KARACHI: The State Bank of Pakistan (SBP) on Wednesday said that the after tax earnings of the banking sector surged by around 43 per cent in calendar year 2020. The SBP in its financial stability review 2020, stated that drastic cut in policy rate during March to June 2020 transmitted into lower funding costs on […]
ISLAMABAD: Federal Board of Revenue (FBR) on Wednesday constituted a committee to formulate parameters for imposing penalties against non-compliance of invoice and packing list. A spokesman said that the Federal Board of Revenue (FBR) has constituted a committee of senior Customs officers to formulate rules to implement Section 156(I) of the Customs Act, 1969, which […]
Bitcoin and other crypto currencies are not recognized as legal tender in Pakistan. The SBP has advised the general public that Virtual Currencies/Coins/Tokens (like Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin, Pay Diamond etc.) are neither recognized as a Legal Tender nor has SBP authorized or licensed any individual or entity for the issuance, sale, purchase, exchange […]
KARACHI: The stock market ended down by 98 points on Wednesday as selling pressure continued during the day. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,248 points as against previous day’s closing of 47,346 points, showing a decline of 98 points. Analysts at Arif Habib Limited said that the market faced […]
ISLAMABAD: The Competition Commission of Pakistan (CCP) on Wednesday said it initiated a probe against the online food delivery service platform/aggregator, Foodpanda, to investigate its alleged abuse of dominant position and possible violation of prevailing laws, in the market of online food delivery platforms. The CCP said that the enquiry committee will also review and […]
KARACHI: The Pak Rupee ended down by 55 paisas against the dollar on Wednesday owing to demand for oil and other import payments. The rupee ended at Rs158.92 to the dollar from the previous day’s closing of Rs158.37 in the interbank foreign exchange market. Currency experts said that the rupee depreciated due to higher demand […]
KARACHI: State Bank of Pakistan (SBP) on Wednesday issued following Karachi Interbank Offered Rates (KIBOR) on July 07, 2021. Tenor BID OFFER 1 – Week 6.92 7.42 2 – Week 6.96 7.46 1 – Month 7.01 7.51 3 – Month 7.18 7.43 6 – Month 7.40 7.65 9 – Month 7.51 8.01 1 – Year […]
KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued customers’ exchange rates on the basis of weighted average rates of commercial banks. The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients. They […]
KARACHI: The Federal Board of Revenue (FBR) has slashed regulatory duty up to half on export of goods. The FBR issued SRO 843(I)/2021 dated June 30, 2021 to amend the SRO 645(I)/2018 dated May 24, 2018, which is related to regulatory duty on export of goods. According to the latest SRO the regulatory duty on […]
The Federal Board of Revenue (FBR) has announced the imposition of additional customs duty (ACD) ranging from 2% to 7% on specific imports falling under various tariff slabs, with the new rates taking effect from July 1, 2021.