Karachi, April 3, 2024 – The Federal Board of Revenue (FBR) has instituted a penalty of Rs 10,000 for shopkeepers and traders who fail to comply with income tax registration requirements, as part of its concerted efforts to bring the large undocumented retail sector into the tax net.
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PRL and Air Link Withdraw Intention to Acquire Shell Pakistan
Karachi, April 3, 2024 – Pakistan Refinery Limited (PRL) and Air Link Communication have jointly announced their decision to withdraw their intention to acquire Shell Pakistan, citing failed negotiations with the seller.
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Government Bank Borrowing Reaches Record Rs 4.69 Trillion
Karachi, April 2, 2024 – Official data released on Tuesday revealed a startling surge in government bank borrowing for budgetary support, reaching a staggering Rs 4.69 trillion during the period spanning from July 1, 2023, to March 22, 2024.
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PM Shehbaz Directs Increasing Exports Two-fold in 5 Years
Islamabad, April 2, 2024 – Prime Minister Muhammad Shehbaz Sharif has directed the formulation of a strategy aimed at doubling the country’s exports within the next five years.
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NDP Cigarettes to Cost Rs 300 Billion in FY24: PTC Chairman
Karachi, April 2, 2024 – Zafar Mahmood, Chairman of the Pakistan Tobacco Company (PTC), has projected a significant loss of Rs 300 billion in tax revenue due to the prevalence of non-duty paid (NDP) cigarettes during the current fiscal year 2023-24.
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Pakistan’s Trade Deficit Widens 56% YoY in March 2024
Islamabad, April 1, 2024 – Official data released on Monday revealed that Pakistan’s trade deficit widened significantly by 56.30 percent on a year-on-year basis in March 2024, highlighting ongoing challenges in the country’s trade balance.
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Pakistan’s Headline Inflation Rises by 20.7% YoY in March 2024
Islamabad, April 1, 2024 – Official data released on Monday revealed that Pakistan’s headline inflation surged by 20.7 percent year on year (YoY) in March 2024, reflecting ongoing challenges in the country’s economic landscape.
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Pakistan Surprises Nation with Rs 9.66 per Liter Petrol Increase
Islamabad, March 31, 2024 – Pakistan has announced a significant increase of Rs 9.66 per liter in the price of petrol, effective from April 1, 2024.
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Indus River System Releases 127,000 Cusecs Water
The Indus River System Authority (IRSA) has announced the release of 127,000 cusecs of water from various rim stations, accompanied by an inflow of 156,200 cusecs.
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FBR Sets Deadline for Shopkeepers and Traders Tax Registration
In a move aimed at expanding the tax base and formalizing the informal economy, the Federal Board of Revenue (FBR) has announced a one-month deadline for the tax registration of shopkeepers and traders.
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