Shanghai Power allowed extension for public announcement offer to acquire KE shares

Dec 29

Corporate, Energy

Shanghai Power allowed extension for public announcement offer to acquire KE shares

KARACHI: Securities and Exchange Commission of Pakistan (SECP) has allowed 90 days extension to Shanghai Power Company to make public announcement of offer to acquire 66.40 percent ordinary shares of K-Electric Limited. According to a communication to Pakistan Stock Exchange (PSX) on Tuesday related to extension in timeline for public announcement offer to acquire up […]

by Mrs. Anjum Shahnawaz

Dec 29

Money & Banking

Rupee ends flat against dollar

KARACHI: The Pak Rupee eased by one paisa against the dollar on Tuesday as sufficient supply of the foreign currency was available during the day. The rupee ended at Rs160.39 to the dollar from last day’s closing of Rs160.38 in the interbank foreign exchange market. Currency dealers said that although demand for the foreign currency […]

by Mrs. Anjum Shahnawaz

Cash paid for housing unit above Rs2 million required to be reported under AML/CFT: FBR

Dec 29

Taxation

Cash paid for housing unit above Rs2 million required to be reported under AML/CFT: FBR

ISLAMABAD: Every cash transaction for sale and purchase of a housing unit of above Rs2 million is required to be reported under anti-money laundering (AML) / Counter Financing of Terrorism (CFT) to comply with conditions of Financial Action Task Force (FATF), the Federal Board of Revenue (FBR) said on Monday. The FBR issued guidelines to […]

by Mrs. Anjum Shahnawaz

Pak – Afghan PTA to be finalized next month: Razak Dawood

Dec 28

Finance

Pak – Afghan PTA to be finalized next month: Razak Dawood

ISLAMABAD: A preferential trade agreement (PTA) between Pakistan and Afghanistan will be finalized by end of next month, Adviser to Prime Minister on Commerce on Investment, Abdul Razak Dawood said on Monday.

by Mrs. Anjum Shahnawaz

Dec 28

Taxation

PTBA demands 90-day date extension for taxpayers’ profile update

ISLAMABAD: Pakistan Tax Bar Association (PTBA) has demanded the Federal Board of Revenue (FBR) to extend the last date for taxpayers’ profile update at least for 90 days as system glitches creating hurdles in making compliance. The PTBA on Monday sent a letter to FBR chairman Muhammad Javed Ghani highlighting issues related to updating the […]

by Mrs. Anjum Shahnawaz

Dec 28

Taxation

KTBA urges FBR to issue form for updating taxpayers’ profile

KARACHI: Tax practitioners have urged the Federal Board of Revenue (FBR) to issue form for updating taxpayers’ profile and provide suitable time for making compliance. In a letter sent to Member Inland Revenue (Operations) FBR, the KTBA said that the last date for updating taxpayers’ profile is December 31, 2020 but the prescribed form is […]

by Mrs. Anjum Shahnawaz

Pakistan Mortgage Refinance Corporation signs master agreement with six banks

Dec 28

Money & Banking

Pakistan Mortgage Refinance Corporation signs master agreement with six banks

KARACHI: A major step has been taken for the Government’s Naya Pakistan Housing Program and making affordable housing possible for all as Pakistan Mortgage Refinance Corporation (PMRC) signed a master guarantee agreements with six banks, State Bank of Pakistan (SBP) said on Monday. A Credit Guarantee Trust, with Pakistan Mortgage Refinance Corporation (PMRC) as Trustee, […]

by Mrs. Anjum Shahnawaz

SBP directs banks to observe extended hours on Dec 31 to facilitate taxpayers

Dec 28

Money & Banking

SBP directs banks to observe extended hours on Dec 31 to facilitate taxpayers

KARACHI: The State Bank of Pakistan (SBP) on Monday directed banks to open their branches for extended hours on December 31, 2020 in order to facilitate taxpayers in payment of duty and taxes. In order to facilitate the collection of the government receipts/ duties/ taxes, it has been decided that the field offices of SBP […]

by Mrs. Anjum Shahnawaz

Stock market gains 258 points in range bound activity

Dec 28

Stock & Commodity

Stock market gains 258 points in range bound activity

KARACHI: The stock market gained 258 points on Monday while trading in range bound during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 43,674 points as against 43,417 points showing an increase of 258 points. Analysts at Arif Habib Limited said that the market traded positive but range bound today […]

by Mrs. Anjum Shahnawaz

Rupee weakens by six paisas against dollar

Dec 28

Money & Banking

Rupee weakens by six paisas against dollar

KARACHI: The Pak Rupee fell by six paisas against the dollar on Monday as the market opened after public and weekly holidays and witnessed higher demand for import and corporate payments. The rupee ended at Rs160.38 to the dollar from last Thursday’s closing of Rs160.32 in the interbank foreign exchange market. Currency dealers said that […]

by Mrs. Anjum Shahnawaz