Rules notified for issuance of Naya Pakistan Certificates for overseas, resident Pakistanis

ISLAMABAD: The ministry of finance has notified rules for issuance of Naya Pakistan Certificates (NPC) at for overseas Pakistanis at an attractive rate of return against dollar denomination bills. According to the rules notified on Tuesday, every non-resident Pakistani having national identity card for overseas Pakistanis, foreigners having Pakistan origin card, members of overseas Pakistanis […]

by Mrs. Anjum Shahnawaz

Share market ends down by 311 points on selling pressure

Sep 8

Stock & Commodity

Share market ends down by 311 points on selling pressure

KARACHI: The share market ended down by 311 points on Tuesday after selling pressure by end of session. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,985 points as against 42,296 points showing a decline of 311 points. Analysts at Arif Habib Limited said that the market saw selling pressure by the […]

by Mrs. Anjum Shahnawaz

FBR launches single page return form for traders

Sep 8

Taxation

FBR launches single page return form for traders

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday launched single page income tax return form for traders in order to facilitate this segment of the economy to comply with the mandatory requirement. The FBR issued SRO 821(I)/2020 to launch the draft income tax return form for traders having turnover less than Rs10 million. The FBR […]

by Mrs. Anjum Shahnawaz

Rupee falls by 56 paisas on rising import demand

Sep 8

Money & Banking

Rupee falls by 56 paisas on rising import demand

KARACHI: The Pak Rupee fell by 56 paisas against the dollar on Tuesday owing to demand for import and corporate payments, dealers said. The rupee ended Rs166.43 to the dollar from the previous day’s closing of Rs165.87 in the interbank foreign exchange market. The currency dealers said that the demand for import and corporate payments […]

by Mrs. Anjum Shahnawaz

Engro Fertilizers, MCB Bank introduce first electronic bank guarantee solution

Sep 8

Corporate

Engro Fertilizers, MCB Bank introduce first electronic bank guarantee solution

KARACHI: Engro Fertilizers Ltd and MCB Bank Ltd have partnered to accelerate digitization of financial products and developed Pakistan’s first-ever solution to electronically manage bank guarantees. With businesses adopting virtual operations and enforcing minimal physical interaction in the wake of COVID-19, Engro Fertilizers Ltd engaged MCB Bank Ltd, one of the leading Banks in the […]

by Mrs. Anjum Shahnawaz