Karachi, August 23, 2024 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed the week on a slightly positive note, ending Friday’s session at 78,801 points.
(more…)Author: Shahnawaz Akhter
-
FBR Unveils Deemed Income Tax Rates for TY 2024-25
Karachi, August 23, 2024 – The Federal Board of Revenue (FBR) has announced the deemed income tax rates for the tax year 2024-25, a move that is expected to impact various resident taxpayers across Pakistan. The new rates, which have been outlined in the Income Tax Ordinance, 2001, updated as of June 30, 2024, come into effect under Section 7E of the Ordinance.
(more…) -
Pakistan’s Forex Reserves Inch Up, Reaching $14.67 Billion
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…) -
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…)