Feb 17

Portal launched for expeditious corporate bank account opening

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has launched a portal for expeditious bank account opening for newly registered companies, a statement said on Wednesday. The online portal provides banks real time access to statutory records of companies, thus enabling them to open corporate accounts without seeking physically certified copies of statutory documents, […]

by Mrs. Anjum Shahnawaz

People urged to use CNICs for heavy amount transactions

Feb 17

Taxation

People urged to use CNICs for heavy amount transactions

ISLAMABAD: Special Assistant to Prime Minister on Revenue Dr. Waqar Masood on Wednesday urged people to use their Computerized National Identity Cards (CNICs) at the time of making heavy amount transactions. This will help avoid, unverifiable and fictitious business buyers which results in huge sales tax losses in the value chain, he added. He said […]

by Mrs. Anjum Shahnawaz

Stock market sheds 100 points on profit booking

Feb 17

Stock & Commodity

Stock market sheds 100 points on profit booking

KARACHI: The stock market fell by 100 points on Wednesday as profit booking seen during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 46,768 points as against previous day’s closing of 46,868 points showing a decline of 100 points. Analysts at Arif Habib Limited said that the market oscillated between […]

by Mrs. Anjum Shahnawaz

PSL becomes nuisance for citizens: Karachi Chamber

Feb 17

Trade & Industry

PSL becomes nuisance for citizens: Karachi Chamber

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) on Wednesday expressed dissatisfaction over traffic management during Pakistan Super League (PSL) sixth edition saying that the return of cricket in metropolis has become the biggest source of nuisance for Karachiites. In a statement Chairman Businessmen Group (BMG) & Former President Karachi Chamber of Commerce & Industry […]

by Mrs. Anjum Shahnawaz

Feb 17

Taxation

43 IR officers promoted to BS-18

ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday promoted 43 officers of Inland Revenue Service (IRS) from BS-17 to BS-18 on regular basis. The notified promotion will take with immediate effect. Following are the officers who are promoted to BS-18: 1. Azzam-ul-Asad Mazhar 2. Hayat Omer Malik 3. Ms. Tooba Ahmed Khan 4. Ms. Saman […]

by Mrs. Anjum Shahnawaz

Feb 17

Money & Banking

Rupee gains 28 paisas against dollar

KARACHI: The Pak Rupee made gain of 28 paisas against the dollar on Wednesday after positive sentiments prevailed on upcoming transfers of $500 million from the International Monetary Fund (IMF). The rupee ended Rs159.26 to the dollar from previous day’s closing of Rs159.54 in the interbank foreign exchange market. Currency experts said that market was […]

by Mrs. Anjum Shahnawaz

Habib Bank posts 100 percent growth in annual profit

Feb 17

Corporate, Money & Banking

Habib Bank posts 100 percent growth in annual profit

KARACHI: Habib Bank Limited on Wednesday declared 100 percent growth in net profit for the year ended December 31, 2020. The bank recorded after tax profit of Rs31 billion for the year 2020 as compared with Rs15.5 billion in the preceding year. The healthy annual profit can be attributed to gain on securities of Rs7 […]

by Mrs. Anjum Shahnawaz

Allied Bank declares 28pc growth in annual profit

Feb 17

Corporate, Money & Banking

Allied Bank declares 28pc growth in annual profit

KARACHI: Allied Bank Limited on Wednesday announced 28 percent growth in net profit for the year ended December 31, 2020. The bank recorded after tax profit of Rs18.03 billion for the year 2020 as compared with Rs14.11 billion in the preceding year. The healthy annual profit can be attributed to gain on securities of Rs3.42 […]

by Mrs. Anjum Shahnawaz

SECP issues list of approved CA firms for audit of insurance companies

Feb 17

Stock & Commodity

SECP issues list of approved CA firms for audit of insurance companies

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) on Tuesday issued a list of chartered accountant (CA) firms to conduct audit of insurance companies. Following is the list of approved auditors to conduct audit of insurance, re-insurance and Takaful entities: Category ‘A’ Firms: 01. A. F. Ferguson & Co. Chartered Accountants 02. Grant Thornton […]

by Mrs. Anjum Shahnawaz