Deadline for filing tax returns, wealth statement extended
KARACHI: Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns and wealth statement til December 15, 2018. In exercise of the powers conferred under Section…
Pakistan’s central bank raises key interest rates to 10percent
KARACHI: The State Bank of Pakistan (SBP) has raised the policy interest rates by 150bps to 10 percent effective December 03, 2018. The economic data released since the last Monetary…
Export industry perturbed over rupee devaluation; demand a workable strategy
KARACHI: The export-oriented value-added textile sector has flayed the sudden devaluation of Pak rupee stating such exorbitant devaluation will increase the import bill of the country and open floodgates of…
Government reduces petrol, diesel prices by Rs2.0/litre
ISLAMABAD: PTI government has decided to reduce prices of petrol and diesel by Rs2.0/litre, against the summary forwarded by the Oil & Gas Regulatory Authority (OGRA) suggesting increae of petroleum…
USD hits Rs144 in interbank trading on Friday
KARACHI: Sudden devaluation of local currency against the US dollar was witnessed in inter-bank trading on Friday morning as the greenback hit an all-time high of Rs144. The sudden rise…
New conditions for import of steel products notified
KARACHI: Chief Collector Customs Appraisement South Abdul Rasheed Sheikh has notified new conditions for import of steel products. Since 2002, quality of steel products was being decided as “primary” or…
Calicom Industries goes for Rs1.0 billion acquisition of Dandot Cement
KARACHI: Calicom Industries (Pvt) Limited has expressed intention to acquire 79.19 million share constituting 83.5 percent of the issued share capital of Dandot Cement Company Limited through their manager Pervez…
Pakistan Stock Exchange advises its brokers to update details of their clients
KARACHI: Pakistan Stock Exchange (PSX) has advised all Trading Rights Entitlement Certificate (TREC) holders (brokers) update details including valid computerized national identity card (CNIC) of their clients, as Pakistan now…
FBR plans detailed audit of PRAL to ensure the reliability and efficiency of the system
KARACHI: The Federal Board of Revenue (FBR) has planned to conduct Automated Data Processing (ADP) audit of Pakistan Revenue Automation Limited (PRAL) to ensure the reliability and efficiency of the…
Pakistan’s forex reserves surge 6.24 percent
KARACHI: Pakistan’s foreign exchange reserves surged 6.24 percent to $14.572 billion during the week ended November 23, the central bank reported on Thursday. The forex reserves stood at $13.715 billion…
Customs Intelligence Peshawar seizes narcotics
KARACHI: Under special directions of Dr. ArsIan Subuctageen Director Intelligence and Investigation-FBR, Peshawar against smuggling of narcotics, the drug cell of Customs Intelligence Peshawar successfully seized another consignment of narcotics…
SHC disposes of Jamal Apparels case with direction
Karachi: A customs appellate bench of High Court of Sindh (SHC) comprising Justice Aqeel Ahmed Abbasi and Justice Zulfiqar Ahmed Khan on Thursday disposed of a petition filed by Jamal…
SHC adjourns hearing of 100 of identical petitions till Jan 22
KARACHI: A customs appellate bench of High Court of Sindh on Thursday adjourned hearing of over 100 identical constitution petition pertaining to imposition of 3 per cent additional tax at…