Jan 26

Stock market gains 200 points amid activity in cement, energy sectors

KARACHI: The stock market gained 200 points on Tuesday owing to enhanced trading activity seen in cement and energy sectors. The benchmark KSE-100 of Pakistan Stock Exchange (PSX) closed at 46,287 points as against 46,088 points showing an increase of 200 points. Analysts at Arif Habib Limited said that the market continued the buoyant mood […]

by Mrs. Anjum Shahnawaz

Rupee makes gain of 15 paisas against dollar

Jan 26

Money & Banking

Rupee makes gain of 15 paisas against dollar

KARACHI: The Pak Rupee gained 15 paisas against the dollar on Tuesday owing to improved supply of the foreign currency, dealers said. The rupee ended Rs160.64 to the dollar from previous day’s close of Rs160.79 in interbank foreign exchange market. The dealers said that the improved supply of the greenback helped the rupee to make […]

by Mrs. Anjum Shahnawaz

Jan 26

Finance

Remittances to remain strong for financing trade deficit: finance ministry

ISLAMABAD: The ministry of finance on Monday hoped the inflows of remittances to remain strong enough to support the financing of the trade deficit in coming months. In its monthly economic update and outlook – January 2021, the ministry said that the sudden surge in imports due to the increase in international oil prices and […]

by Mrs. Anjum Shahnawaz

Foreign investors repatriate $892 million during 1HFY21

Jan 26

Finance

Foreign investors repatriate $892 million during 1HFY21

KARACHI: The foreign companies operating in Pakistan have repatriated around $892 million as profit and dividend during first half (July – December) of fiscal year 2020/2021 (1HFY21), according to data released by State Bank of Pakistan (SBP) on Tuesday. The repatriation of profit and dividend was 6.7 percent higher when compared with $836 million in […]

by Mrs. Anjum Shahnawaz

Law prohibits arrest of women, minors for tax recovery

Jan 25

Taxation

Law prohibits arrest of women, minors for tax recovery

ISLAMABAD: Income tax law has prohibited tax officials from arresting any woman or a minor for recovery of tax default amount, officials at Federal Board of Revenue (FBR) said on Monday. They said that Commissioner Inland Revenue, having authority to recover tax amount by using various options defined under the law, has been prohibited to […]

by Mrs. Anjum Shahnawaz

Jazz awarded contract worth Rs254 million for broadband services

Jan 25

IT & Telecom

Jazz awarded contract worth Rs254 million for broadband services

ISLAMABAD: The Universal Service Fund (USF) has awarded contract worth Rs254 million to Jazz for providing high speed mobile broadband services in rural and remote areas of Punjab, a statement said on Monday. Federal Minister for IT and Telecommunication, Syed Amin Ul Haque and Federal Minister for Science and Technology, Fawad Chaudhry witnessed the contract […]

by Mrs. Anjum Shahnawaz

Industry rejects shutting down gas supply decision

Jan 25

Trade & Industry

Industry rejects shutting down gas supply decision

KARACHI: Trade and industry on Monday strongly rejected the government decision of discontinuing gas supply for export and manufacturing sectors. The industry will face the ever severe situation in the wake of discontinuation of gas supply to captive power generation for general industry from February 01 and the export-oriented sectors from March 01, 2021 leaving […]

by Mrs. Anjum Shahnawaz

Stock market gains 220 points on better results expectations

Jan 25

Stock & Commodity

Stock market gains 220 points on better results expectations

KARACHI: The stock market gained 220 points on Monday as major scrips contributed positively after expectation of better financial results. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,088 points as against the closing of last Friday 45,868 points, showing an increase of +220 points. Analysts at Arif Habib Limited said that […]

by Mrs. Anjum Shahnawaz

Rupee eases by four paisas against dollar

Jan 25

Money & Banking

Rupee eases by four paisas against dollar

KARACHI: The Pak Rupee eased by four paisas against the dollar on Monday owing to demand of the foreign currency for import and corporate payments. The rupee ended Rs160.79 to the dollar from last Friday’s closing of 160.75 in the interbank foreign exchange market. Currency dealers said that the rupee remained under pressure due to […]

by Mrs. Anjum Shahnawaz

FBR receives 3.06 million record high income tax returns for Tax Year 2019

Jan 25

Taxation

FBR receives 3.06 million record high income tax returns for Tax Year 2019

ISLAMABAD: Federal Board of Revenue (FBR) has received a record high of income tax returns at 3.06 million for tax year 2019, according to the weekly Active Taxpayers List (ATL) issued on Monday. The number of returns for tax year 2019 is based on returns filed till January 24, 2021. The record return filing was […]

by Mrs. Anjum Shahnawaz