Dec 3

SECP allows online account opening to capital market investors

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Thursday allowed Pakistani residents and non-resident investors to open online account in the capital market. A statement issued by the SECP stated that this new regime is part of the SECP’s digital transformation agenda, allows investors to seamlessly open his or her account with a broker […]

by Mrs. Anjum Shahnawaz

Country’s weekly FX reserves ease by $311 million

Dec 3

Finance

Country’s weekly FX reserves ease by $311 million

KARACHI: The liquid foreign exchange of reserves of the country fell by $311 million to $20.241 billion by week ended November 27, 2020, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves were at $20.552 billion by week ended November 20, 2020. The official reserves of the SBP fell by $305 million […]

by Mrs. Anjum Shahnawaz

Rupee strengthens by 29 paisas on inflows

Dec 3

Money & Banking

Rupee strengthens by 29 paisas on inflows

KARACHI: The Pak Rupee strengthened by 29 paisas against the dollar on Thursday owing to reports of growth in exports of the country. The rupee ended Rs160.17 to the dollar from previous day’s closing of Rs160.46 in the interbank foreign exchange market. Currency dealers said that the market witnessed supply of the foreign currency that […]

by Mrs. Anjum Shahnawaz

PRAL issues cyber security advisory for FBR officials working from home

Dec 3

Taxation

PRAL issues cyber security advisory for FBR officials working from home

ISLAMABAD: Pakistan Revenue Automation (Pvt) Limited (PRAL) has issued cyber security advisory for officials of Federal Board of Revenue (FBR), who are working from home in the wake of resurgence of coronavirus. In its advisory issued on Thursday, the PRAL said that switching to remote working because of the ongoing coronavirus pandemic can create cyber […]

by Mrs. Anjum Shahnawaz

ECC withdraws regulatory duty on cotton yarn import

Dec 2

Finance

ECC withdraws regulatory duty on cotton yarn import

ISLAMABAD: The Economic Coordination Committee (ECC) on Wednesday approval removal of 5 percent regulatory duty on import of cotton yarn. The Ministry of Commerce presented a proposal before the ECC regarding removal of 5 percent regulatory duty on import of cotton yarn till June 30, 2021. After detailed discussion, the chair approved the removal of […]

by Mrs. Anjum Shahnawaz

PTBA demands 60-day extension for filing income tax returns

Dec 2

Taxation

PTBA demands 60-day extension for filing income tax returns

ISLAMABAD: Pakistan Tax Bar Association (PTBA) has demanded the tax authorities to extend the date for filing income tax returns for two months considering resurgence of coronavirus, calculation errors on IRIS portal and newly launched simple return form for small manufacturers. In a letter sent to FBR Chairman, the PTBA sought extension for filing of […]

by Mrs. Anjum Shahnawaz

SBP issues guidelines for e-commerce exporters

Dec 2

Money & Banking

SBP issues guidelines for e-commerce exporters

KARACHI: State Bank of Pakistan (SBP) on Wednesday issued guidelines for e-commerce exporters in order to promote such exports from Pakistan. The SBP said that in order to promote Business-to-Consumer (B2C) e-Commerce exports from Pakistan, State Bank of Pakistan has reviewed the aforementioned instructions to align these with the changing business dynamics of e-commerce exports. […]

by Mrs. Anjum Shahnawaz

Stock market gains 362 points to continue momentum

Dec 2

Stock & Commodity

Stock market gains 362 points to continue momentum

KARACHI: The stock market on Wednesday added 362 points after carrying the momentum shown in the past couple of sessions. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 42,027 points as against 41,665 points showing an increase of 362 points. Analysts at Arif Habib Limited said that the market carried the momentum […]

by Mrs. Anjum Shahnawaz

Rupee falls by 64 paisas on payment demand

Dec 2

Money & Banking

Rupee falls by 64 paisas on payment demand

KARACHI: The Pak Rupee fell by 64 paisas against the dollar on Wednesday owing to payment demand for import and corporate payments. The rupee ended 160.46 to the dollar from the previous day’s closing of Rs159.82 in the interbank foreign exchange market. Currency dealers said that the demand for import and corporate payments was higher […]

by Mrs. Anjum Shahnawaz

FBR needs to collect Rs3,275 billion in seven months to achieve annual target

Dec 1

Taxation

FBR needs to collect Rs3,275 billion in seven months to achieve annual target

ISLAMABAD: Federal Board of Revenue (FBR) is required to collect Rs3,275 billion in remaining seven months to meet the revenue collection target for the current fiscal year. The FBR has been assigned to collect Rs4,963 billion as revenue collection target for the fiscal year 2020/2021. The FBR provisionally collected Rs1,688 billion during first five months […]

by Mrs. Anjum Shahnawaz