Apr 1

Taxation

FBR transfers IR BS-20 officers

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday notified transfers and postings of BS-20 officers of Inland Revenue Service (IRS). Following officers have been transferred: 01.Tariq Hussain Sheikh (Inland Revenue Service/BS-20) has been transferred and posted as Chief, Federal Board of Revenue (Hq), Islamabad / Project Director (Track and Trace System / Video Analytic System), […]

by Mrs. Anjum Shahnawaz

SRB posts 22.7pc growth in March collection

Apr 1

Taxation

SRB posts 22.7pc growth in March collection

KARACHI: Sindh Revenue Board (SRB) has registered 22.7 percent growth in collection of sales tax on services during the month of March 2021 despite adverse effect of coronavirus on businesses. According to data released by the provincial revenue authority, the collection was Rs11.46 billion in March 2021 as compared with Rs9.34 billion in the same […]

by Mrs. Anjum Shahnawaz

Pakistan’s foreign exchange reserves increase by $401 million to $20.836 billion

Apr 1

Finance

Pakistan’s foreign exchange reserves increase by $401 million to $20.836 billion

KARACHI – In a significant development, Pakistan’s liquid foreign exchange reserves witnessed a robust increase of $401 million, reaching $20.836 billion by the week ending March 26, 2021, according to the State Bank of Pakistan (SBP).

by Mrs. Anjum Shahnawaz

Call centers: SBP issues instructions to banks for customers’ protection

Apr 1

Money & Banking

Call centers: SBP issues instructions to banks for customers’ protection

KARACHI: The State Bank of Pakistan (SBP) on Thursday issued instruction to banks for protection of customers’ identity while making communication through call centers. The SBP said that to ensure confidentiality of consumers’ data, banks will put in place adequate controls at their call centers including continuous CCTV vigilance, physical entry and exit checks, restriction […]

by Mrs. Anjum Shahnawaz

Share market declines by 160 points in range bound trading

Apr 1

Stock & Commodity

Share market declines by 160 points in range bound trading

KARACHI: The share market declined by 160 points on Thursday in a range bound trading activity during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 44,428 points as against previous day’s closing of 44,588 points, showing a decline of 160 points. Analysts at Arif Habib Limited said that the market […]

by Mrs. Anjum Shahnawaz

Rupee slips by 54 paisas on import, corporate payment demand

Apr 1

Money & Banking

Rupee slips by 54 paisas on import, corporate payment demand

KARACHI: The Pak Rupee slipped by 54 paisas on Thursday owing to high demand for import and corporate payments. The rupee ended Rs153.30 to the dollar from previous day’s closing of Rs152.76 in the interbank foreign exchange market. Currency dealers said market witnessed high demand of the foreign currency for import and corporate payments during […]

by Mrs. Anjum Shahnawaz

Monthly exports in March 2021 highest in decade: Razak Dawood

Apr 1

Finance

Monthly exports in March 2021 highest in decade: Razak Dawood

In a significant economic development, Pakistan’s exports soared to $2.345 billion in March 2021, marking a remarkable 13.4 percent increase compared to February 2021.

by Mrs. Anjum Shahnawaz

FBR issues list of non-profit organizations eligible for tax credit

Apr 1

Taxation

FBR issues list of non-profit organizations eligible for tax credit

ISLAMABAD: Federal Board of Revenue (FBR) has restricted the benefit of tax concession to 62 non-profit organizations (NPOs) under Tax Laws (Second Amendment) Ordinance, 2021. 1. any Sports Board or institution recognised by the Federal Government for the purposes of promoting, controlling or regulating any sport or game 2. The Citizens Foundation. 3. Fund for […]

by Mrs. Anjum Shahnawaz