Karachi, September 3, 2024 — The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) issued a vehement denunciation on Tuesday against any potential plans to introduce a mini-budget aimed at generating additional tax revenue.
(more…)Author: Shahnawaz Akhter
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Pakistan Stock Market Gains 73 Points Amid Volatility
Karachi, September 3, 2024 — The Pakistan stock market saw a modest gain on Tuesday, with the benchmark KSE-100 index closing 73 points higher. The index ended the day at 78,356 points, up from the previous day’s close of 78,283 points.
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Millat Tractors Limited Halts Sales Pending FBR Clarification
Karachi, September 3, 2024 – Millat Tractors Limited, one of Pakistan’s leading tractor manufacturers, announced on Tuesday that it will continue to restrict its sales until further notice, awaiting clarification from the Federal Board of Revenue (FBR) regarding the sales tax refund procedure and its applicability.
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Pakistan Reports 14% Surge in Exports During 2MFY25
Karachi, September 3, 2024 – Pakistan recorded a significant increase in its export earnings during the first two months (July–August) of the fiscal year 2024-25, showcasing a robust economic performance.
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NBP Faces Rs 100 Billion Deposit Hit After TSA Rollout
Karachi, September 2, 2024 – The National Bank of Pakistan (NBP) reported a significant impact on its deposits following the implementation of the Treasury Single Account (TSA), with a recorded effect of Rs 100 billion.
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FBR Suspends Lady IR Officer for Issuing Illegal Refund
Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) has suspended Ms. Shiraza Hameed, a Deputy Commissioner of the Inland Revenue Service (IRS), following allegations of issuing an illegal refund.
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FBR Appoints Junaid Jalil as Member Customs Operations
Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) announced on Monday the appointment of Muhammad Junaid Jalil Khan as the new Member Customs Operations. Khan, an officer of BS-21 in the Pakistan Customs Service (PCS), was previously serving as the Chief Collector of Customs Enforcement (South) Karachi.
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Inflation for August 2024 Hits 34-Month Low in Pakistan
Islamabad, September 2, 2024 – The headline inflation rate in Pakistan, measured by the Consumer Price Index (CPI), recorded its lowest level in 34 months in August 2024, according to data released by the Pakistan Bureau of Statistics (PBS) on Monday.
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Pakistan Stocks Lose 205 Points in Mixed Trading
Karachi, September 2, 2024 – Pakistan stocks experienced a mixed trading session on Monday, ultimately closing with a loss of 205 points. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended the day at 78,283 points, down from last Friday’s closing of 78,488 points.
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FBR Lists Deductions for Computing Business Income Tax
Karachi, September 2, 2024 – The Federal Board of Revenue (FBR) has outlined specific deductions to aid taxpayers in accurately computing their business income tax.
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