Karachi, September 15, 2023 – The Federal Board of Revenue (FBR) has taken a significant step by deciding to impose penalties on banks for their failure to provide details of account holders, according to official sources.
(more…)Author: Shahnawaz Akhter
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Pakistan Records 22 Percent Decline in Electricity Charges: Official Statistics
Karachi, September 15, 2023 – In an unexpected revelation, official statistics indicate that Pakistan has experienced a remarkable 22 percent decline in electricity charges.
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Foreign Direct Investment Increases by 16.1% in July-August FY24
Karachi, September 14, 2023 – Foreign Direct Investment (FDI) in Pakistan has demonstrated a robust increase of 16.1 percent during the first two months of the fiscal year 2023-24, according to data released by the State Bank of Pakistan (SBP) on Thursday.
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Pakistan Needs $24 Billion for Foreign Repayment in FY24
Karachi, September 14, 2023 – The governor of the State Bank of Pakistan (SBP) has revealed that Pakistan will require $24 billion for foreign repayment during the fiscal year 2023-24.
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Pakistan’s Current Account Deficit Shrinks by 54% in First Two Months of FY24
Karachi, September 14, 2023 – Pakistan’s current account deficit (CAD) has seen a substantial reduction of 54 percent during the first two months of the fiscal year 2023-24, according to data from the State Bank of Pakistan (SBP).
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SBP Surprises Markets by Keeping Benchmark Policy Rate Unchanged at 22%
Karachi, September 14, 2023 – In a surprising move, the State Bank of Pakistan (SBP) announced on Thursday that it would maintain the benchmark policy rate at the existing level of 22 percent, contrary to various forecasts of an anticipated rate hike.
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FBR to Impose Penalties on Businesses for Not Displaying Tax Numbers or Licenses
Karachi, September 13, 2023 – The Federal Board of Revenue (FBR) has announced strict measures to ensure that businesses display their National Tax Numbers (NTNs) and tax licenses prominently. Those failing to comply will face financial penalties.
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Pakistan Faces Challenging Decision on Petroleum Prices Amidst Global Oil Price Surge
Karachi, September 13, 2023 – Pakistan is facing a challenging decision regarding the revision of petroleum prices for the second half of September 2023, particularly due to the recent surge in global oil prices.
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Government Bank Borrowing Surges by 72% in First Two Months of FY24
Karachi, September 13, 2023 – Government borrowing from banks has seen a substantial surge of 72 percent during the initial two months of the fiscal year 2023-24, as revealed by official data released on Tuesday.
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Bank Deposits Reach New Record High at Rs 26.11 Trillion
Karachi, September 12, 2023 – Pakistan’s bank deposits have surged to a historic high, reaching Rs 26.11 trillion by the end of August 2023, as per data released by the State Bank of Pakistan (SBP) on Tuesday.
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