Business
PSX market remain positive on wednesday
Karachi, July 22, 2020: The market remained range-bound making an intraday high and low of +286 & -148 points respectively, to finally close at 37,805 levels, +0.3 percent. Traded value stood relatively low at $106 million, down 9 percent and volume stood at 405 million shares, down 11 percent. Furthermore, major contribution to total market…
SBP enhances scope of its Renewable Energy Refinance Scheme to encourage production of clean energy
Karachi, July 22, 2020: State Bank of Pakistan (SBP) has enhanced the scope of its Refinance Scheme for Renewable Energy by allowing financing under category III of the scheme to solar and wind based energy sale companies. In light of the feedback received from stakeholders, the size of the project established by vendor/ supplier/ energy…
Proposals to strengthen international audit and ethics standard-setting process welcomed by ACCA
Karachi, July 22, 2020: Robust global auditing and ethical standards are essential for business, investor and public trust, says ACCA (the Association of Chartered Certified Accountants) following publication of the Monitoring Group’s paper explaining the way ahead. Speaking about the Monitoring Group’s recommendations, Maggie McGhee, executive director – governance at ACCA says: ‘This is a…
SAI demands attention on existing industrial zones first
Karachi, July 21, 2020: President of SITE Association of Industry Suleman Chawla, in a press statement, welcomed setting up of two new industrial zones in the Sindh provinces but at the same time, drawn attention of the Chief Minister towards the miserable condition of infrastructure in existing zones, particularly SITE industrial area, Karachi. Chawla demanded…
FBR allows 2pc income tax on chemicals and dyes raw materials
Karachi, July 21, 2020: The Federal Board of Revenue (FBR) has given relief to commercial importers by allowing them to pay 2pc income tax instead of 5.5pc due to anomalies of chemicals & dyes raw material, which was included in part 3 (finished goods). Pakistan Chemicals & Dyes Merchants Association (PCDMA) had pointed out in…