FBR, Punjab Excise, Taxation sign exchange of information agreement

ISLAMABAD: Federal Board of Revenue (FBR) and Punjab Excise, Taxation and Narcotics Control Department have signed an agreement for exchange of information of respective registered persons with the respective authorities. The signing ceremony was held on Monday at the office of Punjab Excise, Taxation and Narcotics Control Department in Lahore. The signing ceremony was witnessed […]

by Mrs. Anjum Shahnawaz

SBP allows opening of selected bank branches on Saturdays

Sep 14

Money & Banking

SBP allows opening of selected bank branches on Saturdays

KARACHI: State Bank of Pakistan (SBP) on Monday allowed banks to open their selected branches on Saturdays with ensuring implementation of SOPs to prevent coronavirus. The SBP said that through a notification on October 14, 2011 under which banks / microfinance banks were permitted to open their selected branches at various business centers / commercial […]

by Mrs. Anjum Shahnawaz

Foreign investors express concern over high turnover tax

Sep 14

Trade & Industry

Foreign investors express concern over high turnover tax

KARACHI: Foreign investors have expressed concerns over high rate of turnover tax rate, especially for those sectors where margins are very low. Overseas Investors’ Chamber of Commerce and Industry (OICCI) expressed this concern at an interactive session with Dr. Abdul Hafeez Sheikh held on September 12, 2020, a statement said on Monday. The statement said […]

by Mrs. Anjum Shahnawaz

Stock market ends unchanged amid range bound trading

Sep 14

Stock & Commodity

Stock market ends unchanged amid range bound trading

KARACHI: The stock market ended unchanged on Monday as the market traded witnessed range bound activity. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed closed at 42,531 points same as of Friday. Analysts at Arif Habib Limited said that the market traded range bound between -163 points and +190 points. Selling pressure was […]

by Mrs. Anjum Shahnawaz

Rupee eases by 20 paisas on import payment

Sep 14

Money & Banking

Rupee eases by 20 paisas on import payment

KARACHI: The Pak Rupee fell by 20 paisas against the dollar on Monday owing to higher demand of the foreign currency for import and corporate payments. The rupee ended Rs166.17 to the dollar from last Friday’s closing of Rs165.97 in interbank foreign exchange market. Currency experts said that the market was opened after weekly holidays […]

by Mrs. Anjum Shahnawaz

Workers’ remittances surge by 31pc in July – August

Sep 14

Money & Banking

Workers’ remittances surge by 31pc in July – August

KARACHI: The inflow of workers’ remittances sharply increased by 31 percent during first two months of the current fiscal year owing to initiatives of the central bank. The inflow of remittances surged to $4.86 billion during July – August 2020 as compared with $3.71 billion during the corresponding period of the last fiscal year, according […]

by Mrs. Anjum Shahnawaz