Islamabad, February 2, 2024 – Pakistan’s import bill has experienced a substantial decline of 14.11 percent during the first seven months (July – January) of the fiscal year 2023-24, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday. This decline reflects a positive trend in the country’s trade balance.
(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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Provinces Collect Rs 230 Billion in Sales Tax in 1HFY24
Karachi, February 2, 2024 – The provinces of Pakistan have recorded an impressive collection of Rs 230 billion as sales tax on services during the first half (July – December) of fiscal year 2023-24, as per official data released by the federal finance ministry.
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SBP Slaps Meezan Bank with Rs 82.74 Million Regulatory Penalty
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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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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