KARACHI, August 22, 2024 – Pakistan’s foreign exchange reserves experienced a slight uptick, closing at $14.67 billion as of August 16, 2024, according to a report released by the State Bank of Pakistan (SBP) on Thursday. This marks a modest increase of $22 million from the previous week’s reserves, which stood at $14.645 billion on August 9, 2024.
(more…)Author: Shahnawaz Akhter
-
Pakistan Equities Surge to 78,793 Points on Treasury Auction
Karachi, August 22, 2024 – Pakistan equities continued its upward trajectory on Thursday, with the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) rising by 532 points to close at 78,793 points. This marked a significant gain from the previous day’s closing of 78,261 points, reflecting investor confidence and sustained market momentum.
(more…) -
FBR Sets Income Tax Rates for Foreign Shipping Operators
Karachi, August 22, 2024 – The Federal Board of Revenue (FBR) has officially set the income tax rates applicable to shipping and air transport services operated by non-resident entities.
(more…) -
Gold Hits Rs 261,000 in Record-Breaking Journey in Pakistan
Karachi, August 21, 2024 – Gold prices in Pakistan soared to a new record high on Wednesday, reaching Rs 261,000 per tola after gaining Rs 300 in value. This historic rise marks a significant milestone for the precious metal in the domestic market, as it continues to attract investors amid economic uncertainty.
(more…) -
Rupee Slips 18 Paisas to Dollar Amid Import Payment Pressure
Karachi, August 21, 2024 – The Pakistani rupee continued its downward trend on Wednesday, shedding 18 paisas against the US dollar, closing at PKR 278.52 in the interbank foreign exchange market.
(more…) -
FBR Clarifies Tax on Non-Resident Payments for TY 2024-25
Karachi, August 20, 2024 – The Federal Board of Revenue (FBR) has recently outlined the income tax rates applicable to payments made to non-residents during the tax year 2024-25.
(more…) -
Private Sector Loan Retirements Surge to Over Rs 400 Billion
KARACHI, August 20, 2024 – In a significant financial development, the private sector has retired over Rs 400 billion in loans from July 1 to August 9, 2024, according to data released by the State Bank of Pakistan (SBP) on Tuesday.
(more…) -
FBR Issues Fresh Instructions for Submitting PERs
Islamabad, August 20, 2024 – The Federal Board of Revenue (FBR) has issued fresh instructions for the submission of Performance Evaluation Reports (PERs) for all employees of the Inland Revenue Service and Pakistan Customs Service.
(more…) -
FBR Threatens Disciplinary Action Over Choice Postings
Karachi, August 20, 2024 – The Federal Board of Revenue (FBR) issued a stern warning on Tuesday to its officers, cautioning against the use of influence to secure preferential or “choice” postings within the organization.
(more…) -
KSE-100 Index Slides 85 Points Amid Investor Sell-Off
Karachi, August 20, 2024 – The Pakistan Stock Exchange (PSX) witnessed a notable dip in its benchmark KSE-100 index on Tuesday, shedding 85 points amid a sell-off by investors looking to lock in profits.
(more…)