Prime Minister directs action against profiteers

Jul 26

National

Prime Minister directs action against profiteers

ISLAMABAD: Prime Minister Imran Khan on Monday directed authorities to take stern action against profiteers to ensure fair prices of essential items. The prime minster chaired a review meeting on commodity prices. He directed that Tehsil and District Administration along with Competition Commission of Pakistan should ensure fair prices of food items by taking action […]

by Faisal Shahnawaz

FBR redefines Tier-1 retailers for integration

Jul 26

Taxation

FBR redefines Tier-1 retailers for integration

The Federal Board of Revenue (FBR) has redefined Tier-1 retailers, making it mandatory for them to integrate sales data on a real-time basis.

by Mrs. Anjum Shahnawaz

Tax law allows deductions against business income

Jul 26

Taxation

Tax law allows deductions against business income

KARACHI: Income Tax Ordinance, 2001 has allowed certain deductions against income from business for calculation of tax liability.

by Faisal Shahnawaz

FBR reduces sales tax rate on petrol to 10.77%

Jul 26

Energy, Taxation

FBR reduces sales tax rate on petrol to 10.77%

In a move aimed at providing relief to consumers, the Federal Board of Revenue (FBR) has announced a reduction in the sales tax rate on the supply of petrol. The new rate, effective immediately, is set at 10.77%, down from the previous rate of 16.40%.

by Mrs. Anjum Shahnawaz

FPCCI opposes new SOPs by Sindh government

Jul 26

Trade & Industry

FPCCI opposes new SOPs by Sindh government

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the apex trade body of the country, has voiced concerns over the enforcement of new Standard Operating Procedures (SOPs) for COVID-19 prevention by the Sindh government.

by Mrs. Anjum Shahnawaz

Jul 26

Money & Banking

KIBOR rates on July 26, 2021

KARACHI, July 26, 2021 – The State Bank of Pakistan (SBP) has released the Karachi Interbank Offered Rates (KIBOR) for various tenors on Monday, providing insight into the prevailing borrowing and lending rates in the interbank market.

by Faisal Shahnawaz

Jul 26

Stock & Commodity

KSE-100 index ends down by 120 points

KARACHI: The Pakistan Stock Exchange (PSX) ended down by 120 points on Monday. The benchmark KSE-100 closed at 47,673 points as against last Friday’s closing of 47,793 points. Analysts at Topline Research said that the index opened the day in the positive territory. Initially it reached to an intra-day high of 47,930 points. But it […]

by Mrs. Anjum Shahnawaz

Jul 26

Money & Banking

Dollar falls by Rs1.09 in interbank

KARACHI: The Pak Rupee recovered Rs1.09 against the dollar on Monday. The sharp recovery can be attributed to significant increase in foreign exchange reserves. The rupee ended at Rs161.23 to the dollar from last Friday’s closing of Rs162.32 in the interbank foreign exchange market. The foreign exchange reserves of the country reached $25.128 billion after […]

by Faisal Shahnawaz

SBP issues customers exchange rates for July 26

Jul 26

Money & Banking

SBP issues customers exchange rates for July 26

KARACHI: The State Bank of Pakistan (SBP) on Monday issued customers’ exchange rates. The exchange rate is on the basis of weighted average rates of commercial banks. The SBP said the data compiled and disseminated for information only. These exchange rates are estimates that quoted by various commercial banks to their clients. The banks provide […]

by Faisal Shahnawaz

SBP likely to keep policy rate unchanged at 7%

Jul 26

Money & Banking

SBP likely to keep policy rate unchanged at 7%

KARACHI: The State Bank of Pakistan (SBP) has scheduled to announce monetary policy for next two months on Tuesday July 27, 2021. The present key policy rate is 7 per cent. Analysts believe that the central bank is likely to keep the policy rate unchanged. The analysts at Arif Habib Limited expect the SBP to […]

by Mrs. Anjum Shahnawaz