Nov 18

PM Imran launches automation of power of attorney

ISLAMABAD: Prime Minister Imran Khan on Thursday launched the automation of power of attorney for overseas Pakistanis at a ceremony held at Prime Minister House. The Prime Minister said that it was a historic day for overseas Pakistanis as the digitalization of Power of Attorney will facilitate around 75,000 overseas Pakistanis annually. While stressing the […]

by Mrs. Anjum Shahnawaz

Nov 18

Money & Banking

KIBOR rates on November 18, 2021

KARACHI: State Bank of Pakistan (SBP) on Thursday issued the following Karachi Interbank Offered Rates (KIBOR) on November 18, 2021. Tenor BID OFFER 1 – Week 7.39 7.89 2 – Week 7.48 7.98 1 – Month 7.66 8.16 3 – Month 8.52 8.77 6 – Month 8.83 9.08 9 – Month 9.18 9.68 1 – Year 9.42 9.92

by Faisal Shahnawaz

Pakistan’s foreign exchange reserves slip to $23.55 bn

Nov 18

Finance

Pakistan’s foreign exchange reserves slip to $23.55 bn

KARACHI: The liquid foreign exchange reserves of the country slipped by $476 million to $23.55 billion by the week ended November 12, 2021, the State Bank of Pakistan (SBP) said on Thursday. The foreign exchange reserves of the country were at $24.026 billion by the week ended November 05, 2021. The official reserves of the […]

by Hamza Shahnawaz

KSE-100 index sheds 84 points in volatile trading

Nov 18

Stock & Commodity

KSE-100 index sheds 84 points in volatile trading

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) on Thursday lost 84 points amid volatile trading sessions observed during the day. The KSE-100 index closed at 46,110 points from the previous day’s closing of 46,194 pints. Analysts at Topline Securities said that the volatile session was observed at the bourse today with […]

by Faisal Shahnawaz

Foodpanda welcomes PRA tax concession to homechefs

Nov 18

Taxation, Trade & Industry

Foodpanda welcomes PRA tax concession to homechefs

LAHORE: Foodpanda, an online food delivery platform, has welcomed the reduction in sales tax by Punjab Revenue Authority (PRA) to homechefs – people operating from their homes. In order to create a favorable business environment, the PRA decided to reduce sales tax on services being charged on commissions for home-based chefs. The rebate reduced sales […]

by Hamza Shahnawaz

Aamir appointed Ericsson Pakistan country manager

Nov 18

Corporate, IT & Telecom

Aamir appointed Ericsson Pakistan country manager

KARACHI: Ericsson (NASDAQ:ERIC) has announced the appointment of Aamir Ahsan Khan as Country Manager of Ericsson Pakistan, according to a statement issued on Thursday. Aamir is set to lead a strong cross-functional team aided by a network of partners to support communication service providers and increase Ericsson’s digital footprint in the country. Having joined Ericsson […]

by Faisal Shahnawaz

Digital mode to disrupt business transactions: FPCCI

Nov 18

Taxation, Trade & Industry

Digital mode to disrupt business transactions: FPCCI

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has said that the digital mode of payment for corporate expenses would disrupt business transactions; because almost all sales in the country are made on credit and this credit is secured through ‘post-dated’ cheques issued by buyers in favor of the sellers. Mian Nasser Hayat […]

by Hamza Shahnawaz

Rupee falls by 91 paisas against dollar in interbank

Nov 18

Money & Banking

Rupee falls by 91 paisas against dollar in interbank

KARACHI: The Pak Rupee (PKR) fell by 91 paisas against the dollar on Thursday due to higher demand for import payments. The rupee ended Rs174.67 to the dollar from previous day’s closing of Rs173.76 in the interbank foreign exchange market. The rupee recorded a fall after the gain during past three straight days. Currency experts […]

by Faisal Shahnawaz

IR officer authorized to obtain sample for sales tax

Nov 18

Taxation

IR officer authorized to obtain sample for sales tax

Section 25A of the Sales Tax Act, 1990 authorized officer of Inland Revenue the authority to obtain samples of goods or raw materials for various purposes related to sales tax.

by Hamza Shahnawaz

SBP issues customers exchange rates for November 18

Nov 18

Money & Banking

SBP issues customers exchange rates for November 18

Karachi, November 18, 2021 – The State Bank of Pakistan (SBP) has released the official exchange rates for customers, effective as of November 18, 2021.

by Faisal Shahnawaz