Oct 27

PSW to link 27 banks for trade facilitation

KARACHI: Naveed Abbas, Additional Director and Chief Domain Officer, Pakistan Single Window (PSW) has said that 27 banks will be integrated with the PSW for the facilitation of import and exports. He was addressing at an orientation session organized by Pakistan Hosiery Manufacturers & Exporters Association (PHMA) on Wednesday. He said that the facility will […]

by Mrs. Anjum Shahnawaz

Stocks gain 623 points amid new trading system halt

Oct 27

Stock & Commodity

Stocks gain 623 points amid new trading system halt

KARACHI: The stock market gained 623 points on Wednesday as new trading system suspended for more than two hours. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended 45,851 points from previous day’s closing of 45,228 points. Analysts at Topline Securities said that the KSE-100 index rose 1.38 per cent to settle the […]

by Mrs. Anjum Shahnawaz

Housing loan disbursement surges 84% by September

Oct 27

Housing loan disbursement surges 84% by September

KARACHI: Housing and construction loan disbursement by banks has reached Rs305 billion by the end of September 2021, which was Rs166 billion at the end of September last year, showing an increase of Rs139 billion and a year-on-year growth of 84 per cent, the State Bank of Pakistan (SBP) said on Wednesday. The banks have […]

by Faisal Shahnawaz

Tax rates on transfer of motor vehicles during TY22

Oct 27

Taxation

Tax rates on transfer of motor vehicles during TY22

The rates of income tax on transfer of motor vehicles during tax year 2022 to be applicable under Second Schedule of Income Tax Ordinance, 2001. 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 are the rates of income tax transfer […]

by Hamza Shahnawaz

Tax rates on telephone users during tax year 2022

Oct 27

Taxation, Top stories

Tax rates on telephone users during tax year 2022

The rates of income tax on telephone users for tax year 2022 to be applicable under Section Schedule of Income Tax Ordinance, 2001. 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 are the rates of […]

by Faisal Shahnawaz

Tarin directs provinces to finalize sugarcane price

Oct 27

Finance, Top stories

Tarin directs provinces to finalize sugarcane price

ISLAMABAD: Shaukat Tarin, Adviser to the Prime Minister on Finance and Revenue, on Wednesday directed all the provinces to finalize the indicative price of sugarcane at the earliest. He issued the directives while presiding over the National Price Monitoring Committee (NPMC). Chief Secretary Punjab apprised the NPMC that the crushing of sugarcane will begin by […]

by Faisal Shahnawaz

Oct 27

Corporate, Stock & Commodity

PSX declares Rs151 million as profit for first quarter

KARACHI: Pakistan Stock Exchange (PSX) on Wednesday declared Rs151 million as net profit for the first quarter ended September 30, 2021. The board of directors of the PSX in its meeting held on October 27, 2021 approved the first quarterly financial statements of the exchange for the period ended September 30, 2021. The board has […]

by Hamza Shahnawaz

Oct 27

Money & Banking

KIBOR rates on October 27, 2021

KARACHI: State Bank of Pakistan (SBP) on Wednesday issued the following Karachi Interbank Offered Rates (KIBOR) on October 27, 2021. Tenor BID OFFER 1 – Week 7.22 7.72 2 – Week 7.27 7.77 1 – Month 7.33 7.83 3 – Month 8.11 8.36 6 – Month 8.58 8.83 9 – Month 8.78 9.28 1 – Year 8.99 9.49

by Faisal Shahnawaz

Rupee rebounds 1.44% against dollar on Saudi package

Oct 27

Money & Banking, Top stories

Rupee rebounds 1.44% against dollar on Saudi package

KARACHI: The Pak Rupee (PKR) rebounded with a gain of Rs2.49 or 1.44 per cent against the dollar on Wednesday after an assistance package was announced for Pakistan. The rupee ended Rs172.78 to the dollar from the previous closing of Rs175.27 in the interbank foreign exchange market. A day earlier the Saudi government announced to […]

by Faisal Shahnawaz

SBP issues customers exchange rates for October 27

Oct 27

Money & Banking

SBP issues customers exchange rates for October 27

Karachi, October 27, 2021: The State Bank of Pakistan (SBP) has unveiled the official exchange rates for customers on this Wednesday, October 27, 2021.

by Faisal Shahnawaz