Karachi, February 28, 2024 – Bank Alfalah, one of Pakistan’s prominent banking institutions, has set aside a substantial sum of Rs 3.6 billion as a precautionary measure in anticipation of potential windfall tax payments.
(more…)Author: Shahnawaz Akhter
-
FPCCI Advocates for Corruption-Free Taxation System in Pakistan
Karachi, February 28, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) is pressing for a corruption-free taxation system in Pakistan, aiming for fair treatment within the tax machinery.
(more…) -
MCB Bank Anticipates 3% Cut in Policy Rate During CY24
Karachi, February 28, 2024 – In a recent corporate briefing, MCB Bank has set its sights on a potential reduction of up to 3 percent in the existing policy rate of 22 percent during the current calendar year, according to insights provided by analysts at Arif Habib Limited.
(more…) -
Circular Debt and High-Interest Rates Pose Challenges for PSO
Karachi, February 28, 2024 – Pakistan State Oil (PSO) is grappling with formidable challenges as circular debt and soaring interest rates have substantially increased financial costs, according to a report unveiled on Wednesday.
(more…) -
Govt’s Bank Borrowing Exceeds Rs 4 Trillion by Mid-February
Karachi, February 28, 2024 – Alarming figures released by the State Bank of Pakistan (SBP) reveal that the government’s bank borrowing has surged beyond Rs 4 trillion by mid-February of the current fiscal year.
(more…) -
FPCCI Disapproves Three-Fold Rise in KGTL Terminal Charges
Karachi, February 27, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has strongly criticized the Karachi Gateway Terminal Limited (KGTL) for implementing a three-fold increase in terminal charges, raising concerns within the business community.
(more…) -
Bank Deposits Reach Rs 27.54 Trillion, Marking 21% YoY Growth
Karachi, February 26, 2024 – The State Bank of Pakistan (SBP) reported a significant surge in bank deposits, reaching a staggering Rs 27.54 trillion by the end of January 2024, marking a substantial 21% year-on-year growth.
(more…) -
Pakistan Achieves Record High with 5.73 Million Active Taxpayers
Karachi, February 26, 2024 – Pakistan has set a historic record with 5.73 million active taxpayers, according to official data released by the Federal Board of Revenue (FBR) on Monday.
(more…) -
Habib Bank Launches HBL Zarai Services for Agri Development
Burewala, February 26, 2024 –Habib Bank Limited (HBL) unveiled its latest venture, HBL Zarai Services, in Burewala on Monday for advancing agricultural development and bolstering food security in Pakistan,
(more…) -
UAE Conglomerate Expresses Interest in Acquiring TME Shares
Karachi, February 26, 2024 – TPL Trakker Limited, a prominent player in location-based services and fleet management, has disclosed that a UAE-based conglomerate is keen on acquiring a substantial equity stake in Trakker Middle East (TME), an associated company of TPL Trakker Limited.
(more…)