Karachi, November 19, 2024 – The Federal Board of Revenue (FBR) is preparing to take legal action against banks and other companies for submitting incomplete or inaccurate declarations, a move that underscores the government’s commitment to strengthening compliance within the financial sector.
(more…)Author: Shahnawaz Akhter
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FBR Announces Changes in Customs Formation Nomenclature
Islamabad, November 18, 2024 – The Federal Board of Revenue (FBR) has announced a series of changes to the nomenclature of customs formations across Pakistan. These adjustments aim to align the customs framework with modern operational needs, enhancing clarity and efficiency.
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Port Congestion Worsens Amid Green Channel Policy Changes
Karachi, November 18, 2024 – A recent abrupt change in the Green Channel parameters by the Pakistan Customs Department has thrown the nation’s import system into disarray, leaving thousands of containers stranded at ports and causing severe financial repercussions for importers.
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KSE-100 Index Closes Near 95K, Hits New Record High
Karachi, November 18, 2024 – The Pakistan Stock Exchange (PSX) saw a significant milestone on Monday as the benchmark KSE-100 index closed near the 95,000 mark, setting a new all-time high.
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International Defense Exhibition IDEAS 2024 Begins November 19
Karachi, November 18, 2024 – The 12th edition of the prestigious International Defense Exhibition and Seminar (IDEAS) 2024 will open its doors on Tuesday, November 19, at the EXPO Centre in Karachi.
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MYT Pending, KE Fails to Transmit Financial Statements
Karachi, November 18, 2024 – K-Electric (KE) has faced a setback in transmitting its annual financial statements and holding its Annual General Meeting (AGM) due to the pending determination of its Multi-Year Tariff (MYT) by the National Electric Power Regulatory Authority (NEPRA).
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FBR Updates Active Taxpayers List for 2024 to 5.52 Million
The Federal Board of Revenue (FBR) has revised its Active Taxpayers List (ATL) for the tax year 2024, reflecting a significant increase in active taxpayers. As of November 18, 2024, the list includes 5.52 million individuals, a rise from the 5.37 million taxpayers recorded in the initial ATL published on November 1, 2024.
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Pakistan Sees 32.3% FDI Growth in 4MFY25 Period
Pakistan experienced a significant 32.3% surge in net Foreign Direct Investment (FDI) during the first four months of FY25, reaching $904.3 million, according to data released by the State Bank of Pakistan (SBP) on Monday. This marks a notable improvement from the $683.5 million recorded during the same period last fiscal year.
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Pakistan Posts $349 Million CA Surplus in October 2024
Karachi, November 18, 2024 – Pakistan recorded a current account (CA) surplus of $349 million in October 2024, a notable improvement from a deficit of $287 million in the same month last year, according to data released by the State Bank of Pakistan (SBP).
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Pakistan’s Knitwear Exports Surge 19% in 4MFY25
Karachi, November 17, 2024 – Pakistan’s knitwear exports have witnessed an impressive growth of 19% during the first four months (July to October) of the current fiscal year 2024-25, according to the latest data released by the Pakistan Bureau of Statistics (PBS).
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