wednesday owing to improved sentiments on economic indicators, analysts said.

    The rupee ended Rs165.60 to the dollar from previous day’s closing of Rs165.63 in interbank foreign exchange market, according to data released by State Bank of Pakistan.

    The rupee appreciated by Rs2.83 against the dollar since August 26, 2020.

    Currency experts said that the rupee had recovered against the greenback owing to improved economic indicators including surplus current account, narrowed trade deficit and improved foreign exchange reserves.

    The experts said that the local unit would further gain in coming days owing to inflows of foreign remittances and export receipts.

    However, they said that demand for import payments after normalization of coronavirus impact could increase dollar demand.