Karachi, December 18, 2024 – The Federal Board of Revenue (FBR) is poised to introduce a significant change in the banking sector with the potential imposition of a ban on cash withdrawals by individuals who are non-filers of income tax returns.
(more…)Category: Pakistan
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Pakistan Records 31.3% Increase in FDI During 5MFY25
Karachi: Pakistan has witnessed a significant 31.3% surge in foreign direct investment (FDI) during the first five months (July–November) of the fiscal year 2024-25, reflecting growing investor confidence in the country’s economic prospects.
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PM Shehbaz Welcomes Record Current Account Surplus
Islamabad, December 17, 2024 – Prime Minister Muhammad Shehbaz Sharif on Tuesday expressed his satisfaction over Pakistan achieving a record current account surplus in November 2024.
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Pakistan Posts $944 Million Current Account Surplus in 5MFY25
Karachi, December 17, 2024 – Pakistan has reported a significant current account surplus of $944 million for the first five months (July to November) of the fiscal year 2024-25, according to balance of payment data released by the State Bank of Pakistan (SBP) on Tuesday.
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SBP Warns of Inflation Risks from Potential Tax Measures
Karachi, December 17, 2024 – The State Bank of Pakistan (SBP) has expressed concerns over potential risks to the inflation outlook, particularly due to the possibility of additional tax measures. During a briefing following the latest decision by the Monetary Policy Committee (MPC), analysts at Insight Securities (Pvt) Ltd noted that the SBP Governor indicated a more optimistic outlook for FY25.
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SBP Slashes Benchmark Policy Rate by 200 Basis Points to 13%
Karachi, December 16, 2024 – The State Bank of Pakistan (SBP) announced a significant cut of 200 basis points in its benchmark policy rate, bringing it down from 15% to 13%.
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PayPal Payment Solution Discussed for Pakistan’s Freelancers
Islamabad, December 13, 2024 – A high-level meeting of the Prime Minister’s Committee on IT Export Remittances convened to address the pressing need for payment solutions, including PayPal, to support Pakistan’s freelancers. The meeting emphasized the urgency of enabling access to global payment gateways and developing localized payment systems to empower IT professionals and enhance Pakistan’s global competitiveness.
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PM Shehbaz Directs Further Reduction in Electricity Tariffs
Islamabad, December 13, 2024 – Prime Minister Muhammad Shehbaz Sharif has directed authorities to take further steps in reducing electricity tariffs and to fast-track the implementation of plans for future power generation projects.
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OGDCL Discovers Gas and Condensate in Khyber Pakhtunkhwa
Karachi, December 13, 2024 – Oil and Gas Development Company Limited (OGDCL) has made a significant breakthrough with the discovery of gas and condensate in the Khyber Pakhtunkhwa (KPK) province, a promising development for Pakistan’s energy sector.
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PM Shehbaz Constitutes Probe Team for Sales Tax Frauds
Islamabad, December 12, 2024 – Prime Minister Shehbaz Sharif has taken decisive action against sales tax fraud by forming a high-powered joint inquiry team to investigate and address this pressing issue.
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