Islamabad, June 10, 2023: Finance Minister Senator Mohammad Ishaq Dar on Saturday expressed strong confidence in the government’s ability to achieve the targeted 3.5 percent growth of Gross Domestic Product (GDP) for the fiscal year 2023-24.
(more…)Author: Mrs. Anjum Shahnawaz
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Pakistan Implements 10% Withholding Tax on Foreign Payments via Cards
Islamabad, June 9, 2023: Pakistan has introduced a withholding tax of up to 10 percent on individuals making foreign payments through debit and credit cards. Finance Minister Ishaq Dar announced the increase in tax rates during the presentation of the budget for the fiscal year 2023-24 on Friday.
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Pakistan Targets 3.5% GDP Growth for Fiscal Year 2023-24
Islamabad, June 9, 2023: The Pakistani government has set a target of 3.5 percent GDP growth for the fiscal year 2023-24, according to sources at the Ministry of Planning, Development, and Special Initiatives.
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Pakistan Economic Survey 2022-23: Current Account Deficit Contained Through Import Restrictions
Islamabad, June 8, 2023 – The recently released Pakistan Economic Survey 2022-23 highlights that Pakistan has successfully managed to contain its current account deficit by implementing import restrictions. However, the pressure on foreign exchange reserves persists, creating challenges for the economy.
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Pakistan Economic Survey 2022-23: Weak Exchange Rate, Supply Disruption Cause High Inflation
Islamabad, June 8, 2023: The Pakistan Economic Survey 2022-23, released on Thursday, identifies weaker exchange rates and supply disruption caused by floods as key factors contributing to high inflation in the country.
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Deficit Financing Places Pressure on Commercial Banks, Reveals Pakistan Economic Survey 2022-23
Islamabad, June 8, 2023: The Pakistan Economic Survey 2022-23 disclosed on Thursday that in the absence of external financing, Pakistan relied on internal resources to meet its budget deficit, placing significant pressure on domestic commercial banks.
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Finance Ministry Launches Pakistan Economic Survey 2022-2023 Today
Islamabad, June 8, 2023: The Ministry of Finance in Pakistan is set to launch the Economic Survey of Pakistan for the fiscal year 2022-2023 today.
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Customs Seizes 1.78 Million Illicit Cigarette Sticks Valued at Rs79 Million in Day-Long Operation
In a significant operation conducted by the Directorate of Customs Intelligence and Investigation (I&I), approximately 1.78 million illicit cigarette sticks, worth an estimated Rs79 million, were confiscated in a single day during an intensive anti-smuggling campaign.
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Peshawar Customs Destroys Huge Quantity of Confiscated Goods
Peshawar, June 7, 2023 – The Directorate of Intelligence and Investigation-Customs in Peshawar organized a significant event on June 7, 2023, at Azakhel, District Nowshera, where a massive quantity of confiscated goods was destroyed.
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Massive Tax Evasion Unveiled: Rs956 Billion Lost in Five Key Sectors of Pakistan
Islamabad, June 7, 2023: An international research body, Ipsos, has uncovered a staggering amount of Rs956 billion annual in tax evasion within five key sectors of Pakistan. The report shed light on tax evasion occurring in the real estate, tea, cigarette, tires and oil lubricants, and pharmaceutical industries.
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