Author: Shahnawaz Akhter
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PSX Proposes Tax Relief Measures in Budget 2024-25
The Pakistan Stock Exchange (PSX) has submitted a series of tax proposals to the federal government for consideration in the upcoming budget for the fiscal year 2024-25.
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Pakistan’s Textile Exports Decline by 0.65% in 8MFY24
Karachi, March 15, 2024 – Pakistan’s textile sector, a cornerstone of the nation’s economy, has encountered a slight setback with a nominal decrease of 0.65 percent in exports during the first eight months (July – February) of the fiscal year 2023-24. Data released by the Pakistan Bureau of Statistics (PBS) reveals that textile exports amounted…
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KCCI Fears Adverse Impact of New Sales Tax Restrictions
Karachi, March 15, 2024 – The Karachi Chamber of Commerce and Industry (KCCI) has raised concerns over the recently introduced sales tax restrictions, warning that they could severely impact compliant taxpayers.
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SBP Set to Unveil Monetary Policy on March 18
Karachi, March 15, 2024 – The State Bank of Pakistan (SBP) announced on Friday that it will unveil its monetary policy on Monday, March 18, 2024.
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FBR Transfers 44 Senior IRS Officers in Major Overhaul
Islamabad, March 15, 2024 – The Federal Board of Revenue (FBR) has undertaken a significant restructuring by transferring 44 senior officers of the Inland Revenue Service (IRS) in a major reshuffle announced on Friday.
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Pakistan Witnesses 33% Surge in Inflation as Ramadan Starts
Islamabad, March 15, 2024 – Pakistan has experienced a substantial 33 percent increase in inflation on a year-on-year (YoY) basis for the week ending March 14, 2024, according to official data released on Friday.
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KTBA Urges FBR Clarity on Beneficial Owner Record Form
Karachi, March 14, 2024 – The Karachi Tax Bar Association (KTBA) has raised concerns over the ambiguity surrounding the submission of forms related to the record of beneficial owners, urging the Federal Board of Revenue (FBR) to provide clarity on the matter.
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Bank Deposits of Salary Persons Jump by 25% to Rs 3.77 Trillion
Karachi, March 14, 2024 – In response to challenging economic conditions, bank deposits held by salary earners have surged by an impressive 25 percent, reaching a staggering Rs 3.77 trillion by the end of February 2024, according to official data released on Thursday.
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Pakistan Witnesses $131 Million Rise in Weekly Forex Reserves
Karachi, March 14, 2024 – Pakistan has recorded a significant rise of $131 million in its weekly foreign exchange reserves for the week ending March 8, 2024, according to the State Bank of Pakistan (SBP).
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FPCCI Says SBP’s High-Interest Rate Stance Fails to Curb Inflation
Karachi, March 14, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) voiced apprehensions on Thursday regarding the State Bank of Pakistan’s (SBP) persistent adherence to high-interest rates despite escalating inflation rates.
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