Karachi, October 4, 2024 – Pakistan equities soared to a historic high on Friday as the KSE-100 index surged to an unprecedented 83,532 points. This significant milestone was fueled by renewed investor confidence following a sharp decline in yields in the secondary market, particularly in government-issued Treasury Bills (T-Bills) and Pakistan Investment Bonds (PIBs).
(more…)Category: Top stories
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.
-
FBR Implements Stringent Measures to Enforce Tax Return Filing
Karachi, October 4, 2024 – The Federal Board of Revenue (FBR) has announced stringent measures aimed at ensuring compliance with tax return filings for the fiscal year 2024-25. This decisive action follows the provisions outlined in the Income Tax Ordinance, 2001, which has been updated as of June 30, 2024, empowering the FBR to impose penalties and enforce compliance among taxpayers.
(more…) -
MD OGDCL Unveils 12% Revenue Growth and Key Discoveries
Karachi, October 4, 2024 — Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production (E&P) company, has announced a 12% annual increase in sales revenue for the fiscal year 2023-24, according to CEO and Managing Director Ahmed Hayat Lak.
(more…) -
Unclear Tax Liability Becomes Major Obstacle in PIA Privatization
ISLAMABAD: The privatization of Pakistan International Airlines (PIA) has encountered a significant setback as unresolved tax liabilities and labor issues have deterred pre-bidding parties from moving forward.
(more…) -
Pakistan, Malaysia Vow to Strengthen Bilateral Ties in Key Sectors
Islamabad, October 3, 2024 – Pakistan and Malaysia reaffirmed their commitment to further bolster bilateral cooperation in key sectors including trade, economy, banking, food technology, and agriculture. This pledge was made during a high-profile meeting between President Asif Ali Zardari and the visiting Malaysian Prime Minister Dato’ Seri Anwar Ibrahim at Aiwan-e-Sadr. The meeting, attended by senior Pakistani officials and ministers, focused on fortifying strategic partnerships between the two nations.
(more…) -
Pakistan’s Forex Reserves Hit $16 Billion Amid IMF Support
Karachi, October 3, 2024 — Pakistan’s foreign exchange reserves have surged to nearly $16 billion, marking a significant increase after receiving inflows from the International Monetary Fund (IMF), the State Bank of Pakistan (SBP) announced on Thursday.
(more…) -
FBR Delegates Powers of Customs Officers to Frontier Corps Balochistan
Islamabad, October 3, 2024 – In a decisive move to combat smuggling across Pakistan’s western borders, the Federal Board of Revenue (FBR) on Thursday delegated key customs powers to the Frontier Corps (FC) Balochistan. This measure aims to curb the illicit trade and smuggling activities rampant in the province’s border regions.
(more…) -
Pakistan Stock Market Hits All-Time High at 82,722 Points
Karachi, October 3, 2024 – In a historic performance, the Pakistan Stock Exchange (PSX) soared to an all-time high on Thursday, with the benchmark KSE-100 index reaching 82,722 points. The remarkable surge of 755 points from the previous day’s close of 81,967 points highlights the buoyant sentiment that dominated the market, as investors capitalized on improved market conditions and positive corporate earnings.
(more…) -
Prize Bonds Redemption Deadline Extended to December 31, 2024
Karachi, October 2, 2024 – In a significant move aimed at providing relief to prize bondholders, the Government of Pakistan has extended the deadline for the encashment, replacement, and conversion of bearer prize bonds to December 31, 2024. This extension follows the initial expiration date of June 30, 2024, as announced earlier by the State Bank of Pakistan (SBP).
(more…) -
Pakistan Achieves Over 14% Export Growth in First Quarter of FY25
Islamabad, October 2, 2024 – Pakistan has reported an impressive 14.11% growth in exports during the first quarter of the fiscal year 2024-25 (1QFY25), a significant indicator of the country’s economic resilience. According to data released by the Pakistan Bureau of Statistics (PBS), exports soared to $7.88 billion between July and September 2024, compared to $6.90 billion in the same period last fiscal year.
(more…)