Weekly foreign exchange reserves ease by $22 million

KARACHI: Pakistan’s foreign exchange reserves eased by $22 million to $20.38 billion by week ended December 11, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $20.402 billion by week ended December 04, 2020. The foreign exchange reserves of the SBP were remained flat at $13.299 […]

by Mrs. Anjum Shahnawaz

Stock market gains 407 points on global oil price increase

Dec 17

Stock & Commodity

Stock market gains 407 points on global oil price increase

KARACHI: The stock market gained 407 points on Thursday owing to uptick in prices of international crude oil which helped energy scrips at the local bours. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,767 points as against 43,360 points showing an increase of 407 points. Analysts at Arif Habib Limited said […]

by Mrs. Anjum Shahnawaz

Rupee strengthens by 28 paisas against dollar

Dec 17

Money & Banking

Rupee strengthens by 28 paisas against dollar

KARACHI: The Pak Rupee strengthened by 28 paisas against the dollar on Thursday owing to improved foreign inflows of workers’ remittances and export receipts. The rupee ended Rs160.11 against the dollar from previous day’s closing of Rs160.39 in the interbank foreign exchange market. Currency dealers said that improved inflows of workers remittances and export receipts […]

by Mrs. Anjum Shahnawaz

Customs invites OMCs for auction of POL products on December 22

Dec 17

Auction, Energy

Customs invites OMCs for auction of POL products on December 22

ISLAMABAD: Directorate General of Intelligence and Investigation. Customs, Multan has announced auction of huge quantity of POL products on December 22, 2020 at the directorate office. The directorate will auction POL products, included: High Speed Diesel (HSD) 295,200 liters; Kerosene Oil 111,630 liters; and base oil 94,200 liters. The directorate said that the quotations for […]

by Mrs. Anjum Shahnawaz

Cash back to customers: FBR issues list of integrated retailers

Dec 17

Taxation

Cash back to customers: FBR issues list of integrated retailers

ISLAMABAD: Federal Board of Revenue (FBR) has issued updated list of Tier-1 retailers, who have integrated their Point of Sales (POS) with the online system of the tax authorities. Only a customer of Tier-1 retailer is eligible to get cash back of five percent sales tax out of total amount of sales tax paid at […]

by Mrs. Anjum Shahnawaz

Taxes removed on locally manufactured mobile phones; ECC accords approval

Dec 17

Finance, IT & Telecom

Taxes removed on locally manufactured mobile phones; ECC accords approval

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved removal of taxes on locally manufactured mobile phones. Federal Minister for Finance and Revenue Dr. Abdul Hafeez Sheikh chaired the ECC meeting. The ECC approved Mobile Device Manufacturing and Electric Vehicles Policy (02-03 wheelers and HCVs {Heavy Commercial Vehicles}) presented by the Ministry […]

by Mrs. Anjum Shahnawaz