Islamabad, July 13, 2024 – Prime Minister Muhammad Shehbaz Sharif on Saturday directed the Federal Board of Revenue (FBR) authorities to tighten their belts and serve the nation by formulating a strategy and mechanism, coupled with the usage of the latest technology, to broaden the tax net without further burdening the honest taxpayers.
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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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PM Shehbaz Expresses Satisfaction Over Clinching IMF Loan
Islamabad, July 13, 2024 – Prime Minister Muhammad Shehbaz Sharif expressed deep satisfaction on Saturday following Pakistan’s successful negotiation of a staff-level agreement with the International Monetary Fund (IMF) for a new $7 billion loan program. The agreement, spanning over 37 months, is poised to bolster Pakistan’s economy amidst ongoing financial challenges.
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Pakistan Stocks Expected to Rise Next Week Following IMF SLA
Karachi, July 13, 2024 – Pakistan stock market is anticipated to see a positive response in the upcoming week following the announcement of a staff-level agreement (SLA) between Pakistan and the International Monetary Fund (IMF) for a $7 billion Extended Fund Facility (EFF).
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IMF, Pakistan Reach Staff-Level Agreement on $7 Billion EFF
Islamabad, July 13, 2024 – The International Monetary Fund (IMF) and Pakistan have announced a staff-level agreement for a $7 billion Extended Fund Facility (EFF). However, the disbursement of these funds awaits approval from the IMF’s executive board.
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FBR Directs BS-21 Officers to Submit Asset Declaration
Islamabad, July 12, 2024 – The Federal Board of Revenue (FBR) has directed all BS-21 officers to submit their asset declarations and performance evaluation reports (PERs). This directive applies to officers in the Inland Revenue Service (IRS) and Pakistan Customs Service (PCS).
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OCAC Demands End to Tax Exemption on Petroleum Products
Karachi, July 12, 2024 – The Oil Companies Advisory Council (OCAC) has thrown a wrench into the government’s recent tax plan, urging the removal of the sales tax exemption on petroleum products.
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Gold Extends Rally in Pakistan to Reach Rs 249,000
Karachi, July 12, 2024 – The price of gold in Pakistan continued its upward trend for the third consecutive day, reaching Rs 249,000 per tola (11.66 grams) in local markets on Friday. This represents an increase of Rs 2,200 from the previous day’s closing price of Rs 246,800. Overall, gold prices have risen by Rs 4,000 in the past three trading sessions.
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Pakistan, Azerbaijan Aim for $2 Billion Investment Boost
Pakistan and Azerbaijan pledged to significantly strengthen their economic ties, aiming for a combined investment of US$2 billion in mutually beneficial projects. This ambitious target was announced by Pakistani Prime Minister Muhammad Shehbaz Sharif during a joint press conference with Azerbaijani President Ilham Aliyev on Thursday.
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Aurangzeb Anticipates IMF EFF Size Decision Within a Week
Islamabad: Finance Minister Muhammad Aurangzeb has announced that the size of the new International Monetary Fund (IMF) Extended Fund Facility (EFF) for Pakistan will be determined within a week.
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FBR to Unveil Fixed Tax Rates for Traders and Retailers
Islamabad: The Federal Board of Revenue (FBR) is set to announce a new, simplified tax system tailored for traders, shopkeepers, and retailers in 42 Pakistani cities. This initiative aims to replace the existing complex square-footage based tax system with a more straightforward flat tax rate determined by shop location and category.
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