PkRevenue.com – The Economic Survey for the fiscal year 2023-24, launched on Tuesday, revealed a remarkable growth of 6.25 percent in Pakistan’s agriculture sector, a significant increase from last year’s 2.27 percent.
(more…)Author: Shahnawaz Akhter
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GDP Grows by 2.38%: Economic Survey of Pakistan 2023-24
PkRevenue.com – Pakistan launched its Economic Survey for the Fiscal Year 2023-24 on Tuesday, revealing that the country’s GDP grew by 2.38 percent. The survey highlighted resilience and steady improvement across the real, fiscal, and external sectors, as well as financial markets.
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Citizens Rush to File Tax Returns as ATL Grows to 4.54 Million
PkRevenue.com – The number of active taxpayers in Pakistan has surged to 4.54 million for the tax year 2023, driven by concerns over stringent measures by the Federal Board of Revenue (FBR). This significant increase is reflected in the FBR’s weekly Active Taxpayers List (ATL), which accounts for returns filed up to June 9, 2024.
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World Bank Pours $1 Billion into Pakistan’s Hydropower Project
To bolster Pakistan’s energy sector, the Executive Directors of the World Bank on Tuesday approved an additional $1 billion financing for the Dasu Hydropower Stage I (DHP I) Project.
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REAP Suggests Hassle-Free Tax Payment System
PkRevenue.com – The Rice Exporters Association of Pakistan (REAP) has called on the government to implement a one-window tax system for exports to simplify tax payments and aid exporters.
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Value-Added Textile Exporters Reject Proposed Tax Scrutiny
PkRevenue.com – In a united front against the proposed tax changes in the upcoming budget for 2024-25, the value-added textile exporters have rejected the introduction of a minimum tax regime that includes extensive scrutiny.
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KCCI Expresses Disappointment on Meager Rate Cut
PkRevenue.com – The Karachi Chamber of Commerce and Industry (KCCI) on Monday expressed disappointment over the State Bank of Pakistan’s (SBP) recent rate cut, describing it as a meager reduction.
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KTBA Alerts: IRS Portal Glitch Halts Reference Numbers
PkRevenue.com – The Karachi Tax Bar Association (KTBA) has recently spotlighted a significant glitch in the IRS Portal, causing the cessation of displaying reference order numbers. This technical issue has created considerable inconvenience for taxpayers attempting to revise their sales tax returns.
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FPCCI Demands Larger Rate Cut, Rejects 150bps Reduction
Karachi, June 10, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed strong dissatisfaction with the State Bank of Pakistan’s (SBP) recent decision to cut the key policy rate by 150 basis points.
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SBP Announces 150bps Cut in Benchmark Policy Rate to 20.5%
Karachi, June 10, 2024 – In a move aimed at providing much-needed relief to the economy, the State Bank of Pakistan (SBP) has announced a reduction in the benchmark policy rate by 150 basis points, bringing it down to 20.5 percent.
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