Karachi, December 17, 2024 – Pakistan has reported a significant current account surplus of $944 million for the first five months (July to November) of the fiscal year 2024-25, according to balance of payment data released by the State Bank of Pakistan (SBP) on Tuesday.
(more…)Author: Shahnawaz Akhter
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FBR Clarifies Sales Tax Treatment in Case of Rate Change
Karachi, December 17, 2024 – The Federal Board of Revenue (FBR) has issued a detailed clarification on the treatment of sales tax when there is a change in the applicable tax rate. This clarification is designed to provide clear guidance to taxpayers and ensure uniform compliance.
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FBR Integrates FMCG Sector with Digital Invoicing System
Islamabad, December 17, 2024 – The Federal Board of Revenue (FBR) has taken a significant step toward enhancing transparency and compliance by integrating the Fast-Moving Consumer Goods (FMCG) sector with its digital invoicing system. This initiative aims to streamline tax collection and improve documentation within the sector.
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SBP Warns of Inflation Risks from Potential Tax Measures
Karachi, December 17, 2024 – The State Bank of Pakistan (SBP) has expressed concerns over potential risks to the inflation outlook, particularly due to the possibility of additional tax measures. During a briefing following the latest decision by the Monetary Policy Committee (MPC), analysts at Insight Securities (Pvt) Ltd noted that the SBP Governor indicated a more optimistic outlook for FY25.
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SITE Association: Interest Rate Cut Lacks Positive Impact
Karachi, December 16, 2024 – The SITE Association of Industry has rejected the State Bank of Pakistan’s (SBP) recent monetary policy decision, stating that the 200-basis-point reduction in the policy rate will have no meaningful impact on the economy or industrial growth.
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FPCCI Declares 2% Rate Cut Insufficient
Karachi, December 16, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the recent 2% reduction in the policy rate, terming it insufficient to address Pakistan’s economic challenges. The State Bank of Pakistan (SBP) announced the policy rate cut, reducing it from 15% to 13%, following months of declining inflation.
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KCCI Expresses Disappointment Over Meagre Interest Rate Cut
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) expressed its disappointment over the limited 200 basis points reduction in the interest rate by the State Bank of Pakistan (SBP) on Monday.
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SBP Slashes Benchmark Policy Rate by 200 Basis Points to 13%
Karachi, December 16, 2024 – The State Bank of Pakistan (SBP) announced a significant cut of 200 basis points in its benchmark policy rate, bringing it down from 15% to 13%.
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OGDCL Optimizes Rajian Field, Enhances Oil Output
Karachi, December 16, 2024 – Oil and Gas Development Company Limited (OGDCL) has successfully restored production at a heavy oil well located within its Northern Region field, marking a significant milestone in the company’s efforts to enhance output and operational efficiency.
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FBR Lists Goods for Zero Rating of Sales Tax for TY 2025
Karachi, December 16, 2024 – The Federal Board of Revenue (FBR) has issued a detailed list of goods eligible for zero-rating of sales tax for the tax year 2025.
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