Karachi, March 9, 2024 – The prices of essential items in Pakistan have experienced a notable surge, raising concerns among the public as the holy month of Ramadan approaches, according to official statistics released by the Pakistan Bureau of Statistics (PBS).
(more…)Category: Pakistan
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SBP Declares Bank Holiday on 1st Ramadan for Zakat Deduction
Karachi, March 8, 2024 – The State Bank of Pakistan (SBP) announced on Friday that it will observe a bank holiday on the 1st day of Ramadan-ul-Mubarak, 1445 A.H., for the purpose of the annual Zakat deduction.
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FBR Issues SRO to Implement 25% Sales Tax on Motor Vehicles
Islamabad, March 8, 2024 – In a move to generate revenue and discourage the use of non-essential and luxury items, the Federal Board of Revenue (FBR) in Pakistan has notified a 25 percent sales tax on motor vehicles.
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Workers’ Remittances into Pakistan Grow 13% in February 2024
Karachi, March 8, 2024 – The State Bank of Pakistan (SBP) reported a substantial 13 percent Year-on-Year (YoY) growth in workers’ remittances to Pakistan in February 2024.
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SBP Witnesses $54 Million Decline in Weekly Forex Reserves
Karachi, March 7, 2024 – The State Bank of Pakistan (SBP) announced a notable decrease of $54 million in its weekly foreign exchange reserves, according to an official statement released on Thursday.
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Pakistan Announces Nisab of Zakat for Ramadan 2024
Karachi, March 7, 2024 – In preparation for the upcoming holy month of Ramadan 2024, Pakistan has officially notified the Nisab of Zakat, outlining the criteria for the deduction of Zakat from bank accounts on the first day of the sacred month.
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NBP’s Tax Contingencies Surge to Rs 34.73 Billion in CY23
Karachi, March 7, 2024 – The National Bank of Pakistan (NBP) is grappling with a substantial increase in tax contingencies, soaring to an astonishing Rs 34.73 billion by the close of the calendar year 2023.
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Pakistan Takes Bold Action Against Stock Market Manipulation
Islamabad, March 7, 2024 – In a resolute and far-reaching move, Pakistan has unleashed a barrage of stringent measures against individuals allegedly involved in manipulating the stock market.
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PIA Privatization Final Schedule Ordered by PM Shehbaz Sharif
Islamabad, March 6, 2024 – In a significant development, Prime Minister Shehbaz Sharif has called for the swift implementation of the final schedule for the privatization of Pakistan International Airlines (PIA).
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SBP Auctions Rs 527 Billion T-Bills with Strong Bank Participation
Karachi, March 6, 2024 – The State Bank of Pakistan (SBP) achieved a significant milestone on Wednesday by successfully selling market treasury bills worth Rs 527 billion in an auction, surpassing the initial target of Rs 225 billion.
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