Pakistan is poised to deregulate petroleum prices in response to concerns raised by the oil industry regarding the influx of smuggled oil products and the escalating fuel prices, according to recent reports.
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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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Pakistan Sees 28.54% Surge in Inflation of Essential Items
Islamabad, April 19, 2024 – Pakistan has experienced a significant surge of 28.54 percent in the inflation of essential items on a year-on-year (YoY) basis, according to official data released by the Pakistan Bureau of Statistics (PBS) on Friday.
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Finance Minister Rules Out Rupee Devaluation Ahead of IMF Talks
Finance Minister of Pakistan, Muhammad Aurangzeb, has unequivocally ruled out any substantial rupee devaluation in anticipation of forthcoming discussions with the International Monetary Fund (IMF).
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Pakistan Anticipates New IMF Loan Deal by June-end
Pakistan is poised to secure a new loan deal with the International Monetary Fund (IMF) by the end of June or early July, according to the country’s Finance Minister for Finance and Revenue, Muhammad Aurangzeb.
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Bank Deposits in Pakistan Cross Rs28 Trillion, Making New High
Karachi, April 18, 2024 – In a historic milestone for Pakistan’s financial landscape, bank deposits have soared to unprecedented levels, surpassing the Rs 28 trillion mark for the first time in history.
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Pakistan Experiences 37% Drop in Car Sales During 9MFY24
Pakistan has encountered a substantial 37 percent decrease in domestic car sales during the initial nine months of the fiscal year 2023-24, according to official data disclosed on Wednesday.
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SBP Slaps Banks with Rs 776 Million Penalty in 1Q of 2024
Karachi, April 17, 2024 – The State Bank of Pakistan (SBP) has wielded its regulatory authority, imposing a hefty penalty of Rs 776 million on several banks and an exchange company for breaching regulations during the first quarter of 2024, which ended on March 31.
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Gold Rates Make Fresh High at Rs 251,900 in Pakistan
Karachi, April 17, 2024 – Gold rates in Pakistan soared to a new record high on Wednesday, reaching Rs 251,900 per tola, marking a substantial gain of Rs 2,200. This surge in rates comes on the heels of a remarkable upward trend in global gold markets.
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United Bank Reports 11.54% Profit Growth in First Quarter of 2024
Karachi, April 17, 2024 – United Bank Limited (UBL) announced an 11.54 percent increase in profit after tax for the first quarter ending March 31, 2024, according to consolidated financial results submitted to the Pakistan Stock Exchange (PSX) on Wednesday.
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World Bank Pledges Support for Pakistan’s Digitalization Efforts
The World Bank (WB) has reaffirmed its commitment to supporting Pakistan’s economic stabilization and revenue enhancement through comprehensive reforms and digitalization programs.
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