Islamabad, October 6, 2023 – Pakistan has reported a significant surge in inflation for essential items, with a staggering increase of 37.07 percent, primarily driven by a massive 118 percent rise in electricity charges, according to data released by the Pakistan Bureau of Statistics (PBS) on Friday.
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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 Allows No Tax Deduction for Citizens Exempted from Return Filing
Karachi, October 6, 2023 – Pakistan has implemented a policy allowing for no deduction of withholding tax for citizens who are exempted from filing tax returns.
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Pakistan May Reduce Petroleum Prices Sharply for Second Half of October 2023
Karachi, October 6, 2023 – Pakistan may announce a significant reduction in petroleum product prices for the second half of October 2023 following a substantial drop in international oil prices.
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Pakistan’s External Debt Surges 39% Year-on-Year in August 2023
Karachi, October 5, 2023 – Pakistan’s external debt has experienced a staggering 39 percent year-on-year increase in August 2023, primarily attributed to a significant depreciation of the Pakistani rupee against the US dollar during this period.
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Pakistan’s Foreign Exchange Reserves Decrease to $13.03 Billion
Karachi, October 5, 2023 – Pakistan’s foreign exchange reserves have witnessed a decline, falling to $13.03 billion, as revealed by official data released by the central bank on Thursday.
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FBR Targets Retailers Transactions to Widen Tax Base
Karachi, October 5, 2023 – The Federal Board of Revenue (FBR) in Pakistan has taken a significant step to expand the tax base by obtaining transaction records of retailers operating in the country. Sources within the FBR have revealed that this move is part of a broader effort to bring more businesses within the tax net.
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Pakistani Rupee Surges by 7.65% Against US Dollar Since Hitting Lowest Level
Karachi, October 5, 2023 – The Pakistani Rupee (PKR) has experienced a remarkable strengthening of 7.65 percent against the US dollar since reaching its lowest level on September 5, 2023.
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Pakistan Customs Uncovers Rs 69.5 Billion in Money Laundering Cases Over Five Years
Islamabad, October 4, 2023 – Pakistan’s customs authorities have revealed that they detected money laundering activities worth a staggering Rs 69.5 billion over the past five years.
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Pakistani Rupee on Historic Month-Long Winning Streak Against US Dollar
Karachi, October 4, 2023 – The Pakistani Rupee (PKR) has completed an unprecedented month-long surge against the US dollar, marking a historic turnaround for the local currency.
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Pakistan Expands Negative List for Afghan Transit Trade to Curb Smuggling and Misuse
Karachi, October 4, 2023 – Pakistan has expanded its negative list to prohibit certain goods imported by Afghanistan under transit arrangements, in a move aimed at curbing smuggling and preventing the misuse of transit facilities,
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