Karachi, November 29, 2024 – The Federal Board of Revenue (FBR) has announced an extension of tax exemptions for overseas Pakistanis involved in property transactions, reaffirming its commitment to facilitating expatriates.
(more…)Category: Pakistan
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PSX Celebrates First Closing Above 100K in Stunning Turnaround
Karachi, November 28, 2024 – The Pakistan Stock Exchange (PSX) achieved a historic milestone on Thursday as the benchmark KSE-100 Index soared past the 100,000-point mark for the first time. This remarkable achievement came in the wake of earlier market turbulence caused by violent protests in Islamabad.
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November Inflation Projected at 4.7%, Lowest Since April 2018
Inflation in Pakistan for November 2024 is projected to fall to 4.7% year-on-year (YoY), a significant drop from October’s 7.2%, according to analysts at Arif Habib Limited. This represents the lowest inflation rate since April 2018, when it stood at 3.96%.
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Foreign Investors Withdraw $807 Million from Pakistan in 4MFY25
Karachi, November 26, 2024 – Foreign investors operating in Pakistan repatriated over $807 million under the head of profit and dividends during the first four months (July–October) of the fiscal year 2024-25, according to official data released on Tuesday.
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PSX Records Largest Single-Day Decline Amid Political Crisis
Karachi, November 26, 2024 – The Pakistan Stock Exchange (PSX) witnessed its largest single-day drop on Tuesday, with the benchmark KSE-100 index plummeting by 3,506 points, or 3.57%, due to the escalating political crisis in the country.
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Political Unrest Sinks Pakistan Stocks by 2.5%
Karachi, November 26, 2024 – The Pakistan stocks plunged sharply by 2,450 points, or 2.50%, in the latest trading session on Tuesday, as political turmoil rattled investor confidence.
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OCAC Seeks Smooth Fuel Supply Amid PTI Protests
The Oil Companies Advisory Council (OCAC) has urged the Punjab and Federal Capital administrations to take immediate steps to facilitate the transport of petroleum products, warning of an impending fuel crisis due to ongoing disruptions caused by Pakistan Tehreek-i-Insaf (PTI) protests.
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PM Shehbaz Directs Action Plan to Boost IT Exports to $25B
Prime Minister Shehbaz Sharif has approved an action plan presented by the Ministry of Information Technology and Telecommunication to boost Pakistan’s IT exports to $25 billion over the next five years. During a review meeting on Friday, Shehbaz, who had previously set this ambitious target, praised the comprehensive action plan and emphasized the importance of its implementation.
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Army Chief Boosts Market, KSE-100 Reaches Historic Peak
Karachi, November 21, 2024 – The KSE-100 index of the Pakistan Stock Exchange (PSX) soared to an all-time high of 97,328 points on Thursday, reflecting a wave of optimism following the Army Chief’s meeting with leading business figures.
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CII Chairman Denies Statement on VPNs
Islamabad, November 20, 2024 – Council of Islamic Ideology (CII) Chairman Dr. Raghib Hussain Naeemi has categorically denied declaring virtual private networks (VPNs) “un-Islamic,” explaining that a “typo” in the council’s statement caused the confusion amid the government’s deadline to block all unregistered encrypted networks this month.
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