Washington, DC, November 15, 2023 – The International Monetary Fund (IMF) disclosed on Wednesday that it has successfully reached a staff-level agreement (SLA) with Pakistani authorities on the first review of their stabilization program. The program, backed by the IMF’s $3 billion Stand by Arrangement (SBA), aims to bolster Pakistan’s economic stability.
(more…)Author: Shahnawaz Akhter
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Sindh Minister Criticizes Pakistan’s Subsidized Gas Policy as Counter to Global Norms
Karachi, November 15, 2023 – Pakistan’s subsidized gas policy for residential consumers has come under scrutiny by Sindh’s Provincial Minister for Revenue, Industries, and Commerce, Muhammad Younus Dagha.
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Karachi Safe City Project to Become Functional by January 2024
Karachi, November 15, 2023 – Brig. (R) Haris Nawaz, Sindh Caretaker Minister for Home & Prisons Department, announced on Tuesday that the Karachi Safe City Project is slated to become operational by January 2024, providing a significant boost to the city’s efforts to combat street crimes and enhance public safety.
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MSCI Review Maintains Status Quo for Pakistan Main Index
November 15, 2023 – In its latest update on the November 2023 Index Review, MSCI has announced that there will be no changes in the constituents for Pakistan in the main Frontier Market Index.
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FBR Initiates Document Verification of BS-16 Customs Officers
Islamabad, November 15, 2023 – The Federal Board of Revenue (FBR) has undertaken the thorough verification of documents submitted by officers in the BS-16 grade of the Pakistan Customs Department.
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Sales Tax Registration Made Mandatory for Various Entities in Tax Year 2024
The Federal Board of Revenue (FBR) has updated the Sales Tax Act, 1990 to make sales tax registration mandatory for various entities during the tax year 2024.
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Time and Manner of Sales Tax Payment in Pakistan Explained for Tax Year 2024
Time and manner of sales tax payment for Tax Year 2024 have been explained by the Federal Board of Revenue (FBR) through updated Sales Tax Act, 1990.
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Preventing Passing On of Excess Sales Tax to Consumers in Pakistan
Preventing Passing on of excess sales tax to consumers in Pakistan has been outlined through Section 3B of Sales Tax Act, 1990.
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SITE Karachi Industries Protest Soaring Gas Tariff, Fear Closure and Job Losses
Karachi, November 13, 2023 – The SITE Association of Industry (SAI) in Karachi has vehemently opposed the significant surge in gas tariffs, citing the adverse impact it is having on the industrial sector.
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