Karachi, November 10, 2023 – Pakistan has experienced a significant uptick of 26 percent in its total debt during the first quarter (July – September) of the current fiscal year 2023-24, as revealed by official data released on Friday.
(more…)Author: Shahnawaz Akhter
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Bank Deposits in Pakistan Hit New Peak at Rs 26.40 Trillion
Karachi, November 10, 2023 – Bank deposits in Pakistan have hit new peak at Rs 26.40 trillion by the end of October 2023, according to official data released on Friday by the State Bank of Pakistan (SBP).
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Pakistan Experiences 11.54% Surge in Foreign Remittances Amidst Crackdown on Smuggling
Karachi, November 10, 2023 –Pakistan has recorded a substantial 11.54% increase in foreign remittances, reaching $2.46 billion in October 2023. This surge, as reported by the State Bank of Pakistan (SBP) on Friday, is attributed to the government’s robust crackdown against currency smuggling and hoarding.
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Tax Rates on Foreign Transactions via Credit or Debit Cards Unveiled for Tax Year 2024
Tax rates on foreign transactions through credit or debit cards have been unveiled for tax year 2024 by the Federal Board of Revenue (FBR).
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Pakistan Stock Market Achieves New All-Time High at 54,261 Points
Karachi, November 8, 2023 – In a remarkable display of resilience and growth, the Pakistan stock market has soared to an unprecedented level, reaching a new all-time high of 54,261 points on Wednesday.
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Unclaimed Prize Bonds Worth Rs 5 Billion Linger Despite Deadline Extension
Karachi, November 8, 2023 – In a startling revelation, official data from the State Bank of Pakistan (SBP) has shown that discontinued bearer prize bonds worth a staggering Rs 5 billion remain unclaimed as of September 30, 2023.
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FBR Directs 52 IRS Officers to Submit Asset Declaration and Performance Reports
Islamabad, November 7, 2023 – The Federal Board of Revenue (FBR) has taken a significant step to ensure transparency and compliance within its ranks. In an official communication issued today, the FBR directed 52 officers from the Inland Revenue Service (IRS) to promptly submit their asset declaration and performance reports.
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UBL Continues Legal Battle Against SBP’s Rs 4.09 Billion Penalty Since 2016
Karachi, November 7, 2023 – United Bank Limited (UBL) has been embroiled in a legal dispute with the State Bank of Pakistan (SBP) since 2016 over a penalty totaling Rs 4.09 billion.
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Pakistan Customs to Sell Confiscated Goods at 50% Discount to Utility Stores
Karachi, November 6, 2023 – Pakistan Customs has received authorization to offer confiscated and seized goods at a substantial 50 percent discount to the Utility Stores Corporation (USC).
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Number of Active Taxpayers in Pakistan Crosses First-Time 5-Million Mark
Karachi, November 6, 2023 – Pakistan has achieved a historic milestone as the number of active taxpayers in the country surpassed the 5-million mark for the first time.
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