Islamabad, November 1, 2024 – The Federal Board of Revenue (FBR) announced on Friday the transfer and posting of 35 senior officers of the Pakistan Customs Service (PCS) in BS-19 and BS-20. The reshuffling aims to streamline operations and improve management within the Customs Service, ensuring strategic placement of experienced officers in key positions nationwide.
(more…)Author: Shahnawaz Akhter
-
FBR Notifies Key Reshuffle of IRS Officers in BS-20 and BS-21
Islamabad, November 1, 2024 – The Federal Board of Revenue (FBR) issued a notification on Friday detailing a significant reshuffle among Inland Revenue Service (IRS) officers in grades BS-20 and BS-21.
(more…) -
Bulls Dominate PSX as KSE-100 Index Surges by 1,893 Points
Karachi, November 1, 2024 – The Pakistan Stock Exchange (PSX) witnessed a robust bullish surge on Friday, as the KSE-100 index rallied to close with a substantial gain of 1,893 points, marking one of the strongest performances in recent weeks.
(more…) -
FPCCI Calls for Aggressive Rate Cut in Upcoming Monetary Policy
Karachi, November 1, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the State Bank of Pakistan (SBP) to implement a substantial interest rate cut in the upcoming Monetary Policy Statement (MPS) scheduled for November 4, 2024.
(more…) -
KCCI Urges SBP for Bold 500bps Rate Cut to Stimulate Economy
Karachi, November 1, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has called on the State Bank of Pakistan (SBP) to implement a substantial interest rate cut of 500 basis points, citing a marked decline in inflation and urging economic revival measures.
(more…) -
Pakistan’s Trade Deficit Contracts by 5.59% in 4MFY25
Islamabad, November 1, 2024 – Pakistan’s trade deficit narrowed by 5.59% during the first four months (July-October) of the fiscal year 2024-25, according to the latest data from the Pakistan Bureau of Statistics (PBS). The trade deficit stood at $6.97 billion, a significant reduction from $7.39 billion recorded during the same period last year, signaling a positive shift in the country’s trade balance.
(more…) -
Pakistan’s CPI Inflation Rises to 7.2% in October 2024
Islamabad, November 1, 2024 – Pakistan’s headline inflation, as gauged by the Consumer Price Index (CPI), surged to 7.2% on a year-on-year basis in October 2024, up from 6.9% in September. This increase, while marginal, underscores an emerging inflationary trend following the more extreme inflationary environment of 2023, which saw a dramatic 26.8% rise in prices year-on-year in October.
(more…) -
UBL Confirms Offer for Amalgamation with Silkbank
Karachi, November 1, 2024 – United Bank Limited (UBL) confirmed on Friday that it has officially extended an amalgamation offer to Silkbank Limited, aiming to consolidate Silkbank’s operations within UBL’s larger financial framework.
(more…) -
FBR Issues Significant Tax Demand Against Bank Makramah
Karachi, November 1, 2024 – The Federal Board of Revenue (FBR) has imposed a substantial tax demand against Bank Makramah, citing discrepancies in its financial reporting. According to the bank’s recently published financial statement, the FBR has disputed various tax treatments applied by Bank Makramah, leading to huge tax demand, which the bank has challenged through appeals.
(more…) -
FBR Unveils ATL 2024: 5.34 Million Taxpayers Get Active Status
Islamabad, November 1, 2024 – The Federal Board of Revenue (FBR) released its Active Taxpayers List (ATL) on Friday, marking a pivotal shift in Pakistan’s tax compliance framework. This year’s ATL reflects filings based on income tax returns for the fiscal year 2024, with approximately 5.34 million taxpayers now classified as active following timely submissions by October 31, 2024.
(more…)