Islamabad, April 26, 2024 – Prime Minister Shehbaz Sharif has denounced the track and trace system implemented for monitoring goods in several key industries as a complete fraud.
(more…)Category: Pakistan
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OECD Team Evaluates AEOI Safeguards in Pakistan
Islamabad, April 25, 2024 – A high-level assessment team from the Organization for Economic Cooperation and Development (OECD) Global Forum on Transparency and Exchange of Information for Tax Purposes concluded a significant two-day onsite visit to Pakistan, rigorously reviewing the country’s implementation of Automatic Exchange of Information (AEOI) protocols, particularly focusing on confidentiality and data safeguards.
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PBS Reports Notable Fall in Prices of Essential Commodities
ISLAMABAD, April 26, 2024 – The Pakistan Bureau of Statistics (PBS) has reported a notable reduction in the prices of several essential commodities for the week ending on April 25, 2024, offering some relief to consumers amidst ongoing economic challenges.
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Pakistan State Oil Reports 30% Profit Surge Over Nine Months
Pakistan State Oil (PSO), the nation’s leading fuel supplier, has reported a robust 30 percent year-on-year increase in after-tax profits for the first nine months of the fiscal year 2023-24, signaling strong financial health amidst challenging economic conditions.
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Pakistan’s Total Forex Reserves Dip to $13.28 Billion
Karachi, April 25, 2024 – Pakistan’s total foreign exchange reserves have experienced a notable decline, settling at $13.28 billion, as revealed by the latest figures from the State Bank of Pakistan (SBP).
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FPCCI Flags SRO 350 as Anti-Business, Claims to Halt Industry
Karachi, April 25, 2024 – The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has voiced significant concerns over the Federal Board of Revenue’s (FBR) recent regulatory changes, labeling the Statutory Regulatory Order (SRO) 350 as anti-business and a potential threat to the ongoing viability of trade and industry sectors across Pakistan.
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KSE-100 Index Soars to Record High, Hits 72,052 Points
Karachi, April 24, 2024 – The Pakistan Stock Exchange (PSX) witnessed a significant milestone on Wednesday as the KSE-100 index climbed to a new all-time high of 72,052 points, marking a robust day of trading that saw the index ascend by 692 points from the previous session’s close of 71,360 points.
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PM Shehbaz Sharif Suspends FBR Officials Over Tax Case Delays
Islamabad, April 23, 2024 – In a decisive move against bureaucratic inefficiency, Prime Minister Muhammad Shehbaz Sharif has ordered the suspension of the Commissioner of Inland Revenue of Federal Board of Revenue (FBR) Islamabad along with other senior tax officials for their alleged willful delay in handling tax cases.
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Foreign Direct Investment Drops 10% in July-March FY24
Karachi, April 22, 2024 – Pakistan has witnessed a notable decline in Foreign Direct Investment (FDI) during the first nine months of fiscal year 2023-24, with a 10 percent decrease compared to the same period last year, as reported by the State Bank of Pakistan (SBP).
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Pakistan and Iran Aim Bilateral Trade at $10 Billion Annually
Islamabad, April 22, 2024 – In a significant development aimed at bolstering economic ties between neighboring countries, Pakistan and Iran agreed on Monday to enhance bilateral trade and expand business activities in their border regions.
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