Karachi, April 3, 2024 – GlaxoSmithKline (GSK) Pakistan’s Chairperson, Lai Kuen Goh, has disclosed a significant decline in the company’s gross margin by 10 percent, attributing it to the prevailing economic conditions in the country.
(more…)Author: Shahnawaz Akhter
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PRL and Air Link Withdraw Intention to Acquire Shell Pakistan
Karachi, April 3, 2024 – Pakistan Refinery Limited (PRL) and Air Link Communication have jointly announced their decision to withdraw their intention to acquire Shell Pakistan, citing failed negotiations with the seller.
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Pakistan Contemplates Carbon Levy on Petroleum Products
Karachi, April 2, 2024 – In a bid to tackle climate change and reduce carbon emissions, Pakistan is contemplating the introduction of a carbon levy on the sale of petroleum products.
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Government Bank Borrowing Reaches Record Rs 4.69 Trillion
Karachi, April 2, 2024 – Official data released on Tuesday revealed a startling surge in government bank borrowing for budgetary support, reaching a staggering Rs 4.69 trillion during the period spanning from July 1, 2023, to March 22, 2024.
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NDP Cigarettes to Cost Rs 300 Billion in FY24: PTC Chairman
Karachi, April 2, 2024 – Zafar Mahmood, Chairman of the Pakistan Tobacco Company (PTC), has projected a significant loss of Rs 300 billion in tax revenue due to the prevalence of non-duty paid (NDP) cigarettes during the current fiscal year 2023-24.
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FBR Reports 3.83 Million Active Taxpayers for Tax Year 2023
Karachi, April 1, 2024 – The Federal Board of Revenue (FBR) disclosed on Monday that the count of Active Taxpayers for tax year 2023 has surged to 3.83 million as of the end of March 2024.
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FBR Starts Tax Registration of Shopkeepers and Traders
Karachi, April 1, 2024 – The Federal Board of Revenue (FBR) has initiated a comprehensive income tax registration process targeting shopkeepers and traders in six major cities across Pakistan.
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Pakistan’s Trade Deficit Widens 56% YoY in March 2024
Islamabad, April 1, 2024 – Official data released on Monday revealed that Pakistan’s trade deficit widened significantly by 56.30 percent on a year-on-year basis in March 2024, highlighting ongoing challenges in the country’s trade balance.
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Pakistan’s Headline Inflation Rises by 20.7% YoY in March 2024
Islamabad, April 1, 2024 – Official data released on Monday revealed that Pakistan’s headline inflation surged by 20.7 percent year on year (YoY) in March 2024, reflecting ongoing challenges in the country’s economic landscape.
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FBR Surpasses Targets, Collects Rs 6.71 Trillion in 9MFY24
Islamabad, March 31, 2024 – The Federal Board of Revenue (FBR) announced a significant achievement on Sunday, revealing that it had successfully collected Rs 6.71 trillion in tax revenue during the first nine months (July – March) of the fiscal year 2023-24.
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