February 11, 2024 – In the aftermath of Pakistan’s General Elections on February 8, 2024, analysts at Arif Habib Limited are highlighting the formidable challenges facing the new government, particularly in negotiating a new loan program with the International Monetary Fund (IMF) and formulating the budget for the fiscal year 2024-25.
(more…)Category: Top stories
Top stories featuring the most important and trending news updates from politics, business, world affairs, and breaking events across various sectors.
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Pakistan Imposes Rs 136 Million Penalty on Bank Alfalah
Karachi, February 11, 2024 – In a significant development, the State Bank of Pakistan (SBP) has imposed a monetary penalty of Rs 136 million on Bank Alfalah for various regulatory violations during the calendar year 2023, according to official documents.
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Post-Election Uncertainty May Impact Exchange Rate Stability
Karachi, February 11, 2024 – Analysts foresee potential challenges to exchange rate stability in the coming week, starting February 12, 2024, as a result of post-election political uncertainty in Pakistan.
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Sindh Tax Collection from Food and Hospitality Grows 41%
Karachi, February 10, 2024 – Sindh has reported a remarkable 41 percent surge in sales tax collection from the food and hospitality sector during the fiscal year 2022-23, according to the annual report released by the Sindh Revenue Board (SRB).
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Pakistan Faces $165 Million Drop in Weekly Forex Reserves
Karachi, February 9, 2024 – Pakistan’s economic landscape is under scrutiny as the State Bank of Pakistan (SBP) revealed a significant decline of $165 million in the country’s foreign exchange reserves for the week ended February 2, 2024.
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Banking Services Sales Tax Records Robust 17% Growth in FY23
Karachi, February 9, 2024 – The sales tax collection on banking services in Pakistan saw a remarkable growth of over 17 percent during the fiscal year 2022-23, as indicated by a report released by the Sindh Revenue Board (SRB) on Friday.
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Port Services Sales Tax Dominates SRB Collections in FY23
Karachi, February 9, 2024 – The Sindh Revenue Board (SRB) has reported a noteworthy milestone in its fiscal year 2022-23 collections, with sales tax from port services emerging as the leading contributor, totaling Rs. 23.58 billion.
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Customs Seeks Powers to Tackle Imports under Baggage Rules
Karachi, February 9, 2024 – In a bid to curb the misuse of the Baggage Rules, Pakistan Customs is actively seeking enhanced powers to confiscate goods imported in commercial quantities.
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FTO Orders Probe into Tax Data Breach
Islamabad, February 7, 2024 – The Federal Tax Ombudsman (FTO) has directed an immediate investigation into a case of unauthorized access to tax data, revealing a concerning breach in the system.
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Pakistan Allocates Rs 10 Billion to Bolster Cybersecurity Defenses
Islamabad, February 7, 2024 – In a strategic move to fortify its cybersecurity defenses, Pakistan has greenlit a substantial allocation of Rs 10 billion.
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