Jun 23

State Bank’s reserves dip to 32-month low at $8.238 billion

KARACHI: The official foreign exchange reserves of State Bank of Pakistan (SBP) have decreased around 32-month low at $8.238 billion by week ended June 17, 2022, official data revealed on Thursday. The official reserves of the central bank fell by $747 million to $8.238 billion by week ended June 17, 2022 as compared with $8.985 […]

by Hamza Shah

Pakistan decides 10% regulatory duty on petrol import

Jun 19

Budget 2022-2023, Finance, Pakistan Customs, Top stories

Pakistan decides 10% regulatory duty on petrol import

KARACHI: Pakistan has decided to impose regulatory duty at 10 per cent from July 01, 2022. The country presented its federal budget 2022/2023 on June 10, 2022 and proposed increase on regulatory duty on various imported goods. READ MORE: Penalty amount revised for late filing income tax returns The Finance Bill, 2022 suggested levying 10 […]

by Hamza Shah

Prices of essential items surge by 28% in Pakistan

Jun 18

Finance, National, Top stories

Prices of essential items surge by 28% in Pakistan

ISLAMABAD: The prices of essential items have recorded 28 per cent increase Year on Year (YoY) by week ended June 16, 2022, Pakistan Bureau of Statistics (PBS) said on Friday. The surge in prices have been seen following the massive increase in prices of petroleum products by the government during last three rounds: first on […]

by Anjum Shah

Pakistan to stay on FATF grey list till onsite visit

Jun 17

Finance, Top stories

Pakistan to stay on FATF grey list till onsite visit

BERLIN: Pakistan will stay on the grey list despite making compliance to all the action plans set by the Financial Action Task Force (FATF). An onsite visit to Pakistan is required to verify the implementation of the country, a statement issued on Friday by the watchdog said. However, Pakistan has not been officially removed from […]

by Anjum Shah

Foreign Investment into Pakistan plunges by 59% during 11MFY22

Jun 17

Finance, Top stories

Foreign Investment into Pakistan plunges by 59% during 11MFY22

KARACHI: Total foreign investment into Pakistan has declined by 59 per cent to $1.59 billion during first 11 months (July – May) of fiscal year 2021/2022, according to data released by the State Bank of Pakistan (SBP) on Friday. The inflows of foreign investment into the country were $3.85 billion during the corresponding period of […]

by Faisal Shah

Pakistan’s central bank reserves shrink to one month import cover

Jun 17

Finance, Top stories

Pakistan’s central bank reserves shrink to one month import cover

KARACHI: The official reserves of Pakistan’s central bank have declined to provide about one month import cover, according to official data released on Thursday. The official foreign exchange reserves of the State Bank of Pakistan (SBP) fell by $241 million to $8.985 billion by week ended June 10, 2022 as compared with $9.226 billion a […]

by Faisal Shah

Punjab presents Rs3.226 trillion budget 2022/2023

Jun 15

Budget 2022-2023, Finance, Top stories

Punjab presents Rs3.226 trillion budget 2022/2023

LAHORE: Punjab government on Wednesday presented its budget 2022/2023 with an outlay of Rs3.226 trillion. Presenting the budget, Finance Minister, Sardar Owais Ahmad Khan Leghari said the total volume of the budget is 22 percent more than current fiscal year, out of which Rs1.712 billion have been allocated for Current Expenditures. He said that total […]

by Anjum Shah

Indonesia resumes palm oil shipment to Pakistan

Jun 15

Finance, Top stories

Indonesia resumes palm oil shipment to Pakistan

ISLAMABAD: Indonesia has started palm oil shipment to Pakistan after promulgation of new export regulation, a statement said on Tuesday. On the request of Pakistan, Indonesian minister assured that after completing the necessary formalities, the first shipment of palm oil to Pakistan was expected to sail within 24 hours. The minister further stated that he […]

by Anjum Shah

Sindh announces tax relief measures in budget 2022-2023

Jun 14

Budget 2022-2023, Finance, Taxation

Sindh announces tax relief measures in budget 2022-2023

KARACHI: The province of Sindh has announced sales tax relief measures in the budget 2022-2023 presented in the provincial assembly on Tuesday. Sindh Chief Minister Syed Murad Ali Shah announced a number of measures to facilitate taxpayers in payment of sales tax on services. READ MORE: Sindh increases salary by 15% from July 1, 2022 […]

by Hamza Shah

Sindh increases salary by 15% from July 1, 2022

Jun 14

Budget 2022-2023, Finance, National

Sindh increases salary by 15% from July 1, 2022

KARACHI: The Sindh government on Tuesday announced a 15 per cent raise in salary of provincial government employees and 5 per cent increase in pension effective from July 01, 2022. Sindh Chief Minister Syed Murad Ali Shah announced raise in pay and pension while presenting the provincial budget 2022-2023. READ MORE: Sindh unveils Rs1.714 trillion […]

by Hamza Shah