Karachi, February 2, 2024 – The State Bank of Pakistan (SBP) has imposed a regulatory penalty of Rs 82.74 million on Meezan Bank Limited, citing violations of regulatory instructions for the quarters ended June 2023 and December 2023.
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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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FBR Launches Single Sales Tax Return for Telecom Sector
Islamabad, February 1, 2024 – In a groundbreaking move towards enhancing efficiency and reducing compliance costs, the Federal Board of Revenue (FBR) has officially launched a single sales tax return for the telecom sector, encompassing entities registered with both federal and provincial tax authorities.
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Headline Inflation in Pakistan Surges to 28.3% in January 2024
The headline inflation based on Consumer Price Index (CPI) increased by 28.3 percent year on year (YoY) basis in January 2024, Pakistan Bureau of Statistics (PBS) revealed on Thursday.
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FBR Reshuffles 45 Customs Officers Ahead of General Elections
Karachi, February 1, 2024 – In a significant move, the Federal Board of Revenue (FBR) has executed a major reshuffle by notifying the transfers and postings of 45 customs officers in the ranks of BS-18 to BS-21.
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Pakistan Raises Petroleum Prices Ahead of Feb 8 Elections
Islamabad, January 31, 2024 – In a move that could have political repercussions, Pakistan has announced an increase in petroleum prices just days before the general elections scheduled for February 8, 2024.
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FBR Collects Rs 5.15 Trillion, Surpasses 7MFY24 Collection Target
Karachi, January 31, 2024 – The Federal Board of Revenue (FBR) has exceeded expectations by collecting a staggering Rs 5.15 trillion in the first seven months (July – January) of the fiscal year 2023-24, surpassing the assigned target of Rs 5,115 billion.
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SBP Slaps Rs 140.69M Regulatory Penalty on United Bank Limited
Karachi, January 31, 2024 – The State Bank of Pakistan (SBP) has taken stern action against United Bank Limited (UBL), imposing a regulatory penalty amounting to Rs 140.69 million for alleged violations of regulatory instructions throughout the calendar year 2023.
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Petroleum Levy Collection Skyrockets by 166% in 1HFY24
Karachi, January 31, 2024 – The collection of petroleum levy in Pakistan has experienced an unprecedented surge, witnessing a remarkable increase of 166 percent during the first half (July – December) of the current fiscal year, as reported by data released by the Ministry of Finance.
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SBP Announces 100% Advance Import Payment Approval
Karachi, January 30, 2024 – In a significant move aimed at facilitating trade and commerce, the State Bank of Pakistan (SBP) has granted approval for 100 percent advance payment for imports.
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Foreign Selling Continues: KSE-100 Index Plunges by 932 Points
Karachi, January 30, 2024 – The Pakistan Stock Exchange (PSX) faced a significant setback today as the benchmark KSE-100 index plummeted by 932 points amid persistent foreign selling, marking a second consecutive day of substantial declines.
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