OGDCL discovers gas reserves in Khyber Pakhtunkhwa

Sep 7

Energy

OGDCL discovers gas reserves in Khyber Pakhtunkhwa

KARACHI: Oil and Gas Development Company Limited (OGDCL) on Tuesday announced the discovery of natural gas in the province of Khyber Pakhtunkhwa, Pakistan. In a communication shared with the Pakistan Stock Exchange (PSX), the OGDCL said that the company being operator of Wali Exploration License with 100 per cent working interest had made a gas […]

by Hamza Shahnawaz

Employers to deduct tax on salary income

Sep 7

Taxation

Employers to deduct tax on salary income

Section 149 of Income Tax Ordinance, 2001 described that employers shall deduct tax at the time paying salary to their employees. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 149 of Income Tax Ordinance, […]

by Faisal Shahnawaz

Advance tax on imports to be collected by Customs

Sep 7

Taxation

Advance tax on imports to be collected by Customs

Section 148 of Income Tax Ordinance, 2001 provides that Pakistan Customs will collect the advance tax from every importer. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 148 of Income Tax Ordinance, 2001: 148. […]

by Faisal Shahnawaz

Advance tax from provincial registered taxpayers

Sep 7

Taxation

Advance tax from provincial registered taxpayers

Section 147A of Income Tax Ordinance, 2001 tells about the advance tax from provincial registered taxpayers. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021. Following is the text of Section 147A of Income Tax Ordinance, 2001: 147A. Advance tax from […]

by Faisal Shahnawaz

Sep 7

Taxation

Taxpayers liable to pay advance tax

Section 147 of Income Tax Ordinance, 2001 explains the taxpayers liable to pay advance tax. The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through Finance Act, 2021.

by Faisal Shahnawaz

Shares come down on MSCI reclassification

Sep 7

Stock & Commodity

Shares come down on MSCI reclassification

KARACHI: The share market fell by 188 points on Tuesday a brink of an important MSCI decision regarding reclassification of Pakistan from Emerging Market Index to Frontier markets Index. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 46,730 points as against the previous day’s close of 46,919 points, showing a decline of […]

by Faisal Shahnawaz

FBR announces transfers of senior tax auditors

Sep 7

Taxation

FBR announces transfers of senior tax auditors

The Federal Board of Revenue (FBR) has announced the transfers and postings of senior auditors, effective immediately and until further orders.

by Hamza Shahnawaz

Sep 7

Money & Banking

KIBOR rates on September 07, 2021

KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on September 07, 2021. Tenor BID OFFER 1 – Week 6.91 7.41 2 – Week 6.95 7.45 1 – Month 7.00 7.50 3 – Month 7.13 7.38 6 – Month 7.29 7.54 9 – Month 7.38 7.88 1 – Year 7.49 7.99

by Faisal Shahnawaz

Foodpanda to deliver medicines through pandago

Sep 7

Corporate

Foodpanda to deliver medicines through pandago

LAHORE: Enhancing the e-commerce avenues, Foodpanda has partnered with Servaid Pharmacy to deliver medicines and other pharmaceutical products via pandago, a rider on demand service. A signing ceremony took place in Lahore, attended by Raafay Munir, Head of New Verticals foodpanda, and Tahir Abbas, Chief Commercial Officer Servaid. Under the strategic partnership, foodpanda’s wide network […]

by Hamza Shahnawaz

PIA transports 5.9 million new batch of COVID vaccines

Sep 7

National

PIA transports 5.9 million new batch of COVID vaccines

BEIJING: Pakistan International Airlines (PIA), the national flag carrier of the country, has transported 5.9 million doses of COVID-19 vaccines through two special flights from China. The PIA through its two special cargo flights transported a new batch of 5.9 million doses of vaccines from Beijing Capital International Airport to Islamabad. Special cargo flights – […]

by Hamza Shahnawaz