Karachi, December 28, 2023 – In the first five months (July – November) of fiscal year 2023-24, foreign investors have withdrawn $532 million from Pakistan under the category of profit and dividends, according to data released by the State Bank of Pakistan (SBP).
(more…)Author: Shahnawaz Akhter
-
December 2023 Inflation Expected to Moderate at 28.4%
Karachi, December 28, 2023 – Analysts at Arif Habib Limited have projected that the headline inflation for December 2023 is likely to clock in at 28.4 percent, indicating a slight deceleration from the previous month’s figure.
(more…) -
Pakistan Notifies Dutiable Goods for Tax Year 2024
Karachi, December 28, 2023 – The Federal Board of Revenue (FBR), the apex tax agency of Pakistan, has officially released the dutiable goods list for the tax year 2024, providing clarity on customs duties at the time of imports.
(more…) -
FBR Outlines Conditions for Zero-Rate Sales Tax Facility in 2024
Karachi, December 28, 2023 – The Federal Board of Revenue (FBR) has laid out comprehensive conditions for businesses seeking to avail themselves of the zero-rated sales tax facility during the tax year 2024.
(more…) -
FBR Initiates Replacement of WeBOC with New Digital Customs
Karachi, December 27, 2023 – The Federal Board of Revenue (FBR) has embarked on a significant overhaul, initiating the replacement of the existing Web Based One Customs (WeBOC) with a state-of-the-art customs digital management system.
(more…) -
Pakistani Rupee Depreciates by 20% Against US Dollar in 2023
Karachi, December 27, 2023 – Financial analysts at Topline Securities Limited have characterized 2023 as a somber year for the Pakistani Rupee (PKR), which experienced a significant 20 percent depreciation against the US dollar.
(more…) -
SBP Issues Instructions to Banks for ITM Export Facilitation
Karachi, December 27, 2023 – The State Bank of Pakistan (SBP) has issued crucial instructions to banks regarding International Toll Manufacturing (ITM) under the Export Facilitation Scheme (EFS).
(more…) -
Pakistan Stock Market Witnesses Robust Recovery of 1,693 Points
Karachi, December 27, 2023 – The Pakistan stock market staged an impressive rebound on Wednesday, experiencing a sharp recovery of 1,693 points.
(more…) -
Salt Manufacturers Urge Government Support Amid Red Sea Crisis
Karachi, December 27, 2023 – The Salt Manufacturers Association of Pakistan (SMAP) issued a plea for government intervention on Wednesday, seeking support to address rising freight charges amidst the ongoing Red Sea crisis.
(more…) -
FBR Opens Tax Collection Window on Last 2023 Weekly Holidays
Karachi, December 27, 2023 – The Federal Board of Revenue (FBR) announced on Wednesday the opening of tax offices across the country on the last two weekly holidays of the year.
(more…)