Islamabad, July 31, 2024 – In a move set to provide much-needed respite to citizens grappling with high electricity bills and taxes, Pakistan announced a significant reduction in petroleum prices for the first half of August 2024. This development comes as a response to the recent decline in global oil rates.
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Stricter Tax Regulations for Foreign Businesses in Pakistan
Karachi, July 31, 2024 – Pakistan has introduced stricter tax rules for non-residents with substantial business activities within the country. This initiative, driven by the Federal Board of Revenue (FBR), aims to capture a larger share of revenue from global entities benefiting from the Pakistani market.
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Pakistan’s Economy Shows Signs of Stability in FY24: Report
Islamabad, July 30, 2024 – The Pakistani economy is showing signs of stability as the fiscal year 2023-24 comes to a close, with declining inflation, a primary fiscal account surplus, a minimal current account deficit, and a stable exchange rate, according to the Finance Ministry’s report released on Tuesday.
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Visa Reforms to Promote Tourism in Pakistan: PM Shehbaz
Islamabad, July 29, 2024 – Prime Minister Muhammad Shehbaz Sharif announced on Sunday that the government has introduced significant visa reforms aimed at facilitating foreign investors, business communities, and tourists.
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Sensitive Price Inflation in Pakistan Surges 20% YoY
Islamabad, July 26, 2024 – The Sensitive Price Indicator (SPI) inflation on a Year on Year (YoY) basis has surged by 20.09% for the week ending July 25, 2024, according to the latest data released by the Pakistan Bureau of Statistics (PBS) on Friday.
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SBP Reserves Plummet by $397 Million Amid Debt Repayments
Karachi, July 25, 2024 – The State Bank of Pakistan (SBP) announced on Thursday a significant drop of $397 million in its official foreign exchange reserves for the week ending July 19, 2024. The reserves declined from $9.424 billion on July 12, 2024, to $9.027 billion by the end of the week.
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PM Shehbaz Sets Ambitious $60 Billion Export Target for Pakistan
Karachi, July 23, 2024 – Prime Minister Shehbaz Sharif chaired a pivotal meeting of the National Export Development Board on Tuesday, tasking authorities with a bold directive: elevate the country’s annual exports to $60 billion within the next three years.
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Pakistan Reverses Passports Policy for Asylum Seekers Abroad
Islamabad, July 22, 2024 – Deputy Prime Minister and Foreign Minister Ishaq Dar chaired a high-level meeting on Monday to discuss the welfare of overseas Pakistanis, deciding to reverse the recent policy suspending the issuance of passports to Pakistani nationals seeking asylum abroad.
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Pakistan Spends Rs 535 Billion on Mobile Phone Imports in FY24
Karachi, July 21, 2024 – Pakistan has recorded an unprecedented expenditure of Rs 535 billion on the import of mobile phones during the fiscal year 2023-24, as reported by the Pakistan Bureau of Statistics (PBS). This marks a substantial 291 percent increase from the Rs 137 billion spent in the preceding fiscal year.
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PM Shehbaz Orders Speedy Implementation of Chinese Pacts
Islamabad, July 20, 2024 – Prime Minister Muhammad Shehbaz Sharif on Saturday directed the concerned authorities to expedite the implementation of agreements and Memorandums of Understanding (MoUs) made with the Chinese government and companies. He emphasized that any delay in executing these agreements would not be tolerated.
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