Islamabad, October 24, 2024 – In a significant policy shift, the Federal Board of Revenue (FBR) has announced that it will now update the Active Taxpayers List (ATL) on a daily basis, departing from its previous practice of weekly updates.
(more…)Author: Shahnawaz Akhter
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OGDCL Begins Oil and Gas Production from Sanghar District
Islamabad, October 24, 2024 – Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) firm, has successfully commenced oil and gas production from its exploratory well Baloch-2, situated in the Sanghar district of Sindh.
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Pakistan’s Forex Reserves Fall by $94 Million Amid Commercial Bank Decline
Karachi, October 24, 2024 – Pakistan’s foreign exchange (forex) reserves saw a reduction of $94 million in the week ending October 18, 2024, according to data released by the State Bank of Pakistan (SBP) on Thursday. The country’s total forex reserves now stand at $16.017 billion, down from $16.111 billion the previous week, marking a modest but notable decline.
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KSE-100 Index Hits New All-Time High, Closes Near 89,000 Points
Karachi, October 24, 2024 – The Pakistan Stock Exchange (PSX) witnessed a historic milestone on Thursday as the KSE-100 index surged to an unprecedented high, closing just shy of the 89,000 mark.
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KCCI Appeals Govt to Notify Six-Day Workweek to Boost Economy
Karachi, October 24, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has urged the federal government to reintroduce a six-day working week for both federal and provincial government institutions to bolster the economy and facilitate the business sector.
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Bank Deposits in Pakistan Soar to Record High of Rs 31.34 Trillion
By the end of September 2024, bank deposits in Pakistan surged to a historic Rs 31.342 trillion, reflecting a remarkable year-on-year increase of 19.1%, according to data released by the State Bank of Pakistan (SBP). This milestone marks a significant step in the nation’s banking landscape, showcasing robust growth despite the challenges posed by fluctuating interest rates.
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FBR Projects Rs 250 Billion from New Anti-Smuggling Measures
Islamabad, October 24, 2024 – The Federal Board of Revenue (FBR) has announced ambitious plans to generate up to Rs 250 billion through a series of robust anti-smuggling initiatives, signaling a major crackdown on illicit trade.
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FPCCI Advocates Protection of Genuine Taxpayers at FBR Meeting
Karachi, October 23, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has issued a strong appeal for the protection of genuine taxpayers while urging the Federal Board of Revenue (FBR) to focus its enforcement efforts exclusively on tax evaders.
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SBP May Further Cut Policy Rate by 200 bps: Survey
Karachi, October 23, 2024 – The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is expected to further reduce the policy rate by 200 basis points (bps) or 2% in its upcoming meeting scheduled for November 4, 2024. This insight comes from a recent survey conducted by Arif Habib Limited, capturing the sentiment of market participants across various sectors.
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KSE-100 Index Soars to All-Time High of 87,195 in Bullish Trading
Karachi, October 23, 2024 – The Pakistan Stock Exchange (PSX) witnessed an exhilarating surge as the benchmark KSE-100 index reached an all-time high of 87,195 points, marking a significant milestone in the nation’s financial landscape.
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