Pakistan Revenue
KARACHI: The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed 2019/2020 with a positive return after two consecutive years in red, portraying a Pak Rupee based increase of 1.5 percent. Analysts at Arif Habib Limited said that the performance of the fiscal year 2019/2020 is in stark contrast to the last 10-year performance of […]
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KARACHI: State Bank of Pakistan (SBP) has extended the Rozgar scheme for another three months and, in collaboration with the Government of Pakistan, has increased the risk coverage for SMEs under the scheme. Soon after the outbreak of Covid-19 pandemic, SBP took a number of steps to provide economic support to businesses and households. SBP […]
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KARACHI: The stock market gained 240 points to end the fiscal year on Tuesday over improved sentiments of investors over approval of finance bill and successful action by security forces against terrorists a day earlier. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) closed at 34,422 points as against 34,182 points showing an increase […]
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KARACHI: The Pak Rupee gained 14 paisas against dollar on the last date of fiscal year 2019/2020 owing to transfer of loan amount from Chinese bank. The rupee ended Rs168.05 to the dollar from previous day’s closing of Rs168.19 in interbank foreign exchange market. The State Bank of Pakistan (SBP) has received $1.3 billion as […]
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KARACHI: The World Bank on Tuesday approved $500 million in financing for the Resilient Institutions for Sustainable Economy program (RISE) to help Pakistan strengthen fiscal management. A statement issued by The World Bank’s Board of Executive Directors approved today $500 million in financing for the Resilient Institutions for Sustainable Economy program (RISE) to help Pakistan […]
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KARACHI: K-Electric on Tuesday said that it has received fresh Public Announcement of Intention (PAI) from Shanghai Electric Power (SEP) Company Limited (SEP) to acquire up to 66.40 percent voting shares of K-Electric Limited, subject to receipt of regulatory and other approvals. This PAI has been notified to the K-Electric Board of Directors on 30 […]
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ISLAMABAD: Federal Board of Revenue (FBR) has granted Rs30 billion as initial allowance to new business entities during fiscal year 2019/2020. The concession of allowance has been granted under Section 23 of Income Tax Ordinance, 2001. As per Section 23 the allowance has been granted as: Section 23. Initial allowance.— Sub-Section (1): A person who […]
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ISLAMABAD: Federal Board of Revenue (FBR) on Monday issued draft rules for processing duty drawback claims in order to speedy repayment of exporters. The FBR issued SRO 561(I)/2020 to amend Customs Rules, 2001 for processing and sanctioning of duty drawback claims. The FBR said that the claims of duty drawback shall be sanctioned by the […]
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ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has allowed non banking microfinance companies (NBMFCs) to defer loan payment of borrowers for one year. The SECP issued circular No. 21 of 2020 on Monday and allowed that NBMFCs may, upon a written request of a borrower received before September 30, 2020, defer repayment of principal […]
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KARACHI: Sindh Revenue Board (SRB) on Monday issued procedure for collection of sales tax on services on renting of machinery, equipment, appliances and other tangible goods. The SRB issued the rules for the levy, collection and payment of tax on the renting of machinery, equipment, appliances, and other tangible goods. (1) This rule shall apply […]
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