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.
(more…)Author: Shahnawaz Akhter
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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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Three Customs Officials Dismissed Over Involvement in Mega Clearance Scam
Karachi, August 25, 2023 – In a significant development, the Federal Board of Revenue (FBR) has taken decisive action against corruption within its ranks by dismissing three customs officials for their involvement in a major clearance scam.
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Mari Petroleum Secures Exploration License in Chagai, Balochistan
Karachi, August 25, 2023 – Mari Petroleum Company Limited, a key player in Pakistan’s energy sector, announced on Friday that it has successfully acquired an exploration license from the Balochistan government.
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Pak Suzuki Motor Records Staggering Loss of Rs 9.67 Billion in First Half of 2023
Karachi, August 25, 2023 – In a stark reflection of the challenges plaguing the automotive industry in Pakistan, Pak Suzuki Motor Company Limited announced a colossal loss of Rs 9.67 billion for the first half of 2023.
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Free-fall in Rupee Continues, Reaching Fresh Low Against Dollar in Intraday Trading
Karachi, August 25, 2023 – The Pakistani Rupee (PKR) continued its downward spiral on Friday, making a fresh historic low against the US dollar.
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