Sep 10

PM inaugurates Roshan Digital Accounts for NRPs

ISLAMABAD: Prime Minister Imran Khan on Thursday inaugurated the Roshan Digital Account, which is a new initiative of the State Bank of Pakistan (SBP), in partnership with major banks in Pakistan. The Roshan Digital Account is for non-resident Pakistanis (NRPs). Through this account, NRPs will be fully integrated with Pakistan’s banking and payments system, said […]

by Mrs. Anjum Shahnawaz

FBR constitutes DPC for promotions of BS-16-17 IRS officials

Sep 10

Taxation

FBR constitutes DPC for promotions of BS-16-17 IRS officials

ISLAMABAD: Federal Board of Revenue (FBR) has constituted a Departmental Promotion Committee (DPC) for making recommendation for promotions of officers of Inland Revenue Service (IRS) BS-16 to BS-17. Through a notification issued by the FBR on Thursday the DPC has been constituted with the approval of FBR chairman for making recommendations to the appointing authority […]

by Mrs. Anjum Shahnawaz

FBR to launch electronic filing of appeals

Sep 10

Taxation

FBR to launch electronic filing of appeals

ISLAMABAD: Federal Board of Revenue (FBR) has decided to launch an automated system for filing of appeals against orders passed by Commissioners Inland Revenue. FBR spokesman on Thursday said that the decision to launch electronic filing of appeals had been taken after webinar sessions with the stakeholders. The spokesman said that the FBR was in […]

by Mrs. Anjum Shahnawaz

SBP issues procedure for investment in Naya Pakistan Certificates

Sep 10

Money & Banking

SBP issues procedure for investment in Naya Pakistan Certificates

KARACHI: State Bank of Pakistan (SBP) on Thursday issued procedure for investment in Naya Pakistan Certificates (NPC) which will be offered to both overseas and resident Pakistanis at attractive rates of return in Pak Rupee and US Dollar denomination bills. The SBP said that The certificates shall be subscribed by eligible individuals through Foreign Currency […]

by Mrs. Anjum Shahnawaz

Sep 10

Automotive

Car sales climb up by 16pc in August

KARACHI: The sales of locally manufactured cars have recorded 16 percent increase to 11,678 units in August 2020 as compared with 10,102 units in the same month of the last year. According to data released by Pakistan Auto Manufacturers Association (PAMA) Indus Motor (INDU) and Honda Car (HCAR) registered sales increase of 52 percent YoY […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves increase to $19.961 billion

Sep 10

Finance

Foreign exchange reserves increase to $19.961 billion

KARACHI: The country’s foreign exchange reserves increased by $118 million to $19.961 billion by week ended September 4, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $19.843 billion by week ended August 28, 2020. The official reserves of the SBP increased by $95 million to […]

by Mrs. Anjum Shahnawaz

Stock market gains 625 points as investors welcome Roshan Digital Accounts

Sep 10

Stock & Commodity

Stock market gains 625 points as investors welcome Roshan Digital Accounts

KARACHI: The stock market gained 625 points on Thursday as investors responded positively to a banking facility for non-resident Pakistanis. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,647 points as against 42,022 points showing an increase of 625 points. Analysts at Arif Habib Limited said that boisterous activity was witnessed at […]

by Mrs. Anjum Shahnawaz

Group formed to remove irritants in FBR-NADRA data sharing

Sep 10

Taxation

Group formed to remove irritants in FBR-NADRA data sharing

ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Dr. Abdul Hafeez Shaikh on Thursday constituted a high powered group to remove difficulties in data sharing between Federal Board of Revenue (FBR) and National Database Registration Authority (NADRA). The adviser stressed on the need to establish a link between NADRA and FBR for data […]

by Mrs. Anjum Shahnawaz

Sep 10

Money & Banking

Rupee recovers 12 paisas against dollar

KARACHI: The Pak Rupee recovered 12 paisas against dollar on Thursday owing to improved economic indicators, dealers said. The rupee ended Rs166.40 to the dollar from previous day’s closing of Rs166.52 in interbank foreign exchange market. Currency experts said that positive sentiments prevailed in the foreign exchange market due to launching of roshan digital accounts […]

by Mrs. Anjum Shahnawaz

Bank deposits reach all-time high at Rs16.327 trillion

Sep 10

Money & Banking

Bank deposits reach all-time high at Rs16.327 trillion

Karachi – The banking sector in Pakistan has witnessed a historic surge in deposits, reaching an all-time high of Rs16.327 trillion by the end of August 2020, according to data released by the State Bank of Pakistan (SBP) on Thursday.

by Mrs. Anjum Shahnawaz