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.
(more…)Author: Shahnawaz Akhter
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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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Gallup Survey: Economic Woes Deepen Business Pessimism
Karachi, July 25, 2024 – Business owners across Pakistan have expressed heightened pessimism about their future prospects, citing continued political turmoil and a new tax-heavy budget as major concerns, according to a recent Gallup Pakistan survey.
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FBR Unveils Harsh Penalties for Tax Fraud in Latest Reform Blitz
Karachi, July 25, 2024 – The Federal Board of Revenue (FBR) has implemented stringent penalties for sales tax fraud, signaling a robust crackdown on offenders under amended legislation.
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