Jan 29

Rules notified for consignment clearance at border customs stations

ISLAMABAD: Federal Board of Revenue (FBR) on Friday issued draft rules for the clearance of import and export consignments at border customs stations. The FBR issued SRO 103(I)/2021 dated January 25, 2021 to propose a new sub-chapter XVI to Customs Rules, 2001 for clearance of imports and exports at border customs station. According to draft […]

by Mrs. Anjum Shahnawaz

Rupee makes gain for fourth straight day

Jan 29

Money & Banking

Rupee makes gain for fourth straight day

KARACHI: The Pak Rupee made gains against the dollar for the fourth straight trading day on Friday owing to improved export receipts and workers’ remittances, dealers said. The rupee gained 18 paisas to close at Rs160.10 against the dollar from the previous day’s closing of Rs160.28 in the interbank foreign exchange market. The rupee made […]

by Mrs. Anjum Shahnawaz

OGDCL-PPL awarded exploration rights of new block in Balochistan

Jan 29

Energy

OGDCL-PPL awarded exploration rights of new block in Balochistan

KARACHI: The government has provisionally awarded exploration rights of a new block situated in the Balochistan Province to a joint venture comprising Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL), a statement said on Friday. The statement issued by PPL said that the government had provisionally awarded a new block ‘Suleiman […]

by Mrs. Anjum Shahnawaz

SECP directs brokers to provide financial information through new online format

Jan 29

Stock & Commodity

SECP directs brokers to provide financial information through new online format

ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) on Thursday directed stock brokers to provide financial information through a newly developed online system. The SECP issued Circular No. 02 of 2021 for online submission of financial information by securities brokers. The SECP directed the securities brokers to submit online financial information in a new standardized […]

by Mrs. Anjum Shahnawaz

FBR issues SRO to withdraw additional customs duty on raw material import

Jan 28

Pakistan Customs

FBR issues SRO to withdraw additional customs duty on raw material import

ISLAMABAD: Federal Board of Revenue (FBR) has withdrawn additional customs duty on import of raw materials of around 174 tariff lines. The FBR on Thursday issued SRO 81(I)/2021 dated January 22, 2021 to abolish additional customs duty on import of raw materials of 174 tariff lines. The FBR issued the SRO for removal of additional […]

by Mrs. Anjum Shahnawaz

ECC approves continuation of general subsidy through Utility Stores

Jan 28

National

ECC approves continuation of general subsidy through Utility Stores

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Thursday approved to continue general subsidy on five essential items provided to consumers through Utility Stores Corporation (USC). Dr. Abdul Hafeez Shaikh, Federal Minister for Finance and Revenue chaired the meeting of ECC. Ministry of Industries and Production presented three proposals related to the Utility […]

by Mrs. Anjum Shahnawaz

Foreign exchange reserves ease to $20.106 billion

Jan 28

Finance

Foreign exchange reserves ease to $20.106 billion

KARACHI: The liquid foreign exchange reserves of the country fell slightly by $14 million to $20.106 billion by week ended January 22, 2021, State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $20.12 billion by week ended January 15, 2021. The official reserves of the central bank […]

by Mrs. Anjum Shahnawaz

Index falls by 292 points on profit booking

Jan 28

Stock & Commodity

Index falls by 292 points on profit booking

KARACHI: The share market witnessed a decline of 292 points on Thursday in profit taking activities. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,166 points as against previous day’s closing of 46,458 points, showing a decline of 292 points. Analysts at Arif Habib Limited said that after posting a high of […]

by Mrs. Anjum Shahnawaz

Fauji Foundation allowed due diligence to acquire majority stake in Silkbank

Jan 28

Corporate, Money & Banking

Fauji Foundation allowed due diligence to acquire majority stake in Silkbank

KARACHI: The board of directors (BOD) of Silkbank Limited on Thursday approved to allow Fauji Foundation to conduct due diligence for acquiring majority stake of the bank. The bank in a notice sent to the Pakistan Stock Exchange (PSX) stated that M/s. Fauji Foundation had expressed an interest in acquiring the majority stake in Silkbank […]

by Mrs. Anjum Shahnawaz

Rupee appreciates by 26 paisas on improved dollar supply

Jan 28

Money & Banking

Rupee appreciates by 26 paisas on improved dollar supply

KARACHI: The Pak Rupee appreciated by 26 paisas against the dollar on Thursday on improved inflows of export receipts and workers’ remittances. The rupee ended at Rs160.28 to the dollar from previous day’s closing of Rs160.54 in the interbank foreign exchange market. Currency dealers said that the market witnessed better supply of the greenback that […]

by Mrs. Anjum Shahnawaz