In the latest turn of events in Pakistan’s financial landscape, the benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) has hit record high levels. However, despite this apparent milestone, the index’s performance still lags significantly behind its peak in 2017, especially when measured in dollar terms.
(more…)Author: Shahnawaz Akhter
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FBR Set to Launch Income Tax General Order for Non-Filers
Karachi, April 12, 2024 – The Federal Board of Revenue (FBR) is gearing up to launch an Income Tax General Order aimed at identifying and penalizing non-filers who possess taxable income but have failed to file their income tax returns.
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Pakistan Inflation Expected to Ease to 15% in FY2025: ADB Report
Karachi, April 11, 2024 – Pakistan is anticipated to witness a significant contraction in inflation to 15 percent during the next fiscal year 2024-25, according to a report released by the Asian Development Bank (ADB) on Thursday.
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Three out of 5 Women Unbanked in Pakistan: ADB Report
Karachi, April 11, 2024 – A recent report by the Asian Development Bank (ADB) has highlighted a stark reality: three out of every five women in Pakistan are excluded from the banking system, representing one of the lowest financial inclusion rates for women globally.
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Asian Development Bank Projects 1.9% FY24 Growth for Pakistan
Islamabad, April 11, 2024 – The Asian Development Bank (ADB) has released its flagship Asian Development Outlook (ADO), forecasting a GDP growth rate of 1.9 percent for Pakistan during the fiscal year 2023-24.
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FBR to Publish List for Blocking Phones and Power Connections
Karachi, April 11, 2024 – The Federal Board of Revenue (FBR) will publicly disclose a list of non-filers and take stringent measures, including the blocking of phone, electricity, and gas connections, as part of its crackdown on tax evasion.
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Govt Borrowing Skyrockets by 138% to Rs 4.84 Trillion in 9MFY24
Karachi, April 11, 2024 – Official data reveals a staggering surge in government borrowing from the banking system, soaring to Rs 4.84 trillion during the initial nine months (July – March) of the fiscal year 2023-24.
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Understanding Your Tax Registration Requirements with FBR
Tax registration with the Federal Board of Revenue (FBR) is an essential step for individuals and entities operating in Pakistan, ensuring compliance with income tax regulations and facilitating the filing of tax returns.
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Pakistan Customs Revises Valuation of Potato Chips After 7 Years
Karachi, April 10, 2024 – Pakistan Customs has initiated a significant revision in the valuation of imported potato chips to align them with international market standards. This move comes after approximately seven years since the last valuation update, reflecting the evolving dynamics of global trade.
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Utility Stores Posts Highest Ever Ramadan Rs 44 billion Sales
Islamabad, April 9, 2024 – The Utility Stores Corporation (USC) has marked a historic achievement with record-breaking sales of Rs 44 billion during the holy month of Ramadan, surpassing its set target of Rs 40 billion under the Prime Minister’s Relief Package.
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