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).
(more…)Author: Shahnawaz Akhter
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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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FBR to Impose Penalties on Banks for Non-Provision of Account Holder Details
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.
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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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