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Author Archives: Mahmood Idrees

Gold prices remain steady despite floods, political uncertainty

  LAHORE – Gold prices remained steady on Monday in the local market despite current political unrest and flash floods in the country. Like the last week, gold price for 24 karat closed at Rs 47,900 per tola and 22 karat gold metal price at Rs 43,900 per tola in city gold markets. Silver also remained stable in the market ... Read More »

Closing: Foreign investors prop up KSE with slight gains

KARACHI: The Karachi Stock Exchange (KSE) 100-Index gained 25.24 points to reach 30070.13 on the first trading day of the week as the deadlock in dialogue between government and PTI and PAT, has been worsening the weeks-long political uncertainty in federal capital. The KSE 100-index opened at 30044.89 and traded 68,539,480 shares during the day. The market lost 142 points ... Read More »

Revenue Alliance Union asks FBR chief to accept demands

LAHORE: The Federal Revenue Alliance Employees Union (FRAEU) FBR Pakistan has sent a letter to the FBR chairman, asking him to accept their charter of demands or the union will call for a strike. The union reiterated its demands in the letter regarding the service structure policy for FBR employees from BS-1 to BS-16, grant of one time scale to ... Read More »

Weekly review: KSE crosses 30,000 barrier despite sit-ins, floods

KARACHI: The Karachi Stock Exchange (KSE) 100-index has gained 531.08 points in weeklong trading as it opened at 29513.73 points on Monday and closed at 30044.89 points on Friday. The KSE witnessed bullish trend most of the days, despite month long sit-ins, protests, clashes and political unrest in the federal capital, and flood. The first day of trading, Monday, was ... Read More »

Closing: KSE firms gains, up 186 points

KARACHI: Karachi Stocks Exchange (KSE) 100-Index gained 186.52 points to reach 30044.89 mark on Friday as the opposition jirga, mediating between the government and PTI and PAT, presented “the best possible formula” to end the month-long political standoff. KSE 100-index opened at 29858.37 points and traded total share volume of 104,324,470 shares.The market opened on upward note and crossed the ... Read More »

Weekly review: Rupee sheds 50 paisa against dollar

LAHORE: The US dollar strengthened 50 paisa and 25 paisa in inter-bank and open markets respectively during the weeklong trading from Monday to Friday, as the deadlock between the negotiators — representing the government and Pakistan Tehreek-e-Insaf (PTI) over the resignation of Prime Minister Nawaz Sharif — continued during weeklong talks. The US dollar strengthened 20 paisa against Pakistani rupee ... Read More »

FBR raises large taxpayer unit’s target by 30pc

LAHORE: The Large Taxpayer Unit (LTU) of the Federal Board of Revenue (FBR) has been assigned 30 percent more revenue target for September this year than the last year’s collections of Rs 15.03 billion during the same period. Sources told Customs today that the FBR has assigned Rs 19.497 billion tax collection target to LTU for September this year, which ... Read More »

Closing: KSE bounces back with 167 points

KARACHI: Karachi Stock Exchange (KSE) 100-Index gained 167.06 points to reach 29858.37 mark on Thursday as the negotiators of government, PTI and PAT hoped the resolution of political unrest soon. Political standoff in the capital has caused some fears among the investors while flood related apprehensions caused lacklustre activity at the bourse, as investors remained cautious to participate actively anticipating ... Read More »

FBR officials arrest factory owner for evading Rs 280 million tax

LAHORE: Federal Board of Revenue Lahore Deputy Commissioner Inland Revenue Raza Ashfaq Sheikh has arrested a factory owner for allegedly evading Rs 280 million tax. As per details, the deputy commissioner raided a house in Shahdman, Lahore, and arrested Nasir Tariq Butt, owner of Munir Foundry situated on Shiekhpura Road. Butt had not been paying his tax dues since 2009. ... Read More »

Closing: Bears dominate KSE amid political uncertainty in Islamabad

KARACHI: The Karachi Stock Exchange (KSE) 100-Index lost 37.60 points to reach 29691.31 points due to prolonged political uncertainty haunting the federal capital. The market opened with negative note losing points to reach 29712.11 from the overnight 29728 points in midday trading; however, market recovered quickly gaining 59 points to reach 29787 after that. The KSE 100-index opened at 29665.90 and total ... Read More »

2000 containers used to restrain Imran, Qadri marches

LAHORE: Lahore Chamber of Commerce and Industry (LCCI) Vice President Mian Tariq Misbah said that road blockade with containers may save the democracy but could subvert the economy. He said that delay in consignments has affected the business community, especially the small businessmen and industry. “If government has given the permission to the marches of Pakistan Tahreek-e-Insaf Chairman Imran khan ... Read More »

FBR asked to implement employees union’s demands

LAHORE: The Federal Revenue Alliance Employees Union has asked the Federal Board of Revenue (FBR) to implement long delayed charter of demands of the union immediately, in a monthly meeting here the other day. Federal Revenue Alliance Employees Union President, Syed Naeem Abbas Shah preside the meeting at the FBR Lahore office. The general secretary of the union, Shahzad Butt told ... Read More »

Closing: KSE up 143 points on another round of talks

KARACHI: The Karachi Stocks steadily built on the overnight gains and rose by 143.31 points to take the stocks benchmark KSE-100 to 29728.91 points, shrugging off several pressing problems the country has been grappling with at different fronts, on Tuesday. The KSE-100 opened on an upbeat note and kept on upwards march aggressively, boosting confidence of the investors. Once the ... Read More »

Closing: Bulls at KSE bounce back amid PTI, PAT talks with govt

KARACHI: The Karachi Stock Exchange (KSE) 100-index gained 71.82 points to reach 29585.60 mark on the first day of the trading week, Monday, as the positive signs were prevailing about the resolution of the current political standoff in the federal capital. The market opened at 29513.78 with positive sentiments, kept on marching upward and taken the total trade volume to ... Read More »