Karachi, November 16, 2023 –The citizens in Pakistan are set to continue enjoying a sales tax holiday on the purchase of petroleum products throughout the second half of November 2023 in a move of the government aimed at providing relief to the masses amidst a global economic downturn.
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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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Banks to Contribute Rs 58 Billion in Windfall Tax Boosting Government Revenue
Karachi, November 16, 2023 – Banks in Pakistan are set to pay an additional Rs 58 billion in income tax following the federal cabinet’s approval of a 40 percent tax on windfall profits derived from foreign exchange transactions in 2021 and 2022.
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Pakistan Slashes Petroleum Prices, Effective from November 16
In a move aimed at providing relief to the general public, the Pakistani government has announced a significant reduction in the prices of petroleum products, effective from Thursday, November 16, 2023.
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IMF Reaches Agreement with Pakistan on First Review of $3 Billion Stabilization Program
Washington, DC, November 15, 2023 – The International Monetary Fund (IMF) disclosed on Wednesday that it has successfully reached a staff-level agreement (SLA) with Pakistani authorities on the first review of their stabilization program. The program, backed by the IMF’s $3 billion Stand by Arrangement (SBA), aims to bolster Pakistan’s economic stability.
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Prime Minister Anwaar-ul-Haq Kakar Reaffirms Commitment to IMF
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Pakistani Rupee Continues Downward Spiral, Closes at PKR 288.14 Against US Dollar
Karachi, November 15, 2023 – The Pakistani Rupee (PKR) sustained its downward trajectory for the 17th consecutive session against the US dollar, closing at PKR 288.14 in the interbank foreign exchange market on Wednesday.
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Sales Tax Act Grants FBR Authority to Disconnect Electricity and Gas for Defaulting Retailers
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Pakistan Announces Petroleum Prices Today for Remaining Half of November 2023
Pakistan today is announcing petroleum prices for remaining half of November 2023, which will applicable from November 16.
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Pakistani Rupee Records 16th Consecutive Dip Against Dollar, Closing at PKR 287.87
Karachi, November 14, 2023 – The Pakistani Rupee (PKR) extended its losing streak against the US dollar for the 16th consecutive session, closing at PKR 287.87 in the interbank foreign exchange market on Tuesday.
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Pakistan Prime Minister Directs Comprehensive Strategy for FBR Restructuring
Islamabad, November 13, 2023 – Pakistan Prime Minister on Monday directed authorities to formulate a comprehensive strategy for restructuring the Federal Board of Revenue (FBR).
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