Karachi, May 23, 2025 – The International Monetary Fund (IMF) has reaffirmed its confidence in economic direction of Pakistan, confirming that the country has successfully met all performance targets under the Extended Fund Facility (EFF) program.
(more…)Author: Shahnawaz Akhter
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FY26 budget: ACCA Pakistan unveils bold taxation blueprint
Karachi, May 23, 2025 – In a move that could dramatically reshape Pakistan’s economic trajectory, the Association of Chartered Certified Accountants (ACCA) Pakistan has launched a groundbreaking Budget Proposal for fiscal year 2025–26.
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Foreign investors urge tax relief for beverage industry in budget
Karachi, May 23, 2025 – Foreign investors operating in Pakistan have called on the government to provide tax relief for the beverage industry in the upcoming federal budget for fiscal year 2025-26.
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FBR deploys 520 third-party auditors to enhance tax scrutiny
Karachi, May 23, 2025 – In a significant move to improve tax compliance and strengthen audit operations, the Federal Board of Revenue (FBR) has announced the deployment of approximately 520 third-party auditors across its various regional field formations.
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SBP declares May 28, 2025, as bank holiday for Youm-e-Takbeer
Karachi, May 23, 2025 – The State Bank of Pakistan (SBP) has officially announced that all banks across the country will remain closed on Wednesday, May 28, 2025, in observance of Youm-e-Takbeer.
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FBR rakes in Rs30 billion from Karachi electricity consumers
Karachi, May 23, 2025 – In a massive revenue windfall, the Federal Board of Revenue (FBR) has collected a staggering Rs30 billion in withholding tax from electricity consumers in Karachi during the first ten months (July–April) of the current fiscal year 2024–25.
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IMF deal triggers 20% levy on Pakistan captive power
ISLAMABAD, May 23, 2025 – In a dramatic move to fulfill a major condition of the International Monetary Fund (IMF), Pakistan has passed a game-changing law slapping a 20% levy on all captive power plants—self-generating energy units that operate off the national grid.
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Pakistan’s forex reserves climb to $16.65 billion with IMF inflows
Karachi, May 22, 2025 — Pakistan’s foreign exchange (forex) reserves have witnessed a significant increase, reaching $16.65 billion, fueled by the latest inflows from the International Monetary Fund (IMF).
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PSX suffers 778 points blow as global oil prices plunge
Karachi, May 22, 2025 — The Pakistan Stock Exchange (PSX) endured a sharp downturn on Thursday, shedding 778 points amid a steep drop in global oil prices, which rattled investor sentiment and dragged down oil-heavy sectors.
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FBR orders Saturday overtime to supercharge tax collection drive
Islamabad, May 22, 2025 — In a bold and urgent move to ramp up tax revenue, the Federal Board of Revenue (FBR) has sounded the alarm and issued fresh directives to its nationwide tax offices, calling for extended enforcement operations and late-night sittings on Saturday, May 31, 2025—a clear sign of intensifying efforts to meet its ambitious collection goals.
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