Pakistan Revenue
KARACHI: The Pak Rupee recovered 40 paisas against dollar on Tuesday owing to significant reduction in current account deficit (CAD) and lower demand for import payments. The rupee ended Rs167.90 to the dollar from previous day’s closing of Rs168.30 in interbank foreign exchange market. Currency experts said that sharp contraction in annual current account deficit […]
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KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over huge amount of exemptions, concessions granted under Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTA). The apex trade body urged the government to redesign the FTAs and PTAs with a view to promote the domestic industry of Pakistan, as the […]
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KARACHI: Pakistan’s Current Account Deficit (CAD) has reduced by 78 percent owing to lower imports and better inflows. The CAD fell to $2.966 billion during fiscal year 2019/2020 as against the deficit of $13.434 billion in the preceding fiscal year. The import bill of the country fell by 19 percent to $44.57 billion during fiscal […]
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ISLAMABAD: The law of advance ruling for classification of goods or determination of origin has been implemented through Finance Act, 2020 from July 01, 2020. The National Assembly has approved the law of advance ruling that was proposed through Finance Bill, 2020. According to explanation issued by PWC A F Ferguson Chartered Accountants, the concept […]
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ISLAMABAD: Pakistan Telecommunication Authority (PTA) on Monday blocked social media Bigo and issued final warning to Tik Tok on complaints of obscene and vulgar content. The PTA said that it had received number of complaints from different segment of the society against immoral, obscene and vulgar content on social media applications particularly Tik Tok and […]
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KARACHI: The stock market gained 320 points on Monday as activities were seen in cement and power sector, analysts said. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 37,651 points as against 37,331 points showing an increase of 320 points. Analysts at Arif Habib Limited said that the benchmark index made yet […]
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KARACHI: The Pak Rupee weakened by 97 paisas to the dollar on Monday owing to higher demand for import and corporate payments. The rupee ended Rs168.30 to the dollar from last Friday’s closing of 167.33 in interbank foreign exchange market. Currency experts said that the due to first working day of the week the demand […]
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KARACHI: Mari Petroleum Company Limited (MPCL) on Monday announced discovery of gas from its exploratory well Hilal-1, drilled in Mari D&P Lease Area, located in Daharki, District Ghotki, Sindh. Hilal-1 was spud-in on April 21, 2020 and drilled down to the depth of 1,202m into Sui Main Limestone(SML). The well was drilled with the objective […]
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ISLAMABAD: Country’s import of oil and gas fell sharply by 28 percent during fiscal year 2019/2020 owing to significant decline in international prices. The import of petroleum group has decline to $10.42 billion during fiscal year 2019/2020 as compared with $14.44 billion in the preceding fiscal year, according to data released by Pakistan Bureau of […]
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ISLAMABAD: Big retail units shall be sealed till their integration with the online system of the Federal Board of Revenue (FBR) for sharing sales and purchases. Sources in the Federal Board of Revenue (FBR) said that the big retail units are required to integrate their outlets with the FBR under Sales Tax Act, 1990. However, […]
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