Karachi, December 1, 2023 – The State Bank of Pakistan (SBP) announced on Friday that a remarkable 98% of depositors in the country are fully protected, ensuring their financial security even in the unlikely event of a bank’s failure.
(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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FBR Achieves Impressive 30% Tax Collection Growth in 5MFY24
Karachi, December 1, 2023 – The Federal Board of Revenue (FBR) has reported an impressive growth of 30 percent in tax collection during the first five months (July – November) of the current fiscal year 2023-2024.
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Pakistan Announces Petroleum Price Reductions, Excluding Petrol, for Early December
Islamabad, November 30, 2023 – Pakistan has declared a reduction in petroleum prices, with the exception of petrol, for the first half of December 2023. The decision comes as part of the government’s effort to address economic considerations and provide relief to consumers.
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FBR Takes Strong Action Against Non-Filer Tax Officials
KARACHI, November 30, 2023 – The Federal Board of Revenue (FBR) has issued a directive to initiate action against tax officials who have failed to file their income tax returns.
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Industrialists Announce Shutdown on December 4 in Protest of Gas Tariff Increase
Karachi, November 30, 2023 – The industrialists of Karachi has announced a widespread shutdown of all industries on Monday, December 4, 2023, demanding the immediate implementation of the approved gas rates of 1350 rupees per MMBTU (Million British Thermal Units) by OGRA.
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Pakistan Sees $91 Million Increase in Foreign Exchange Reserves
Karachi, November 30, 2023 – Pakistan experienced an increase of $91 million in its foreign exchange reserves for the week ending November 24, 2023.
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FBR Warns Sugar Millers of 3-Year Jail Sentence for Sales Tax Evasion
Islamabad, November 30, 2023 – The Federal Board of Revenue (FBR) has delivered a stern warning to sugar millers, cautioning them against sales tax evasion and emphasizing the potential consequences, including a three-year jail sentence.
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Islamabad High Court Grants Stay on Windfall Tax for Banks
Islamabad, November 30, 2023 – The Islamabad High Court (IHC) has issued a stay order on Wednesday, suspending the implementation of a one-off 40 percent tax recently imposed by the government on bank profits derived from foreign exchange transactions over the past two years.
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FBR Officials Granted Amnesty for Return Filing: A Stark Mockery of Pakistan’s Taxation System
Karachi, November 29, 2023 – The Federal Board of Revenue (FBR) officials, entrusted with upholding Pakistan’s taxation integrity, have been afforded an extraordinary amnesty for filing their income tax returns, a move that is being denounced as a blatant mockery of the nation’s tax structure.
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FBR Freezes Bank Accounts of National Flag Carrier for Rs 2.76 Billion Recovery
Karachi, November 29, 2023 – The Federal Board of Revenue (FBR) took stringent action on Wednesday by freezing all bank accounts of Pakistan International Airlines (PIA), the national flag carrier, in an effort to recover an outstanding tax amount of Rs 2.76 billion.
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