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Karachi, The banking sector in Pakistan is bracing for the impact of Section 99D of the Finance Act 2023, following the Federal Cabinet's approval of a 40% additional tax on income from foreign exchange (FX) for the calendar years 2021 and 2022. This d...

The post Banks Face Additional Tax on Foreign Exchange Income Under Section 99D appeared first on Pakistan Business News.

Lahore, Defence Housing Authority (DHA) Lahore has officially announced the possession opening for Sectors F and G in Prism 9. The announcement, made on the authority’s official Facebook page, marks a significant development in the expansion of Prism 9...

The post DHA Lahore Opens Possession for Sectors F, G in Prism 9 appeared first on Pakistan Business News.

Karachi, Ghani Glass Limited (GHGL) recently conducted a corporate briefing to discuss its financial results for the fiscal year 2023 (FY23) and the first quarter of fiscal year 2024 (1QFY24). The company reported significant year-over-year (YoY) growt...

The post Ghani Glass Limited Reports Strong Earnings, Faces Market Challenges appeared first on Pakistan Business News.

Karachi: The MCB Pakistan Asset Allocation Fund, introduced in 2008, reported an offer price of 104.13 and a redemption price of 100.71. The fund, ending its fiscal year in June, declared a distribution of Rs 5.50 per unit for 2022, reflecting its ade...

Karachi: Power Holding Limited's PESC2 Sukuk offers a unique profit rate of 6M KIBOR-0.1% over a ten-year term. With each market lot valued at PKR 5,000, the total issue size is PKR 199,966,800,000, all of which is outstanding. Sukuk holders are expec...

Karachi: Alfalah GHP Islamic Prosperity Planning Fund Balance Allocation Plan, listed in 2017, had both offer and redemption prices at 0 as of June 2023. The fund declared a distribution of 2.93% in 2022 but announced no distributions for 2023. The fi...

Karachi: Habib Bank Limited has issued a Tier-I TFC, HBLTFC2, on a perpetual basis with a profit rate of 3M KIBOR+1.6%. The security has a face value of PKR 100,000 per market lot, with the total issue size reaching PKR 12,374,000,000. Investors are a...