Karachi, July 20, 2023 – Pakistani banks are exposed to sovereign risk due to the escalating levels of government debt, warned a report issued by the International Monetary Fund (IMF).
(more…)Author: Shahnawaz Akhter
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SBP Commits Not to Launch New Refinancing Schemes, IMF Country Report States
Karachi, July 20, 2023 – The State Bank of Pakistan (SBP) has made a commitment not to introduce new refinancing schemes, according to the latest country report on Pakistan issued by the International Monetary Fund (IMF).
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Market Divided on SBP’s Upcoming Monetary Policy Meeting
Karachi, July 20, 2023: Market participants are divided over the State Bank of Pakistan’s (SBP) decision on whether to raise the benchmark policy rate further in the upcoming monetary policy meeting.
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Pakistan Plans New Trading Platform for Spot Transactions
Karachi, July 19, 2023 – Pakistan is set to establish a new trading platform for spot exchange rate transactions, as part of its commitment to the International Monetary Fund (IMF).
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FBR Obliged to Share Large Taxpayers’ Data with IMF
Karachi, July 19, 2023 – The Federal Board of Revenue (FBR) in Pakistan is mandated to share data on the total number of large taxpayers in the country with the International Monetary Fund (IMF).
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Foreign Direct Investment Plunges by 25% in Pakistan During FY23
Karachi, July 18, 2023 – Pakistan has experienced a significant decline of 25% in Foreign Direct Investment (FDI) during the fiscal year 2022-23, as revealed by data released by the State Bank of Pakistan (SBP) on Tuesday.
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Pakistan’s Current Account Deficit Narrows Sharply by 85% to $2.56 Billion
Karachi, July 18, 2023 – Pakistan has made significant progress in reducing its current account deficit, which stood at $2.56 billion for the fiscal year 2022-23. This represents a substantial 85% decrease compared to the previous fiscal year.
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FBR Plans New Indemnity Bond to Facilitate Exporters
ISLAMABAD: The Federal Board of Revenue (FBR) has unveiled a new indemnity bond for exporters, allowing them to sell or transfer plant machinery, equipment, and apparatus from one Export Facilitation Scheme (EFS) user to another.
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Pakistan’s Salaried Class Witnesses Surge in Bank Deposits, Totaling Rs3.45 Trillion
Karachi, July 17, 2023 – Pakistan’s salaried class has shown remarkable financial prudence, depositing a staggering Rs3.45 trillion in banks by the end of June 2023. This surge in deposits is primarily attributed to the country’s highest rate of return on investments.
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Pakistan ATL Surges to 4.15 Million Following Cash Withdrawal Conditions Implementation
Islamabad, July 17, 2023 – The Pakistan Active Taxpayers List (ATL) has experienced a substantial growth, reaching a record high of 4.15 million individuals, after the introduction of cash withdrawal conditions on July 1, 2023. The Federal Board of Revenue (FBR) recently released an updated ATL for the tax year 2022, based on returns filed until July 16, 2023.
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