Nov 8

Inflation is core issue in Pakistan: PM Imran

ISLAMABAD: Prime Minister Imran Khan on Monday said that currently inflation is the core issue in Pakistan. The prime minister said that due to recent inflationary trend in international commodity market, inflation is the core issue in Pakistan currently. “We are working hard to ensure effective monitoring of prices of essential commodities through good governance […]

by Mrs. Anjum Shahnawaz

USC automation to ease provision of targeted subsidy

Nov 8

National

USC automation to ease provision of targeted subsidy

ISLAMABAD: The automaton of Utility Stores Corporation (USC) will help the government provide targeted subsidy to beneficiaries under Ehsaas Program. Federal Minister for Industries and Production Makhdum Khusro Bakhtyar presided over the meeting on the progress of digitalization and automation program of Utility Store Corporation under the Digital Pakistan Initiative. The meeting was attended by […]

by Faisal Shahnawaz

FPCCI disagrees with high markup on SME financing

Nov 8

Money & Banking, Trade & Industry

FPCCI disagrees with high markup on SME financing

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has denounced high mark-up rate on financing to Small and Medium Enterprises (SMEs) under a scheme announced by the State Bank of Pakistan (SBP). In a statement on Monday, FPCCI President Mian Nasser Hyatt Maggo expressed shock over the interest rate of up to 9 […]

by Faisal Shahnawaz

Nov 8

Corporate, Stock & Commodity

AHL makes winning history at CFA Awards

KARACHI: Arif Habib Limited (AHL), Pakistan’s leading Brokerage and Investment Banking Firm, makes history by winning the awards of “Best Brokerage House”, “Best Corporate Finance House”, “Best Economic Research House” and “Best Research Analyst” by CFA Society Pakistan in their 18th Excellence Awards for 2020. The occasion was graced by Shaukat Tarin, Advisor to the […]

by Faisal Shahnawaz

Consumer confidence declines sharply on high inflation

Nov 8

Finance, National, Top stories

Consumer confidence declines sharply on high inflation

KARACHI: The Consumer Confidence Index (CCI) has declined sharply to 70.8 points in the third quarter of 2021, compared to 88.0 points in the second quarter of 2021, translating into 19.6 per cent decrease.

by Hamza Shahnawaz

Nov 8

Money & Banking

KIBOR rates on November 08, 2021

KARACHI: State Bank of Pakistan (SBP) on Monday issued the following Karachi Interbank Offered Rates (KIBOR) on November 08, 2021. Tenor BID OFFER 1 – Week 7.24 7.74 2 – Week 7.28 7.78 1 – Month 7.36 7.86 3 – Month 8.33 8.58 6 – Month 8.62 8.87 9 – Month 8.87 9.37 1 – Year 9.04 9.54

by Faisal Shahnawaz

Stocks fall by 181 points on inflation concerns

Nov 8

Stock & Commodity

Stocks fall by 181 points on inflation concerns

KARACHI: The stocks fell by 181 points on Monday in rang bound trading as inflationary concerns are heating up among investors. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 47,115 points as against 47,296 points. Analysts at Arif Habib Limited said that the market continued to remain range-bound today as inflationary concerns […]

by Mrs. Anjum Shahnawaz

Nov 8

Money & Banking

Rupee ends down by 50 paisas to dollar

KARACHI: The Pak Rupee (PKR) fell by 50 paisas against the dollar on Monday owing to higher demand for import payments during the day. The rupee ended Rs170.51 to the dollar from last Friday’s closing of Rs170.01 in the interbank foreign exchange market. Earlier, in the day the rupee had recovered some value but later […]

by Hamza Shahnawaz

SBP issues customers exchange rates for November 08

Nov 8

Money & Banking

SBP issues customers exchange rates for November 08

Karachi, November 08, 2021 – The State Bank of Pakistan (SBP) has unveiled the official exchange rates for customers as of November 08, 2021.

by Faisal Shahnawaz

Approval of gratuity funds by Commissioner IR

Nov 8

Taxation

Approval of gratuity funds by Commissioner IR

Part III, Sixth Schedule of Income Tax Ordinance, 2001 has explained the procedure for the grant of approval to gratuity funds for treatment of income tax. by Commissioner Inland Revenue (IR). The Federal Board of Revenue (FBR) issued the Income Tax Ordinance, 2001 updated up to June 30, 2021. The Ordinance incorporated amendments brought through […]

by Faisal Shahnawaz