Pkrevenue.com

Day: September 15, 2021

  • Petrol price increased to all-time high at Rs123.30/liter

    Petrol price increased to all-time high at Rs123.30/liter

    ISLAMABAD: The price of motor spirit (petrol) has been increased to all-time high at Rs123.30 per liter and will take effect from September 16, 2021.

    The Finance Division on Wednesday issued the rates of petroleum products for the next fortnight. The government has increased the prices of all petroleum products for the next 15 days.

    The government has increased the prices owing to fluctuations in petroleum prices in the international market and exchange rate variation.

    Following are the rates of petroleum products, which will take effect from September 16, 2021:

    The rate of petrol has been increased by Rs5 to Rs123.30 per liter from Rs118.30.

    The rate of high-speed diesel has been increased by Rs5.01 to Rs120.04 per liter from Rs115.03.

    The rate of kerosene oil has been increased by Rs5.46 to Rs92.26 per liter from Rs86.80.

    The rate of light diesel oil has been increased by Rs5.92 to Rs90.69 from Rs84.77.

    Prices of all petroleum products reduced
  • Telenor gets Rs1.36bn contract for broadband services

    Telenor gets Rs1.36bn contract for broadband services

    ISLAMABAD: Telenor has been granted a contract worth Rs1.36 billion for providing high speed broadband services in Chaghi and Nushki districts of Balochistan.

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  • Active taxpayers’ list under ITO

    Active taxpayers’ list under ITO

    The Federal Board of Revenue (FBR) has fortified its tax administration toolkit with Section 181A of the Income Tax Ordinance, 2001, which delineates the creation and regulation of the Active Taxpayers’ List (ATL).

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  • Registration of taxpayers for income tax

    Registration of taxpayers for income tax

    Section 181 of the Income Tax Ordinance, 2001 provides a framework for the registration of taxpayers.

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  • PSO’s prudent planning helps considerable savings

    PSO’s prudent planning helps considerable savings

    KARACHI: Prudent planning and strategic thinking. Pakistan State Oil (PSO) has enabled considerable savings and created value for end users by taking the following steps:

    As of today, PSO has scrapped the spot tender for October 22-23, 2021, and replaced it with cargo under the long-term contract from Qatar Gas using contractual provisions and prudent rescheduling, said a statement issued on Wednesday.

    PSO strategically planned for winters (Jan-Feb 2021 & Nov-Dec 2021) in advance, when spot prices are usually at their highest, and arranged 28 cargoes instead of 20 under long-term contracts (6 cargos each in Jan and February 2021 & 7 cargoes each in November and December 2021). This has been planned to meet the ever-increasing gas demand in winters at the lowest possible rates. Compared with current spot market rates, this translates into approximate savings of $295 million.

    PSO has also enabled considerable savings by reducing the number of spot cargoes from 12 to 4 in the year 2021 using contractual provisions available while maximizing long-term cargoes through contracts from 60 to 70.

     Furthermore, the company has reduced the suspension period of LNG supply in Sep 2021 owing to scheduled FSRU dry dock activity from approximate 90 hours to 60, by bringing the FSRU laden with cargo under the long-term contract with Qatar, thereby curtailing the downtime for the industry and saving considerable cost to the economy.

    PSO is committed to safeguarding Pakistan’s national interest through effective planning and making the best possible decisions.

    PSO posts highest ever annual net profit of Rs29.1bn
  • Ufone awarded Next Generation MS spectrum

    Ufone awarded Next Generation MS spectrum

    ISLAMABAD: Pakistani Telecom Company, Ufone has been awarded Next Generation Mobile Services (NGMS) spectrum by Pakistan Telecommunication Authority (PTA) as a result of recently held spectrum auction.

    The company won the spectrum in a bid to enhance 4G customer experience across the country.

    Federal Minister for IT & Telecom, Syed Aminul Haq along with Secretary IT & Telecom, Dr. Muhammad Sohail Rajput, Chairman PTA, Major General Amir Azeem Bajwa (Retd.) HI (M), senior officials from the ministry and PTCL Group attended the event. DG Licensing PTA, Brig. Amer Shahzad (Retd.) and President and Group CEO, PTCL & Ufone, Hatem Bamatraf signed the contract.

    The company plans to use the spectrum to introduce new innovative products and services and enhance its customer experience by providing high-quality internet as well as to expand its existing network to unserved and underserved regions of the country.

    Sharing his thoughts on spectrum acquisition, President and Group CEO, PTCL & Ufone, Hatem Bamatraf said: “It is a historic day for Ufone, as we have acquired additional 4G Spectrum in order to fully optimize our mobile data services. This will enable us to further enhance our users’ experience, expand the existing network to serve the unserved areas. Improved data experience will enable a digital transformation in education, health care, agriculture, banking and ecommerce ecosystems to name a few.”

    “We appreciate Government of Pakistan for executing the spectrum auction process in a seamless and transparent manner”, he further added.

    The additional spectrum will enable Ufone to not only connect Pakistanis living in far flung areas without cellular services but will also enable people in urban centers and towns to enjoy new sets of innovative products and unmatched experience.

    Pakistan produces 12.27mn mobile phones in 7 months
  • KIBOR rates on September 15, 2021

    KIBOR rates on September 15, 2021

    KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the following Karachi Interbank Offered Rates (KIBOR) on September 15, 2021.

     TenorBIDOFFER
    1 – Week6.897.39
    2 – Week6.957.45
    1 – Month7.047.54
    3 – Month7.237.48
    6 – Month7.497.74
    9 – Month7.578.07
    1 – Year7.668.16
    KIBOR+ additional amount to be paid for delayed refunds
  • SBP enables account opening through digital channels

    SBP enables account opening through digital channels

    KARACHI: The State Bank of Pakistan (SBP) on Wednesday said with the rapid growth in adoption of electronic banking channels, especially amidst the COVID-19 pandemic, the demand from bank and customers for digital financial transactions have increased manifold.

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  • KSE-100 index declines by 175 points on PKR lows

    KSE-100 index declines by 175 points on PKR lows

    KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 175 points on Wednesday owing to historic low of Pak Rupee (PKR) against the dollar.

    The index closed at 46,717 points as against previous day’s closing of 46,891.

    Analysts at Arif Habib Limited said that the market continued the downtrend following the slippage in PKR parity with USD that deteriorated further to touch 169.70 in interbank and crossed 170 in open market.

    Unabated foreign selling coincided with local mutual funds disposing positions on the pretext of redemptions. Cement, E&P, O&GMCs, Refinery sectors bore the brunt of persistent selling. Limited buying interest was observed in Technology stocks which came down in the past couple of sessions.

    Among scrips, TPL led the volumes table with 29.6 million shares, followed by TELE (28.1 million) and BYCO (23.2 million).

    Sectors contributing to the performance include Cement (-83 points), Textile (-22 points), Pharma (-21 points), E&P (-20 points) and Banks (+45 points).

    Volumes declined from 479.8 million shares to 332.8 million shares (-31 per cent DoD). Average traded value also dropped by 24 per cent to reach US$ 67.6 million as against US$ 88.9 million.

    Stocks that contributed significantly to the volumes include TPL, TELE, BYCO, SERFR and WTL, which formed 36 per cent of total volumes.

    Stocks that contributed positively to the index include UBL (+30 points), TRG (+22 points), FFBL (+15 points), BAHL (+15 points) and FABL (+12 points). Stocks that contributed negatively include MLCF (-21 points), HMB (-18 points), SYS (-17 points), AGP (-17 points) and MEBL (-16 points).

    PKR touches new historic low at Rs169.12 against dollar
  • FBR can obtain information of exempt income

    FBR can obtain information of exempt income

    The Federal Board of Revenue (FBR) has fortified its ability to gather information on incomes from industrial and commercial undertakings exempt from tax.

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