Karachi, August 27, 2024 – Pakistan State Oil (PSO) has reported an extraordinary 180% increase in net profit for the fiscal year 2023-24, marking a significant achievement for the country’s leading oil marketing company.
(more…)Author: Shahnawaz Akhter
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SITE Association Endorses Traders August 28 Strike
Karachi, August 27, 2024 – The SITE Association of Industry, a prominent representative body of industrialists in Karachi, has declared its support for the traders’ strike set for August 28, 2024.
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FPCCI Demands Immediate Cut in Policy Rate to 15%
Karachi – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called on the State Bank of Pakistan (SBP) to immediately reduce the key policy rate to 15%. This demand comes in response to what the FPCCI views as insufficient cuts in the policy rate over the last two monetary policy meetings.
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FBR Suspends Customs Officer for Choice Posting Pressure
KARACHI, August 27, 2024: The Federal Board of Revenue (FBR) has suspended Jawad-ul-Hassan, a BS-18 officer of the Pakistan Customs Service (PCS), for 120 days due to alleged misconduct involving pressuring authorities for a preferred posting.
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KCCI Members Urged to Diversify Exports to Malawi
Karachi, August 26, 2024 – The Honorary Consul General of the Republic of Malawi, Abdullah Zaki, has encouraged the members of the Karachi Chamber of Commerce and Industry (KCCI) to diversify their exports to Malawi.
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PTBA Suggests Measures for Efficient ATIR Operations
Karachi, August 26, 2024 – The Pakistan Tax Bar Association (PTBA) has proposed several measures to enhance the operational efficiency of the Appellate Tribunal Inland Revenue (ATIR).
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Pakistan Stocks Shed 230 Points Amid Profit Selling
Karachi, August 26, 2024 – Pakistan stocks fell on Monday as the KSE-100 index of the Pakistan Stock Exchange (PSX) lost 230 points, closing at 78,571 points, down from last Friday’s closing of 78,801 points. The decline was largely due to profit-taking by investors, who opted to sell off their holdings as the index neared the 79,000-point psychological level.
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FBR Unveils Tax Guidelines for Salary Income in 2024-25
Karachi, August 26, 2024 – The Federal Board of Revenue (FBR) has issued a detailed explanation regarding the taxable salary income for the tax year 2024-25, according to the Income Tax Ordinance, 2001, updated until June 30, 2024.
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FBR Invites Traders for Negotiations Ahead of Shutter Down
Islamabad, August 25, 2024 – The Federal Board of Revenue (FBR) has reached out to traders for negotiations concerning a controversial tax scheme ahead of a shutter-down strike planned for August 28, 2024. This move comes as the traders’ community in Karachi and other parts of the country announced their decision to close shops and businesses in protest against what they describe as unfair taxation and inflated utility bills.
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Karachi Traders Firm on August 28 Shutter Down
Karachi, August 25, 2024 – In a heated press conference held on Sunday, prominent traders associations from Karachi announced their firm stance to proceed with a shutter-down strike on August 28, 2024.
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