Karachi, July 27, 2024 – Analysts at Arif Habib Limited forecast a positive outlook for Pakistan stocks in the upcoming week, driven by the expectation of a policy rate cut at the monetary policy meeting scheduled for July 29, 2024.
(more…)Author: Shahnawaz Akhter
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FBR Simplifies Active Taxpayer Status Verification
Karachi, July 27, 2024 – The Federal Board of Revenue (FBR) has implemented new, streamlined methods for taxpayers to verify their active status, which is essential for availing tax benefits. Individuals and businesses can now easily confirm their eligibility through several accessible channels.
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Policy Announcement: SBP May Surprise Market
Karachi, July 27, 2024 – The State Bank of Pakistan (SBP) is poised to potentially surprise market expectations with a rate cut in its upcoming policy announcement on July 29, 2024.
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Pakistan Stock Exchange Extends Losses with 440 Points Drop
Karachi, July 26, 2024 – The Pakistan Stock Exchange (PSX) witnessed a further decline on Friday, with the benchmark KSE-100 index falling by 440 points. The index closed at 78,029 points, down from the previous day’s closing of 78,469 points, marking a significant drop of -0.56%.
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SSGC Completes Dedicated Gas Pipeline for SITE Industries
Karachi, July 26, 2024 – Sui Southern Gas Company (SSGC) has achieved a significant milestone by laying a dedicated 24-inch diameter, 31-kilometer-long high-pressure gas pipeline exclusively for the industrial consumers in the SITE area of Karachi.
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SRB Imposes 15% Sales Tax on Call Center Services
Karachi, July 26, 2024 – The Sindh Revenue Board (SRB) has announced the imposition of a 15% sales tax on services provided by call centers for the tax year 2024-25.
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Sindh Grants Sales Tax Exemption for Construction Services
Karachi, July 26, 2024 – The Sindh government has announced a significant exemption of sales tax on services rendered by construction companies, subject to specific conditions, in a move aimed at stimulating the construction sector and facilitating growth.
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SBP Reserves Plummet by $397 Million Amid Debt Repayments
Karachi, July 25, 2024 – The State Bank of Pakistan (SBP) announced on Thursday a significant drop of $397 million in its official foreign exchange reserves for the week ending July 19, 2024. The reserves declined from $9.424 billion on July 12, 2024, to $9.027 billion by the end of the week.
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Late Selling Spree Drags Pakistan Stocks Down by 928 Points
Karachi, July 25, 2024 – The Pakistan Stocks experienced a dramatic decline on Thursday, with the benchmark KSE-100 index shedding 928 points amid a late-session selling spree. The index closed at 78,469 points, a sharp drop from the previous day’s closing of 79,397 points.
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SRB Releases Tax Rates for Professionals, Consultants in TY 2025
Karachi, July 25, 2024 – The Sindh Revenue Board (SRB) has issued updated sales tax rates for services provided by professionals and consultants for the tax year 2024-25.
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