Sep 23

FBR extends utilization period of input goods under export schemes

ISLAMABAD: Federal Board of Revenue (FBR) has extended the utilization period of input goods under export facilitation schemes up to February 28, 2021 for all three schemes that are Manufacturing Bond, Export Oriented Units and Export Processing Zones, a statement said on Wednesday. A FBR spokesman said that this measure would ensure that the feared […]

by Mrs. Anjum Shahnawaz

SBP sells Rs478 billion worth treasury bills through auction

Sep 23

Money & Banking

SBP sells Rs478 billion worth treasury bills through auction

KARACHI: The government has borrowed an amount of Rs474.8 billion through sale of market treasure bills on Wednesday. The State Bank of Pakistan (SBP) said that bids were invited for the auction of 3-, 6- and 12-month maturities. The auction target was Rs450 billion. The auction witnessed aggressive participation of the banks as the central […]

by Mrs. Anjum Shahnawaz

FBR introduces income tax return form in Urdu language

Sep 23

Taxation

FBR introduces income tax return form in Urdu language

ISLAMABAD: Federal Board of Revenue (FBR) has introduced income tax return form in Urdu language in order to facilitate taxpayers, a FBR spokesman said on Wednesday. The spokesman said that on the vision of the Prime Minister to facilitate taxpayers and on the directives of Advisor to Prime Minister on Finance and Revenue, the FBR […]

by Mrs. Anjum Shahnawaz

Boycott against foodpanda expands to major cities

Sep 23

Trade & Industry

Boycott against foodpanda expands to major cities

KARACHI: Restaurant owners of major cities of the country have joined boycott against foodpanda as food delivery company failed to negotiate, a statement said on Wednesday. The All Pakistan Restaurant Association (APRA), after successful boycott in Karachi of foodpanda, has now started protest in Punjab province and restaurants owners of Lahore, Islamabad and other cities, […]

by Mrs. Anjum Shahnawaz

Regulatory duty, additional customs duty withdrawn on various textile products

Sep 23

Taxation

Regulatory duty, additional customs duty withdrawn on various textile products

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved withdrawal of regulatory duty and additional customs duty on various textile products. The regulatory duty and additional customs duty have been removed on HS Codes of textile sector, including fibers, yarns and fabrics of Nylon, Viscose, Acrylic, Rayon, Silk, Wool and vegetable based […]

by Mrs. Anjum Shahnawaz

NCCPL announces collection of capital gain tax on September 30

Sep 23

Stock & Commodity

NCCPL announces collection of capital gain tax on September 30

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Wednesday announced that it will collect/deduct capital gain tax (CGT) for the period of July – August on September 30, 2020. In a letter to Pakistan Stock Exchange (PSX), the NCCPL said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock […]

by Mrs. Anjum Shahnawaz

Share market inches up in narrow range trading

Sep 23

Stock & Commodity

Share market inches up in narrow range trading

KARACHI: The share market gained 47 points on Wednesday while trading in narrow band, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 41,876 points as against 41,828 points showing an increase of 47 points. Analysts at Arif Habib Limited said that the market traded in a narrow range, moving between […]

by Mrs. Anjum Shahnawaz

Rupee ends flat amid demand for import payment

Sep 23

Money & Banking

Rupee ends flat amid demand for import payment

KARACHI: The Pak Rupee ended flat against dollar on Wednesday despite higher demand for import and corporate payments, dealers said. The rupee ended Rs166.22 to the dollar from the previous day’s closing of Rs166.23 in the interbank foreign exchange market. The currency dealers said that positive sentiments prevailed in the market owing to reports of […]

by Mrs. Anjum Shahnawaz

Current account balance posts surplus of $805 million in July – August

Sep 23

Finance

Current account balance posts surplus of $805 million in July – August

KARACHI: The current account balance registered surplus of $805 million during the first two months of the current fiscal year owing to higher inflows of remittances and lower import payment during the period. According to statistics of Balance of Payment (BOP) released by the State Bank of Pakistan (SBP) on Wednesday revealed that the current […]

by Mrs. Anjum Shahnawaz

FBR advised to activate anti-corruption committees

Sep 23

Pakistan Customs

FBR advised to activate anti-corruption committees

ISLAMABAD: A senior officer of Pakistan Customs has advised the Federal Board of Revenue (FBR) to activate recently established committees for eliminating corruption in the organization. Dr. Asif Mahmood Jah, Chief Collector Customs (North), who is also In charge of Integrity Management Cell, in a letter advised the FBR chairman to activate ‘integrity committees’ at […]

by Mrs. Anjum Shahnawaz