The business association representing multinational companies (MNCs), the Pakistan Business Council (PBC), has strongly criticized the proposed restoration of the Final Tax Regime (FTR) for commercial importers, urging the government to reconsider its decision. The PBC’s concerns were voiced in response to the Finance Supplementary (Second Amendment) Bill of 2019.
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Cabinet approves 20pc increase for EOBI pensioners
In a significant move, the federal cabinet has approved a landmark 20% increase in pensions for over 450,000 pensioners of the Employees Old-Age Benefits Institution (EOBI).
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SECP asked to review CSR guidelines to align with SDGs
Ms. Zubaida Jalal, the Federal Minister for Defence Production, has called on the Securities and Exchange Commission of Pakistan (SECP) to review its guidelines pertaining to Corporate Social Responsibility (CSR) for the business sector, aligning them with the United Nations’ Sustainable Development Goals (SDGs) for 2030.
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Equity market witnesses buying on rating reports
The equity market of Pakistan Stock Exchange (PSX) experienced a day of mixed trading activities, marked by buying and selling patterns, following the news of Fitch Ratings downgrading Pakistan’s rating. The benchmark KSE-100 index closed at 40,264 points, exhibiting a slight decline of 24 points compared to the previous day’s closing at 40,289 points.
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Rupee ends with gain against dollar on foreign inflows
Rupee has ended with a gain of 11 paisas against the dollar on Friday amid foreign inflows received from Saudi Arabia and United Arab Emirates (UAE).
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FBR invites customs related budget proposals for 2019/2020
The Federal Board of Revenue (FBR) has invited customs related budget proposals for fiscal year 2019/2020.
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Rs6.8 billion revenue loss estimated on implementation of reform package: FBR
An amount of Rs6.8 billion as revenue loss has been estimated on implementation of reform package by the Federal Board of Revenue (FBR).
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Rupee gains 15 paisas in midday trading on inflows of $2 billion
Rupee has gained 15 paisas against the dollar in midday trading on Friday owing to inflows of $2 billion received by Pakistan.
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Rupee eases in early trade
Rupee eases in early trade against the dollar on Friday owing to rising demand for import and corporate demand.
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