Karachi, September 18, 2023 – MCB Bank has announced its intention to establish an exchange company with an initial paid-up capital of Rs 10 billion. The decision was communicated in a statement released to the Pakistan Stock Exchange (PSX).
(more…)Author: Shahnawaz Akhter
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Pakistan Imports Mobile Phones Worth $180 Million Amid Economic Challenges
Karachi, September 18, 2023 – Pakistan, facing economic challenges and foreign payment constraints, has imported mobile phones worth approximately $180 million in just two months, according to data from the Pakistan Bureau of Statistics (PBS).
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Pakistan’s Car Import Spending Soars to Rs 9.07 Billion in July-August
Karachi, September 17, 2023 – Official statistics released by the Pakistan Bureau of Statistics (PBS) have revealed that Pakistan’s spending on car imports during the first two months of the fiscal year 2023-24 (July-August) amounted to a staggering Rs 9.07 billion.
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FBR Initiates Penal Action Against Failure to Declare Business Bank Accounts
Karachi, September 17, 2023 – The Federal Board of Revenue (FBR) has taken punitive measures against individuals who have failed to declare their business bank accounts, as per recent reports.
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PKR Expected to Continue Upward Trajectory Against Dollar from September 18
Karachi, September 17, 2023 – Market analysts suggest that the Pakistani Rupee (PKR) is poised to sustain its recent upward trend against the US dollar during next week starting from September 18, 2023.
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Pakistan’s Import of Petroleum Products Plunges by 41% in Two Months of FY24
Karachi, September 17, 2023 – Pakistan’s import of petroleum products has seen a substantial decline of 41 percent during the first two months of the fiscal year 2023-24, according to official statistics released by the Pakistan Bureau of Statistics (PBS).
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Karachi Chamber Issues Statement on Hike in Petroleum Prices
Karachi, September 16, 2023 – The Karachi Chamber of Commerce and Industry (KCCI) has voiced its concerns over the recent surge in petroleum prices, which came into effect on September 16, 2023.
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IRIS 2.0 Breakdowns Make Return Filing Challenging, Says KTBA Convener
Karachi, September 16, 2023 – The upgraded return filing portal IRIS 2.0 has faced a series of issues that are making it challenging for taxpayers to fulfill their national duty.
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Pakistan Makes Hat-Trick of Petroleum Price Hike, Raises up to 21% in Just One Month
Karachi, September 16, 2023 – Pakistan non-elected caretaker government has scored a hat-trick by announcing yet another massive hike in petroleum prices. These successive increases come despite growing concerns and protests from the nation, as the government appears to disregard the economic hardships faced by its citizens.
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State Bank Suspends Exchange Company Authorization in Ongoing Crackdown
Karachi, September 15, 2023 – In a continued effort to combat illegal foreign currency transactions, the State Bank of Pakistan (SBP) announced on Friday the suspension of authorization for an exchange company.
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