Sep 8

PHMA organizes seminar on export facilitation scheme

KARACHI: A seminar was organized by the Pakistan Hosiery Manufacturers and Exporters Association (PHMA) in collaboration with the Federal Board of Revenue (FBR) on new Export Facilitation Scheme 2021 (EFS 2021). The export facilitation scheme was notified through SRO957(I)/2021 dated July 30, 2021. The seminar was organized on Wednesday simultaneously at PHMA House, Karachi, Lahore, […]

by Mrs. Anjum Shahnawaz

Ericsson strengthens network services portfolio

Sep 8

IT & Telecom

Ericsson strengthens network services portfolio

KARACHI: Ericsson has strengthened its network services portfolio with the Intelligent Deployment solution – an agile, digital, and modular suite of tools and services that enable communications service providers to roll out, expand, and upgrade networks based on their specific needs and those of their customers, a statement said on Wednesday. With technology advancing rapidly, […]

by Mrs. Anjum Shahnawaz

Sep 8

Automotive, National

PM praises investment of Toyota Motors

ISLAMABAD: Prime Minister Imran Khan on Wednesday praised Toyota Motors for investing $100 million for locally production of hybrid electric vehicles.

by Faisal Shahnawaz

Payment to non-resident persons chargeable to tax

Sep 8

Taxation

Payment to non-resident persons chargeable to tax

Section 152 of Income Tax Ordinance, 2001 describes the payment to non-resident persons chargeable to tax.

by Faisal Shahnawaz

Financing for Mera Pakistan Mera Ghar gains momentum

Sep 8

Money & Banking

Financing for Mera Pakistan Mera Ghar gains momentum

KARACHI: State Bank of Pakistan (SBP) on Wednesday said that as a result of numerous measures of the SBP and full support of the government, bank lending for the government’s flagship markup subsidy scheme, commonly known as Mera Pakistan Mera Ghar (MPMG), has picked up momentum. Since the launch of the scheme, applications of Rs […]

by Mrs. Anjum Shahnawaz

Stocks sink on Pakistan Indexes downgraded by MSCI

Sep 8

Stock & Commodity

Stocks sink on Pakistan Indexes downgraded by MSCI

KARACHI: The stock market fell by 333 points on Wednesday as MSCI in its verdict decided to downgrade Pakistan from Emerging Markets to Frontier Market. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 46,397 points from the previous day’s closing of 46,730 points. Analysts at Topline Securities said that after a […]

by Faisal Shahnawaz

Provision related to withholding tax on profit on debt

Sep 8

Taxation

Provision related to withholding tax on profit on debt

Section 151 of Income Tax Ordinance, 2001 explains the provision related to withholding tax on profit on debt. 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 151 of Income Tax Ordinance, 2001: 151. Profit […]

by Faisal Shahnawaz

Rupee rebounds against dollar in interbank

Sep 8

Money & Banking

Rupee rebounds against dollar in interbank

KARACHI: The Pak Rupee (PKR) made a recovery against the dollar on Wednesday. The local currency gained value on inflows of export receipts and workers’ remittances. The rupee ended at Rs167.25 to the dollar from the previous day’s closing of Rs167.63 in the interbank foreign exchange market. Currency experts said that inflows of export receipts […]

by Faisal Shahnawaz

Sep 8

Money & Banking

KIBOR rates on September 08, 2021

KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the following Karachi Interbank Offered Rates (KIBOR) on September 08, 2021. Tenor BID OFFER 1 – Week 6.89 7.39 2 – Week 6.94 7.44 1 – Month 7.01 7.51 3 – Month 7.14 7.39 6 – Month 7.29 7.54 9 – Month 7.40 7.90 1 – Year 7.49 7.99

by Faisal Shahnawaz