Karachi, May 8, 2025 – The State Bank of Pakistan (SBP) has officially invited applications from eligible financial institutions for selection as primary dealers for the fiscal year 2025–26. The announcement, made on Thursday, aims to appoint qualified institutions to facilitate government securities transactions under its Primary Dealer System.
(more…)Author: Shahnawaz Akhter
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PSX crashes by 6.32% in midday trading amid new Indian strikes
Karachi, May 8, 2025 – The Pakistan Stock Exchange (PSX) experienced a dramatic crash of 6.32% during midday trading on Thursday following reports that India launched a series of drone strikes across multiple Pakistani cities overnight. The news triggered widespread panic among investors, resulting in the PSX hitting its lower lock and forcing a temporary suspension of trading.
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Pakistan’s 9MFY25 budget deficit narrows 2.4% on strong revenue
Islamabad, May 7, 2025 — Pakistan’s fiscal indicators showed notable improvement during the first nine months of the ongoing fiscal year (July–March FY2024-25), as the federal budget deficit shrank to 2.4% of GDP, down significantly from 3.7% recorded during the same period last year. The Ministry of Finance released these figures on Wednesday, attributing the fiscal improvement to a surge in both tax and non-tax revenues.
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FBR seals famous jewelry shop in Karachi over POS violation
Karachi, May 7, 2025 – In a decisive move to tighten regulatory control over the gold trade, the Federal Board of Revenue (FBR) on Wednesday sealed a prominent jewelry shop located on Karachi’s Tariq Road for failing to comply with Point of Sale (POS) integration requirements.
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PSX plummets by 3,559 points amid rising Pakistan-India tensions
Karachi, May 7, 2025 – The Pakistan Stock Exchange (PSX) witnessed a sharp nosedive on Wednesday, shedding 3,559 points, or 3.13% on a day-on-day basis, as investors reacted to rising tensions between Pakistan and India.
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Businesses remain sluggish despite sharp rate cuts: ICMAP report
Karachi, May 7, 2025 — A new report by the Institute of Cost and Management Accountants of Pakistan (ICMAP) reveals that business activity in Pakistan remains subdued, despite significant reductions in the State Bank of Pakistan’s (SBP) benchmark interest rate.
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PTBA decries tax amendments as violation of taxpayers’ rights
The Pakistan Tax Bar Association (PTBA) has strongly opposed the recently promulgated Tax Amendments Ordinance 2025, calling it a direct infringement on the constitutional rights of taxpayers. In a formal letter addressed to President Asif Ali Zardari, the PTBA urged the immediate withdrawal of the ordinance, following a comprehensive review of its contentious provisions.
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ICMAP unveils strategic framework for crypto adoption in Pakistan
KARACHI, May 6, 2025 — The Institute of Cost and Management Accountants of Pakistan (ICMAP) has unveiled a landmark proposal aimed at laying the groundwork for responsible crypto adoption in Pakistan.
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FBR cracks down on gold trade to curb money laundering
KARACHI, May 6, 2025 — In response to the sharp surge in gold prices and the growing risks of financial crimes, the Federal Board of Revenue (FBR) has intensified its efforts to monitor money laundering activities in Pakistan’s gold trade sector.
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KCCI, RCCI lead unified business stand against tax ordinance
KARACHI: In a strong display of solidarity, the Karachi Chamber of Commerce and Industry (KCCI) and the Rawalpindi Chamber of Commerce and Industry (RCCI) have jointly voiced firm opposition to the Tax Ordinance (Amendment) 2025, calling it detrimental to business growth and investor confidence in Pakistan.
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