Karachi, August 28, 2023 – In a concerning development for Pakistan’s economy, the US dollar soared to a historic high of PKR 302 at the close of the interbank foreign exchange market on Monday, August 28.
(more…)Author: Shahnawaz Akhter
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Pakistani Rupee Hits New Intraday Low at PKR 301.75 Against Dollar
Karachi, August 28, 2023 – The Pakistani Rupee (PKR) experienced a new intraday low against the US dollar on Monday, reaching PKR 301.75 during trading.
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UNISAME Urges Revision of Solar Panel Import Policy to Support SMEs
Karachi, August 28, 2023 – The Union of Small and Medium Enterprises (UNISAME) has called upon authorities to review the import policy for solar panels in order to streamline the process and facilitate small and medium-sized enterprise (SME) importers.
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FBR Updates Depreciation Rates Under Income Tax Ordinance for Tax Year 2023-24
Islamabad, August 28, 2023 – In a move aimed at providing clarity and consistency in tax calculations for businesses across Pakistan, the Federal Board of Revenue (FBR) has announced updated depreciation rates under the Income Tax Ordinance, 2001, for the tax year 2023-24.
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CBU Motor Vehicle Imports Surge by 51% in Dollar-Scarce Pakistan
Karachi, August 27, 2023 – Pakistan finds itself grappling with a severe scarcity of US dollars for its foreign obligations, but an unexpected development has emerged amidst these economic challenges. In July 2023, the import of Completely Built Unit (CBU) motor vehicles witnessed a remarkable surge of 51%, defying economic odds.
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Rupee Expected to Continue Slide Against Dollar in Week Starting August 28
The Pakistani rupee is poised to maintain its downward trajectory against the US dollar in the week commencing on August 28, 2023.
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FBR Surprises Key IRS Officers with Reshuffle on Sunday
Karachi, August 27, 2023 – In a surprising move, the Federal Board of Revenue (FBR) announced a major reshuffle of officers within the Inland Revenue Service (IRS) on Sunday, August 27, 2023.
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Inevitable Petroleum Price Hike Looms for Pakistan in Early September 2023
Karachi, August 26, 2023 – Pakistan is on the brink of implementing a second round of price increases for petroleum products in the first half of September 2023.
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FBR Takes Faysal Bank to High Court Over Tax Dispute
Karachi, August 25, 2023 – The Federal Board of Revenue (FBR) has taken legal action against Faysal Bank Limited concerning a tax dispute related to the taxability of gains on a bargain purchase.
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Karachi Industries Threaten Shutdown Over Electricity Tariff Hike
KARACHI, August 25, 2023 – The industrial heart of Karachi is bracing for turmoil as local industries, particularly in the North Karachi Industrial Area, voice their strong opposition to a recent significant hike in electricity tariffs.
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