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FBR raised regulatory duty by 5% to 10% on 570 imported items

ISLAMABAD (Web Desk) The Federal Board of Revenue (FBR) has amplified the regulatory duty by 5% to 10% on the import of almost 570 luxury items, in order to restrain imports and to reinforce the local business.A notice is issued by the tax department on Tuesday, stating that the federal …

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Dollar rises by Rs1.43 in interbank market

KARACHI (Web Desk) Fluctuations in the US dollar against the rupee continued as the market opened on Monday.The greenback increased by Rs1.43 after initially rising by Rs1.57 and was being traded at Rs133.40 after closing at Rs131.97 on Friday.However, in the open market the dollar remained at Rs132.Following a steep …

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Painful decisions ahead, warns Asad on return from Bali

ISLAMABAD: (Web Desk) Finance Minis­ter Asad Umar on Saturday said the government will have to take difficult decisions that would be painful for people but necessary under international commitments to get out of the current severe economic situation. Speaking at a news conference after his return from Indonesia where he …

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FBR zeroes in on real estate transactions

ISLAMABAD: (Web Desk) In a move to determine non-filers’ investments in the real estate, the Federal Board of Revenue (FBR) has identified more than 16,000 tax evaders who paid zero taxes despite investing billions in the sector during last two years. These individuals who did not even posses national tax …

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Stocks shed 394 points amid global sell-off

KARACHI: (Web Desk) After two days of recovery, stocks beat a retreat on Thursday, tracking losses in world equity markets. The KSE-100 index opened sideways and remained under pressure throughout the day. It bounced back after hitting intraday low by 535 points to close the day’s session with a loss …

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US dollar being sold at Rs136 in open market

KARACHI (Web Desk) The US dollar continued to spike for a second day on Wednesday as it was being sold for Rs136 in the open market.General Exchange Companies Association of Pakistan Secretary Zafar Paracha said the dollar is being bought at Rs134 and sold at Rs136 in the open market.“The …

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