Karachi, July 17, 2024 – Pakistan’s bank borrowing surged to an unprecedented Rs 8.56 trillion in the fiscal year 2023-24, marking a 130 percent increase over the previous fiscal year, according to official data.
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Find top stories in this section. Pakistan Revenue brings you the latest and most important news from Pakistan and around the world, keeping you informed with key updates and insights.
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Economic Risks Loom Large for Pakistan, Fitch Warns
Islamabad, July 17, 2024 – Fitch Ratings has raised alarm over the fragile economic state of Pakistan, citing significant risks stemming from both internal and external factors.
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Finance Act 2024: New FED Rates on Foreign Air Travel
Karachi, July 17, 2024 – The Federal Board of Revenue (FBR) has announced new Federal Excise Duty (FED) rates for international air travel, as amended through the Finance Act 2024. The revised rates have been in effect since July 1, 2024.
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FBR Notifies Salary Tax Rates Amended via Finance Act 2024
Karachi, July 17, 2024 – The Federal Board of Revenue (FBR) has officially announced the amended salary tax rates as enacted through the Finance Act, 2024. These revisions are set to take effect from July 1, 2024, and will be applicable for the tax year 2025.
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IMF Deal Offers Lifeline, But Reforms Key for Pakistan: Moody’s
Islamabad, July 16, 2024 – Pakistan’s economic outlook has received a cautious boost with the recent staff-level agreement reached with the International Monetary Fund (IMF) for a new $7 billion Extended Fund Facility (EFF). While this agreement offers a crucial source of financing, Moody’s Ratings Agency warns that Pakistan’s ability to sustain reforms will be the ultimate determinant of its success.
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FBR Says ATL 2023 Gets Over 5 Million Active Taxpayers
ISLAMABAD, July 16, 2024 (PkRevenue.com) – The Federal Board of Revenue (FBR) has announced a significant milestone, revealing that the number of active taxpayers for the tax year 2023 has surpassed 5 million.
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Bank Deposits of Private Sector Surge by 13.50% in FY24
Karachi, July 16, 2024 – The State Bank of Pakistan (SBP) has reported a significant surge of 13.50% in bank deposits from the private sector during the fiscal year 2023-24, marking a notable increase from the previous year.
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Pakistan Raises Petroleum Prices for 2nd Half of July 2024
Islamabad, July 16, 2024 – The citizens of Pakistan are facing another increase in fuel costs as the government announced higher prices for petroleum products, effective July 16th. This hike is in response to the recent surge in global oil prices.
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FBR Implements New Withholding Tax Regime for Motor Vehicles
Karachi, July 15, 2024 – The Federal Board of Revenue (FBR) has introduced a new withholding tax regime applicable to the purchase or registration of new motor vehicles, marking a significant shift from the previous tax structure.
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KSE-100 Index Welcomes IMF SLA with New High at 81,156 Points
Karachi, July 15, 2024 – The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) surged to a new record high of 81,156 points on Monday, buoyed by the announcement of a staff-level agreement (SLA) between Pakistan and the International Monetary Fund (IMF).
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