Karachi, June 24, 2025 – The Pakistan Stock Exchange (PSX) witnessed a powerful rebound on Tuesday, surging 5.23% following the announcement of a ceasefire agreement between Iran and Israel.
(more…)Author: Shahnawaz Akhter
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FBR collects Rs53 billion through automatic closure of tax audits
Karachi, June 24, 2025 – The Federal Board of Revenue (FBR) has successfully recovered a substantial amount of Rs53 billion during the tax year 2024 through the automatic closure of income tax audits, under a special provision of the Income Tax Ordinance, 2001.
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Iran-Israel ceasefire: PSX hits upper circuits, triggers halt
Karachi, June 24, 2025 – The trading at Pakistan Stock Exchange (PSX) on Tuesday halted following breaching the upper cap of 5% at 11:26 AM.
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SBP publishes latest details of unclaimed bank deposits
KARACHI, June 24, 2025 — The State Bank of Pakistan (SBP) has officially released the details of unclaimed bank deposits surrendered by various banks and Development Financial Institutions (DFIs) up to December 31, 2023. In a public notice issued on Tuesday, the SBP informed the general public that these deposits had remained inactive for over ten years and are now available for refund claims.
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PSX surges nearly 5% following Iran-Israel ceasefire agreement
Karachi, June 24, 2025 — The Pakistan Stock Exchange (PSX) witnessed a remarkable rebound on Tuesday morning, rallying nearly 5% after global markets responded positively to the announcement of a ceasefire between Iran and Israel.
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Pakistan to import 500,000 tons of sugar after reckless export
Islamabad, June 23, 2025 – In a dramatic policy reversal that has sent shockwaves through economic and political circles, Pakistan has been forced to approve the import of 500,000 metric tons of sugar after allowing a massive outflow of the commodity earlier this fiscal year.
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FBR opens tax payment window on last Sunday to boost collection
Islamabad, June 23, 2025 – In a final push to maximize tax collection for the fiscal year 2024-25, the Federal Board of Revenue (FBR) has announced that all field offices will remain open on Sunday, June 29, 2025. This special measure is aimed at ensuring that every possible rupee is counted towards the FBR’s year-end collection goal.
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LTO Karachi assigned jurisdiction over OICCI for tax oversight
Karachi, June 23, 2025 – In a significant administrative development, the Federal Board of Revenue (FBR) has issued an official notification transferring the tax jurisdiction of the Overseas Investors Chamber of Commerce and Industry (OICCI) from the Corporate Tax Office (CTO) Karachi to Zone-I of the Large Taxpayers Office (LTO) Karachi.
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Banking deposits reach historic high of Rs32.72 trillion in Pakistan
Karachi, June 23, 2025 — Pakistan’s banking sector has reached a historic benchmark, with total deposits climbing to an all-time high of Rs32.72 trillion by the end of May 2025, as per the latest data released by the State Bank of Pakistan (SBP). This milestone reflects continued public trust in the banking system, even amid a challenging economic environment.
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PBC raises alarm over draconian powers proposed for FBR
Karachi, June 23, 2025 – The Pakistan Business Council (PBC) has strongly criticized the sweeping and excessive powers proposed to be granted to the Federal Board of Revenue (FBR) in the Finance Bill 2025, terming them “draconian” and detrimental to the investment climate in the country.
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