ISLAMABAD – The Finance Ministry of Pakistan has announced a significant rise in the collection of petroleum levies, which nearly doubled to Rs 720 billion in the first nine months of fiscal year 2023-24, up from Rs 362 billion in the corresponding period last year.
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Pakistan’s Trade Deficit Narrows by 17% in Ten Months of FY24
Islamabad, May 2, 2024 – Pakistan has witnessed a substantial narrowing of its trade deficit by 17 percent during the first ten months of the fiscal year 2024, according to the latest data released by the Pakistan Bureau of Statistics (PBS).
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Pakistan’s Fiscal Deficit Swells 27% to Rs 3.9 Trillion in 9MFY24
Karachi, May 2, 2024 – Pakistan’s fiscal landscape has shown significant volatility, as the nation’s fiscal deficit expanded by 27% year-on-year (YoY), reaching Rs 3.9 trillion in the first nine months of the fiscal year 2023-24, data from the Ministry of Finance revealed.
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Pakistan’s Headline Inflation Marks 23-Month Low in April 2024
Islamabad, May 2, 2024 – Pakistan’s headline inflation witnessed a significant reduction in April 2024, reaching a 23-month low of 17.34 percent. This marks a considerable decline from the 20.7 percent recorded in March 2024, and a sharp contrast to the 36.4 percent seen in April 2023.
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Pakistan Slashes Petrol and Diesel Prices Effective May 1, 2024
Islamabad, April 30, 2024 – In a welcome move for consumers, Pakistan has announced a decrease in the prices of petrol and diesel starting May 1, 2024.
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Pakistan’s Economy on Track for Robust Recovery: Report
Islamabad, April 30, 2024 – According to the Ministry of Finance’s Economic Update and Outlook for April, released this Tuesday, Pakistan’s national economy is set for a strong recovery, evidenced by encouraging macroeconomic indicators that signal sustained progress and development in the coming fiscal year.
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Pakistan Likely to Cut Petroleum Prices For 1st Half of May 2024
Islamabad, April 30, 2024 – Pakistan is poised to lower petroleum prices significantly for the first half of May 2024, reflecting a substantial decline in global oil prices.
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National Assembly Passes Money Bill to Amend Tax Laws
Islamabad, April 29, 2024 – The National Assembly of Pakistan took a significant step forward in tax reform by approving a new money bill aimed at amending existing tax laws, which promises to streamline the tax litigation process and strengthen tax compliance across the country.
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Pakistan Mulls Mandatory Tax Returns for Agricultural Income
In a move poised to overhaul the taxation system for agricultural income, Pakistan is strongly considering making it mandatory for earners of agricultural income to file their annual tax returns along with wealth statements.
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SBP Calls for Unpopular but Necessary Economic Measures
KARACHI: In a candid address during the Members Convocation of the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan), Jameel Ahmad, Governor of the State Bank of Pakistan (SBP), stressed the urgent need for unpopular yet necessary measures to bolster the nation’s economy.
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