Sep 18

Pakistan Customs makes seizures of Rs10.36bn in 2 ½ months

KARACHI: Pakistan Customs has accelerated operation against smuggling and non-duty paid items and made seizure of goods and vehicles valuing Rs10.36 billion during two and a half months of the current fiscal year. The seizure during the current period of the current fiscal year is 91.4 percent higher than the seizure of Rs5.41 billion made […]

by Mrs. Anjum Shahnawaz

Sep 18

Taxation

FBR issues tax details parliamentarians

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued the tax directory for tax year 2018 disclosing the payment of tax made by members of upper and lower houses. Dr. Abdul Hafeez Shaikh, Advisor to Prime Minister on Finance and Revenue, in his massage on launching of the tax directory said that transparency in tax […]

by Mrs. Anjum Shahnawaz

FBR selects 10,441 income tax audit cases through computer balloting

Sep 18

Taxation

FBR selects 10,441 income tax audit cases through computer balloting

ISLAMABAD: Federal Board of Revenue (FBR) on Friday selected 10,441 cases of income tax for audit of tax year 2018. The FBR conducted computerized balloting for selection of cases under Audit Policy 2019, which was recently released. As many as 10,441 Income Tax cases were chosen through balloting for audit whereas the board selected 2065 […]

by Mrs. Anjum Shahnawaz

FBR issues rules for duty free import of minimum value goods

Sep 18

Pakistan Customs, Taxation

FBR issues rules for duty free import of minimum value goods

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued rules for duty free minimum value of goods imported through courier and postal service. The FBR issued SRO 886(I)/2020 to notify draft amendment to Customs Rules, 2001. Through the draft amendment the FBR issued ‘Deminimis rules for imported goods’, which shall apply to the goods imported […]

by Mrs. Anjum Shahnawaz

Share market gains by 170 points on positive sentiments ahead of MPS announcement

Sep 18

Stock & Commodity

Share market gains by 170 points on positive sentiments ahead of MPS announcement

KARACHI: The share market witnessed a robust increase of 170 points on Friday, propelled by the rebalancing of international stock markets and improved sentiments ahead of the forthcoming Monetary Policy Statement (MPS).

by Mrs. Anjum Shahnawaz

Rupee appreciates by 38 paisas on export receipts, remittances inflows

Sep 18

Money & Banking

Rupee appreciates by 38 paisas on export receipts, remittances inflows

The Pakistani Rupee experienced a notable appreciation of 38 paisas against the US Dollar on Friday, closing at Rs165.83 in the interbank foreign exchange market.

by Mrs. Anjum Shahnawaz

Foreign direct investment surges by 40 percent in two months

Sep 18

Finance

Foreign direct investment surges by 40 percent in two months

KARACHI: The net inflow of foreign direct investment (FDI) has surged by 40 percent during the first two months of the current fiscal year, according to data released by State Bank of Pakistan (SBP) on Friday. The net FDI grew to $227 million during July – August 2020 as compared with $162 million in the […]

by Mrs. Anjum Shahnawaz

Sep 18

Stock & Commodity

PSX imposes restriction on New Peak Securities

KARACHI: Pakistan Stock Exchange (PSX) on Thursday imposed restriction on M/s. New Peak Securities (Private) Limited – TREC Holder – on failure to comply with the instructions of the exchange. In a notification, the PSX informed all market participants that M/s. Peak Securities (Private) Limited – TREC Holder, PSX (New Peak) failed to comply with […]

by Mrs. Anjum Shahnawaz