Feb 26

Stock market falls by 101 points amid rang bound trading

KARACHI: The stock market fell by 101 points on Friday after trading in range bound activity during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 45,865 points as against last day’s closing of 45,966 points showing a decline of 101 points. Analysts at Arif Habib Limited said that the market […]

by Mrs. Anjum Shahnawaz

Feb 26

Pakistan Customs

13 Customs officers promoted to BS-20

ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified promotions of 13 officers of Pakistan Customs Service (PCS) from BS-19 to BS-20 on regular basis with immediate effect. Following Customs officers have been promoted to BS-20: 1. Hassan Saqib Sheikh 2. Masood Ahmed 3. Fayaz Rasool 4. Sanaullah Abro 5. Muhammad Tahir 6. Muhammad Saleem […]

by Mrs. Anjum Shahnawaz

Feb 26

Taxation

FBR promotes 24 IRS officers to BS-20

ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified promotions of 24 officers of Inland Revenue Service (IRS) from BS-19 to BS-20 on regular basis with immediate effect. Following IRS officers have been promoted to BS-20: 1. Muhammad Safdar 2. Muhammad Abu Bakar Siddique 3. Ms. Tajamal Bilquis 4. Ms. Fauzia Adil 5. Dr. Razi-ur-Rehman […]

by Mrs. Anjum Shahnawaz

Feb 26

Taxation

10 IRS officers promoted to BS-21

ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified promotions of 10 BS-20 officers of Inland Revenue Service (IRS) to BS-21 on regular basis with immediate effect. Following officers have been promoted to BS-21: 1. Tariq Mustafa Khan 2. Mir Badshah Khan Wazir 3. Malik Amjad Zubair Tiwana 4. Muhammad Azam Sheikh 5. Mehmood Hussain […]

by Mrs. Anjum Shahnawaz

FBR notifies promotions of Customs officers to BS-21

Feb 26

Pakistan Customs

FBR notifies promotions of Customs officers to BS-21

ISLAMABAD: Federal Board of Revenue (FBR) on Friday notified promotions of BS-20 officers of Pakistan Customs Service (PCS) to BS-21 on regular basis with immediate effect. Following officers have been promoted to BS-21: 1. Muhammad Iqbal Bhawana 2. Wajid Ali 3. Ms. Rabab Sikandar 4. Zulfiqar Younus 5. Ms. Shahnaz Maqbool 6. Ahmad Rauf 7. […]

by Mrs. Anjum Shahnawaz

SBP updates panel of chartered accountancy firms for audit of banks

Feb 26

Money & Banking

SBP updates panel of chartered accountancy firms for audit of banks

KARACHI: State Bank of Pakistan (SBP) has updated the list of panel of chartered accountancy firms for conducting audit of banking companies. The SBP through a circular issued on Friday informed that “RSM Avais Hyder Liaquat Nauman, Chartered Accountants’, listed in the Category ‘B’ of SBP’s Panel of Auditors is being upgraded to the Category […]

by Mrs. Anjum Shahnawaz

Rupee maintains recovery against dollar for five consecutive days

Feb 26

Money & Banking

Rupee maintains recovery against dollar for five consecutive days

KARACHI: The Pak Rupee maintained its recovery against the dollar for five consecutive trading days on Friday owing to optimism prevailed especially after FATF praised Pakistan for taking measures against money laundering and financing the terrorism. The rupee gained by 36 paisas to close at Rs158.10 to the dollar on Friday as compared with previous […]

by Mrs. Anjum Shahnawaz

PPL declares 18pc decline in gross profit in first half

Feb 26

Corporate, Energy

PPL declares 18pc decline in gross profit in first half

KARACHI: Pakistan Petroleum Limited (PPL) on Friday declared 18 percent decline in its gross profit for the period July – December 2020. However, drastic reduction in exploration expenses and other charges the net profit (after payment of tax) of the company managed to post a growth of 7 percent for the period. The company declared […]

by Mrs. Anjum Shahnawaz

UBL declares Rs20.9bn as annual after tax profit

Feb 26

Corporate, Money & Banking

UBL declares Rs20.9bn as annual after tax profit

KARACHI: United Bank Limited (UBL) on Thursday announced its financial results for the year ended December 31, 2020. The bank made provisioning and write-offs to the tune of Rs16.77 billion or 104 percent higher which trimmed its annual profit growth to 9.25 percent. The bank announced an amount of Rs20.9 billion as profit after tax […]

by Mrs. Anjum Shahnawaz

Bank irrationally deducts withholding tax from tax filer

Feb 26

Money & Banking

Bank irrationally deducts withholding tax from tax filer

KARACHI: A bank has deducted irrationally a huge amount as withholding tax from transactions made by an account holder. The account holder was return filer and filed a complained before the office of Banking Mohtasib Pakistan for payment of refund from the concerned bank. The Mohtasib after considering all aspects of the case, ordered the […]

by Mrs. Anjum Shahnawaz