KARACHI: The Federal Board of Revenue (FBR) on Tuesday directed the offices of the Inland Revenue (IR) to facilitate taxpayers in the payment of duty and taxes during the last two days of the year by extending working hours. On an office order, the revenue board directed the tax offices to remain open and observe … Read more
The State Bank of Pakistan (SBP) on Monday said the limits of foreign currency buying by individuals have been set to discourage speculative transactions. The SBP has set a limit of $10,000/day/individual and $100,000/year/individual to check the foreign currency transactions. “It has been observed that substantial amounts of foreign currency was being purchased for speculative … Read more
Dolmen City REIT (DCR) has been showing signs of recovery after the pandemic phase with the improvement in footfall in recent months. However, the activity has not reached to pre-pandemic levels, as yet. Nonetheless, the REIT has kept its absolute payout unchanged in the last two years, despite concessions offered to tenants, maintaining the stock’s … Read more
KARACHI: The rupee ended firmer against the dollar on Friday, amid high dollar demand for import and corporate payments, dealers said. The rupee eased by one paisa to Rs178.13 against the dollar from the previous day’s closing of Rs178.12 in the interbank foreign exchange market. The dealers said the demand for the foreign currency was … Read more
KARACHI: The rupee recovered three paisas from it’s all-time low against the dollar on Thursday on tightening of foreign exchange buying in the open market, dealers said. The rupee ended at Rs178.12 against the greenback from the previous day’s closing of Rs178.15 in the interbank foreign exchange market. The rupee recorded the all-time low of … Read more
KARACHI: Meezan Bank Limited, Pakistan’s first and largest Islamic bank, also became the first bank to launch the Islamic SME Asaan Finance Scheme (I-SAAF) for Small and Medium Enterprises (SMEs) under the State Bank of Pakistan’s (SBP) SME Asaan Finance Scheme (SAAF), a statement said on Wednesday. The launching ceremony was held at the Multan … Read more
KARACHI: The dollar recorded a new high of Rs178.15 on Wednesday, amid higher year-end dollar demand for import and corporate payments, dealers said. The exchange rate witnessed a 10 paisas decline in the rupee value against the dollar from yesterday’s closing of Rs178.05, the previous historic low of the rupee, in the interbank foreign exchange … Read more
KARACHI: The rupee fell slightly against the dollar on Tuesday but made a new historic low of Rs178.05 at the closing of the interbank foreign exchange market, dealers said. The exchange rate witnessed an ease of one paisa in the rupee value against the dollar from the previous day’s closing of Rs178.04, which was also … Read more
KARACHI: State Bank of Pakistan (SBP) Governor Dr Reza Baqir on Monday praised the banks for disbursing Rs1.4 trillion as agriculture credit during FY21, a statement said. Dr Baqir made these remarks while chairing the annual meeting of Agricultural Credit Advisory Committee (ACAC) held in Multan on Monday. The SBP governor lauded banks’ performance in … Read more
KARACHI: The State Bank of Pakistan (SBP) on Monday said the limits of foreign currency buying by individuals have been set to discourage speculative transactions. The SBP has set a limit of $10,000/day/individual and $100,000/year/individual to check the foreign currency transactions. “It has been observed that substantial amounts of foreign currency was being purchased for … Read more
KARACHI: The rupee ended firmer at Rs178.04 against the dollar on Monday, amid higher foreign currency demand for import and corporate payments, dealers said. The rupee ended at Rs178.04, which is the same closing of December 17, 2021, in the interbank foreign exchange market. The present exchange rate is the lowest level of the rupee … Read more
KARACHI: The inflows of foreign direct investment (FDI) into Pakistan has increased 12.3 per cent to $798 million during the first five months (July-November) of the fiscal year 2021/22, the State Bank of Pakistan (SBP) reported on Friday. The FDI during the same months of the last year stood at $710 million, according to the … Read more
KARACHI: The rupee fell to a record low of Rs178.04 against the dollar at the interbank foreign exchange market on Friday, dealers said. The demand for the dollars for import and corporate payments remained high during the day, they said. The exchange rate recorded a decline of six paisas against the greenback from the previous … Read more
KARACHI: The Site Association of Industry (SAI) has rejected another 100 basis points rise in the interest rates and called for its immediate reversal, especially when the industry is facing forced closures due to a severe gas shortage, a statement said. SAI president Abdul Rasheed said that free-float of the exchange rate works as a … Read more
KARACHI: The exchange rate ended unchanged on Thursday, as the dollar maintained the record high level of Rs177.98, which was the previous day’s closing at the interbank foreign exchange market, dealers said. They said the market witnessed high dollar demand for import and corporate payments; however, the banks provided sufficient dollars against the demand to … Read more
KARACHI: Korangi Association of Trade and Industry (Kati) president Salman Aslam has expressed concern over 1 per cent increase in the interest rates and said that the latest decision of the State Bank of Pakistan (SBP) to increase the key policy rate to 9.75 per cent would increase inflation. He said 9 per cent to … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has expressed concerns over the increase in the key policy rate, saying it would neutralise all the efforts aimed at bringing down the cost of doing business, a statement said. LCCI president Mian Nauman Kabir, senior vice president Mian Rehman Aziz Chan and vice president Haris Ateeq said … Read more
KARACHI: The rupee witnessed an unabated free-fall for the last several months, as the dollar hit a new record high of Rs177.98 at the closing on the interbank foreign exchange market on Wednesday, amid the monetary tightening announced a day ago. The exchange rate witnessed a decline of 10 paisas in the rupee value against … Read more
KARACHI: The much-anticipated three-day Pakistan Learning Festival (PLF), an initiative of the Children’s Learning Festival (CLF), kicked off with a series of interactive sessions and activities on Tuesday, November 14, 2021, at the Arts Council of Pakistan, Karachi, a statement said. PLF is the flagship programme of civil society organisation Idara-e-Taleem-o-Aagahi. The event, being co-hosted … Read more
LAHORE: The trials of Punjab’s U-17 boys, U-16 Girls boxing teams were held at Nishtar Park Sports Complex (NPSC) Gymnasium Hall here on Tuesday. The trials of Punjab’s U-17 boys, U-16 Girls boxing teams were held at Nishtar Park Sports Complex Gymnasium Hall. More than 60 boys and girls from all nine divisions of the … Read more
KARACHI: The rupee ended flat against the dollar on Tuesday ahead of the monetary policy announcement scheduled for today, December 14, 2021, dealers said. The exchange rate ended at Rs177.88 against the dollar from the previous day’s closing of Rs177.89 in the interbank foreign exchange market. The dealers said the market participants were anticipating a … Read more
KARACHI: The State Bank of Pakistan (SBP) has said that the inflows of remittances sent by overseas Pakistanis grew 9.7 per cent to $12.9 billion during the first five months (July-November) 2021/22. The SBP said that with $2.4 billion of inflows during November 2021, workers’ remittances continued their strong streak of remaining above $2 billion … Read more
KARACHI: The dollar recorded another high of 177.89 against the rupee at the closing of the interbank foreign exchange market on Monday, dealers said. The exchange rate witnessed an 18 paisas decline in the rupee value to end at Rs177.89 against the dollar from the last trading day’s closing of Rs177.71, the previous record low … Read more
KARACHI: The State Bank of Pakistan (SBP) will launch a new initiative, Asaan Mobile Account (AMA) on Monday, December 13, 2021, a statement said. The initiative has been developed under the National Financial Inclusion Strategy with the objective to bring further ease in remote account opening under branchless banking. This means that the customers would … Read more
KARACHI: The State Bank of Pakistan (SBP) has issued revised prudential regulations for microfinance banks to streamline the requirement of obtaining credit information report (CIR) and simplifying the documentary requirements from the microfinance borrowers, a statement said. Earlier, the Credit Bureau Act (CBA) 2015 was promulgated to provide a basis for incorporation and functioning of … Read more
KARACHI: The monetary policy announcement scheduled for next week may end the volatility in the rupee value. The State Bank of Pakistan (SBP) is scheduled to announce the monetary policy statement on December 14, 2021. The Monetary Policy Committee will take all the current economic indicators into consideration, while making the decision. One of the … Read more
KARACHI: The deterioration in the rupee value continued on Friday, as the dollar hit another high of Rs177.71 in the interbank foreign exchange market, dealers said. The exchange rate witnessed a 10 paisas decline in the rupee value to end at Rs177.71 against the dollar from the last day’s closing of Rs177.61, the previous record … Read more
KARACHI: The Federation of Pakistan Chamber of Commerce and Industry (FPCCI) has proposed that the State Bank of Pakistan (SBP) should not further increase the monetary policy rate, as it can result in stagflation and adverse effects on industrial growth, a statement said on Friday. FPCCI president Mian Nasser Hyatt Maggo said that the use … Read more
