Pakistan witnessed a significant surge in headline inflation as the Consumer Price Index (CPI) reached an unprecedented all-time high of 38% in May 2023.
(more…)Author: Mrs. Anjum Shahnawaz
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Pakistan Slashes Petroleum Prices for First Half of June 2023
Pakistan has announced a significant reduction in petroleum prices for the first half of June 2023. The decision was made by Finance Minister Muhammad Ishaq Dar and will come into effect on June 1 and remain in place until June 15.
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Commission Recommends Eliminating Principal Appraiser Post in Pakistan Customs
The Reform and Revenue Mobilization Commission (RRMC) in Pakistan has recently conducted an assessment and determined that the post of principal appraiser in Pakistan Customs serves no practical purpose.
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Tax Reform Commission Recommends Measures to Counter Petroleum Smuggling
The Reform and Revenue Mobilization Commission (RRMC) has proposed the implementation of a marking and monitoring system in the petroleum sector to combat the rampant smuggling of petroleum products in Pakistan.
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Pakistan May Impose High Tax Rates on Non-Filer Religious Travelers
Pakistan is reviewing a proposal to impose significantly higher tax rates on non-filer religious travelers as part of its efforts to bring undocumented money into the formal economy.
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President Orders FBR to Apologize, Compensate for Mishandling of Imported Vehicles
President Dr Arif Alvi has taken decisive action in response to the mishandling of imported vehicles by the Customs Department, directing the Federal Board of Revenue (FBR) to issue an apology and provide compensation to a citizen who faced significant financial losses.
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Dar Vows Business-Friendly Budget to Spur Economic Growth
Islamabad, May 29, 2023: In a meeting with the Association of Builders and Developers of Pakistan (ABAD), Senator Mohammad Ishaq Dar, the Federal Minister for Finance and Revenue, announced the government’s commitment to introduce a business-friendly budget aimed at supporting the masses and bolstering economic growth. The gathering took place in Islamabad on Monday.
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FBR Directs Officials to Submit Asset Declarations; Failure May Lead to Action
Islamabad, May 29, 2023: The Federal Board of Revenue (FBR) has issued a directive to all chiefs, urging them to ensure that officials under their administrative control file their asset declarations.
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Pakistan set to unveil new petroleum prices on May 31, 2023
Pakistan is set to make a significant announcement regarding new petroleum prices on May 31, 2023. These prices will be applicable for the first half of June 2023. The decision to unveil the prices comes in light of the imminent arrival of Russian oil, which holds the promise of offering substantial cost savings compared to the prices prevailing in the international market. Industry experts are eagerly anticipating a noteworthy reduction in petroleum prices during the initial fortnight of June 2023.
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Zong 4G launches Saudi Arabia roaming offer for Pakistani pilgrims
Islamabad – May 26: Zong 4G, the leading telecommunications company in Pakistan, has introduced its Saudi Arabia Roaming Offer to facilitate travelers visiting Saudi Arabia, particularly for pilgrimage.
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