Karachi, November 13, 2023 – Pakistan’s automotive industry is grappling with a significant setback as the country witnessed a sharp 44 percent decline in car sales during the first four months of the fiscal year 2023-24 (July to October).
(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 Stock Market Hits Unprecedented Altitude, Surging to 56,523 Points
Karachi, November 13, 2023 – The Pakistan stock markets hit new heights on Monday, reaching a new record level of 56,523 points, as positive sentiments dominated the trading floor amid optimistic economic indicators.
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Dollar Extends Winning Streak Against Rupee for 15th Consecutive Session, Reaches PKR 287.55
Karachi, November 13, 2023 – The US dollar maintained its dominance over the Pakistani Rupee (PKR) for the 15th consecutive session, breaching the PKR 287.55 mark in the interbank foreign exchange market on Monday.
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Sales Tax Rates Unveiled for Tax Year 2024 in Pakistan
Karachi, November 13, 2023 – The Federal Board of Revenue (FBR) has announced the sales tax rates for the tax year 2024 through the updated Sales Tax Act, 1990, effective from July 1, 2023.
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Rupee Anticipates Increased Pressure Against Dollar Next Week Starting November 13
KARACHI, November 12, 2023: The Pakistani Rupee (PKR) is anticipated to remain under pressure against the US dollar in the coming week as talks with the International Monetary Fund (IMF) persist.
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Tax Collection from Profit on Debt Surges by 103% Amid Soaring Interest Rates
Karachi, November 11, 2023 – The fiscal landscape of Pakistan has witnessed a remarkable surge, with tax collection from profit on debt skyrocketing by an impressive 103 percent, propelled by the prevailing high-interest rates, according to an official report.
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State Bank of Pakistan Sheds Light on Key Tax Measures Introduced in FY23
Karachi, November 11, 2023 – The State Bank of Pakistan (SBP) has shed light on pivotal tax measures unveiled in the fiscal year 2022-23, emphasizing the transformative impact of these initiatives on the economic landscape.
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Pakistan Stock Market Reaches Highest-Ever Level of 55,391 Points
Karachi, November 10, 2023 – The Pakistan stock market reached unprecedented heights on Friday, soaring to 55,391 points.
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Pakistan Records 26% YoY Growth in Total Debt in 1QFY24
Karachi, November 10, 2023 – Pakistan has experienced a significant uptick of 26 percent in its total debt during the first quarter (July – September) of the current fiscal year 2023-24, as revealed by official data released on Friday.
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FBR Introduces Electronic Sales Tax Invoice Rules to Modernize Transaction Recording
Islamabad, November 10, 2023 – The Federal Board of Revenue (FBR) has taken a significant step toward modernizing tax documentation with the issuance of rules for electronic sales tax invoices.
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