Business

ISLAMABAD: Pakistan’s top tax machinery has almost finalised a comprehensive strategy for broadening tax base that may be put into motion along with a documentation drive in January, Dawn has learnt from knowledgeable sources. The Federal Board of Revenue (FBR) has collected information about 7.2 million individuals from various sources — banks, utility organisations, and excise and taxation departments — and shared …

KARACHI: The Pakistan Stock Exchange (PSX) is determined to promote retail trade in the debt securities market through its platform in 2022, PSX CEO Farrukh H. Khan said. Speaking to Dawn in a recent interview, the head of the country’s only bourse said the PSX has brought on board 12 banks as market-makers to ensure retail investors have easy access to the …

KARACHI: A dip in foreign exchange reserves owing to external loan payments as well as concerns about rising inflation brought the stock prices down to the red zone in the last trading hour on Friday, according to Arif Habib Ltd. The stock market opened on a positive note as the central bank conducted another open market operation for 63 days, …

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday claimed that revenue collection from the sugar sector posted growth of 11 per cent from Rs29.3 billion a year ago to Rs32.43bn in the first six months of this year. The bureau linked this increase to the introduction of the track-and-trace system (TTS) in November disregarding the impact of the increased …

KARACHI: Arif Habib Ltd (AHL), which is the investment banking arm of the eponymous industrial conglomerate, said on Friday it expects inflation will be back in single digits in the second half of the next calendar year because of the high base effect, currency stabilisation, monetary easing and a slowdown in global commodity prices. Speaking to the press at the …

KARACHI: The State Bank of Pakistan (SBP) injected Rs1.08 trillion into the money market on Friday in yet another open market operation (OMO), which included around Rs382 billion for an unusual 63-day period. The SBP injected Rs701 billion at 9.82 per cent for seven days in addition to providing Rs381.75bn at 9.85pc for 63 days through the OMO, which is …

ISLAMABAD: Federal Minister for Energy Hammad Azhar has said that domestic consumers’ gas needs in winter are met by curtailing supply to non-export general industries and captive power plants, but this year the Sindh High Court (SHC) issued a stay order on the curtailment. Speaking at the PTV on Friday, the minister said since the next hearing regarding the stay order was …

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has abolished the requirement for banks to obtain separate licence for distributing mutual funds and private pension funds to Roshan Digital Accounts (RDAs). This relaxation has been granted to facilitate overseas Pakistanis to invest in mutual funds and private pension funds managed by Asset Management Companies and comes as part of …

ISLAMABAD: The National Price Monitoring Committee (NPMC) on Wednesday reviewed prices of essential commodities and directed relevant stakeholders to maintain prices of food items. The meeting observed prices of essential commodities tomatoes, potatoes, chicken farm, onions, eggs, gur, sugar, wheat flour bags have registered significant decline during the week. It was also informed that prices of onions and tomatoes during …

KARACHI: The government has showered a number of tax and duty reliefs on the existing and new entrants under the Auto Industry Development and Export Policy (AIDEP) 2021-26 to encourage the manufacturing of affordable vehicles including bikes, small vehicles, tractors, etc. Besides, the five-year policy is also aimed at improving localisation, ensuring consumers’ protection, promotion of new technologies ie electric …