Sales tax registration may be suspended on non-filing of returns for six consecutive months

ISLAMABAD: Federal Board of Revenue (FBR) may suspend sales tax registration of a taxpayer who fails to file returns for six consecutive months, officials said on Thursday. The officials said that a... Read more »

Bank deposits hit a record high at Rs17.87 trillion

KARACHI: Deposits of the banking system have reached a record high of Rs17.87 trillion owing to higher remittances and lack of cash-based business activities, analysts said on Thursday. The deposits hit a... Read more »

Member IR (Operations) holds meetings with tax officials, industry to boost revenue collection

KARACHI: Dr. Muhammad Ashfaq, Member Inland Revenue (Operations) of the Federal Board of Revenue (FBR) has launched a round of meetings with tax officials and industrialists during his four–day visit to Karachi... Read more »

Duty, tax above Rs1 million made mandatory through e-payment

KARACHI: The payment duty and taxes amounting above Rs1 million has been made mandatory through the electronic mode from January 20, 2021, said Wajid Ali, Director General, Reforms and Automation, Federal Board... Read more »

Stock market sheds 103 points in range bound activity

KARACHI: The stock exchange fell by 103 points on Thursday in range-bound trading activities during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 45,989 points as... Read more »

Country’s foreign exchange reserves inch up

KARACHI: The liquid foreign exchange reserves of the country slightly increased by $7 million to $20.519 billion by the week ended January 08, 2021, the State Bank of Pakistan (SBP) said on... Read more »

Rupee gains 17 paisas on improved inflows

KARACHI: The Pak Rupee gained 17 paisas against the dollar on Thursday owing to inflows of export receipts and workers’ remittances, dealers said. The rupee ended Rs160.18 to the dollar from previous... Read more »

Oil production falls by 6 percent in second quarter of current fiscal year

KARACHI: Pakistan’s Oil production fell by 6 percent year on year (YoY) during second quarter of the current fiscal year to 76,331 barrels of oil per day, analysts said on Thursday. This... Read more »

PSX issues notice to K-Electric to explains unusual price movement

KARACHI: Pakistan Stock Exchange (PSX) on Thursday issued notice to K-Electric Limited to explain unusual movement in its price and volume during past few days trading. The stock exchange said that under... Read more »