Business
SBP Facilitates Exporters to Allow them to Make More Types of Payments to Promote Exports: SBP
Karachi, February 19, 2021: Exporters of goods and services, including IT based services, are allowed to retain a certain portion of their exports proceeds in their Special Foreign Currency Accounts. The fund from these accounts, however, could be utilized for specified purposes only. Over time the types of payments that exporters need to make have…
KSE-100 closed positive on 85pts
Karachi, February 19, 2021: The KSE100 started the day strong, rising to touch a high of +235 points from where the index slid to a low of -6 points as a result of profit-taking. The market closed the volatile session at 46,227 level with the benchmark index having inched up 85 points. BYCO (9.6 percent),…
Prime Minister pays tribute to Overseas Pakistanis for their confidence in Roshan Digital Account
Islamabad, February 18, 2021: The Honourable Prime Minister of Pakistan thanked Overseas Pakistanis for their overwhelming response to the State Bank’s Roshan Digital Account (RDA) initiative. He was speaking at a ceremony at the Prime Minister House today, held to mark the significant milestone of remittances through RDA crossing $500 million in just five months….
HBL’s 2020 profit doubles to Rs. 31 billion, with focus on Digitalization and Financial Inclusion
Karachi, February 17, 2021: HBL today declared a consolidated profit after tax of Rs. 30.9 billion for the year ended December 31, 2020, double that for the same period last year. The Bank’s earnings per share increased to Rs. 21.06 compared to Rs. 10.45 for 2019. Profit before tax recorded a growth of 84% over…
Govt. announces new Tax Regime for Roshan Digital Accounts
Karachi, February 16, 2021: Based on feedback from the diaspora and recommendations from SBP, the Federal Government has introduced several amendments in the Income Tax Ordinance 2001 through Tax Laws (amendment) Ordinance 2021 to make the taxation regime simple, convenient and hassle-free for Non Resident Pakistanis (NRPs) maintaining Roshan Digital Accounts (RDAs). The amendments simplify…