Karachi, January 17, 2025 — The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) soared by 1,435 points on Friday, bolstered by reports of a significant current account (CA) surplus. This sharp rally reflects growing optimism in the market as Pakistan’s economic indicators improve.
(more…)Author: Shahnawaz Akhter
-
SBP Reports 20% Surge in Foreign Direct Investment in 1HFY25
Karachi, January 17, 2025 – The State Bank of Pakistan (SBP) announced on Friday a significant 20% increase in foreign direct investment (FDI) for the first half (July–December) of the fiscal year 2024-25, highlighting a positive shift in the country’s investment landscape.
(more…) -
Pakistan Celebrates Historic $1.21 Billion CA Surplus in 1HFY25
Karachi, January 17, 2025 – Pakistan has reached a remarkable milestone, posting a record $1.21 billion current account (CA) surplus for the first half of fiscal year 2024-25 (January – December 2024), according to the State Bank of Pakistan (SBP). This achievement marks a significant turnaround from the $1.40 billion deficit recorded during the same period in the previous fiscal year.
(more…) -
FBR Lowers Corporate Tax Rate for Banks to 43%
Karachi, January 17, 2025 – In a major development for Pakistan’s banking sector, the Federal Board of Revenue (FBR) has announced a reduction in the corporate tax rate for banks to 43%, down from the previous 44%. This revised tax rate will take effect for the tax year 2026, commencing on January 1, 2025.
(more…) -
FBR Establishes Data Governance Office
Islamabad, January 16, 2025 – The Federal Board of Revenue (FBR) has taken a significant step towards enhancing its data management capabilities by announcing the establishment of a dedicated Data Governance Office. This initiative aligns with the recently approved Data Governance and Information Security Policy of the FBR.
(more…) -
KSE-100 Sheds 659 Points in Bearish Trading
Karachi, January 16, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) experienced a sharp decline on Thursday, shedding 659 points as bearish sentiments dominated the trading session. The KSE-100 index closed at 113,837 points, down from the previous day’s closing of 114,496 points.
(more…) -
Modes of Notice Service under Sales Tax Act
The Sales Tax Act, 1990, clearly outlines the procedures for service of notices, orders, or decisions to taxpayers or other persons under its jurisdiction. These procedures are governed by Section 56 of the Act, which specifies the acceptable modes of service to ensure proper communication and compliance.
(more…) -
Extensive Tools Empower IR Officers for Tax Recovery
Karachi, January 16, 2025 – Officers of Inland Revenue (IR) have been provided with extensive mechanisms under the Sales Tax Act, 1990, to ensure the recovery of outstanding sales tax arrears. These measures are outlined in Section 48 of the Act, offering a comprehensive framework to address cases of unpaid taxes.
(more…) -
FBR Workforce Accounts for Only 2% of Total Tax Collection
Karachi, January 15, 2025 – A startling revelation has emerged from the Federal Board of Revenue’s (FBR) official tax collection data, exposing that the vast network of FBR officials contributed a mere 2% to the overall tax collection efforts.
(more…) -
KSE-100 Index Loses 308 Points in Volatile Trading Session
Karachi, January 15, 2025 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) experienced a significant decline of 308 points during a volatile trading session on Wednesday. The index ended the day at 114,496 points, a drop from the previous session’s close of 114,809 points.
(more…)