Karachi, February 1, 2025 – The Pakistan Stock Exchange (PSX) is anticipated to sustain its positive momentum in the upcoming week, commencing from February 2, 2025. Market analysts at Arif Habib Limited predict that the PSX will continue its upward trajectory, largely influenced by expectations of further reductions in inflation.
(more…)Author: Shahnawaz Akhter
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IRIS restricts auto revision of sales tax return: KTBA
Karachi, January 31, 2025 – The Karachi Tax Bar Association (KTBA) has raised concerns regarding the IRIS portal’s restriction on the auto revision of sales tax returns, causing challenges for taxpayers who need to rectify their declarations.
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Banks drive KSE-100 rally with a 1,050-point surge
Karachi, January 31, 2025: The KSE-100 index of the Pakistan Stock Exchange (PSX) witnessed a significant surge on Friday, gaining 1,050 points, largely fueled by robust activity in the banking sector.
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SBP urges more rural bank branches to strengthen agri-financing
Karachi, January 31, 2025 – Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), has called on banks to increase their rural presence by opening more branches dedicated to agricultural financing, as part of efforts to boost the agriculture sector in the country. His directive comes as part of the broader goals set by the SBP to address the challenges faced by Pakistan’s agriculture industry and ensure its long-term growth.
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FBR launches sweeping crackdown on Rs 200 billion withholding tax discrepancies
Islamabad, January 31, 2025 – In a decisive move to strengthen tax compliance and curb financial irregularities, the Federal Board of Revenue (FBR) has initiated a comprehensive crackdown on excessive claim of withholding tax (WHT) deductions amounting to Rs 200 billion.
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Pakistan Anticipates January Inflation at Around 10-Year Low
Karachi, January 31, 2025 – Pakistan’s inflation rate for January 2025 is projected to hit a 10-year low at approximately 2.7%, marking the lowest level since March 2015.
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OGDCL starts oil and gas production from Bettani-2 Well
Karachi, January 31, 2025 – Oil and Gas Development Company Limited (OGDCL) has officially commenced oil and gas production from the Bettani-2 appraisal well, located in District Lakki Marwat, Khyber Pakhtunkhwa. This milestone marks a significant advancement in OGDCL’s ongoing exploration and production efforts.
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FBR issues SRO to extend regulatory duty on steel products
Karachi, January 31, 2025 – The Federal Board of Revenue (FBR) has announced an extension of regulatory duty on steel product imports through a newly issued notification. The FBR released SRO 78(I)/2025 on January 30, 2025, amending SRO 928(I)/2025 dated June 30, 2024, to ensure continued protection for the local steel industry.
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IRSOA Strongly Rebuts Senator Faisal Vawda’s Allegations
Islamabad, January 30, 2025 – The Inland Revenue Service Officers Association (IRSOA) has categorically and unequivocally rejected the serious yet unsubstantiated allegations made by Senator Faisal Vawda during today’s proceedings of the Senate Standing Committee on Finance.
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Pakistan’s Forex Reserves Dip by $137M on Foreign Payments
Karachi, January 30, 2025 – Pakistan’s foreign exchange (forex) reserves saw a decline of $137 million during the week ending January 24, 2025, primarily due to external debt repayments and other foreign payments. This drop reflects the country’s ongoing financial obligations amid efforts to stabilize the economy.
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