Karachi, October 23, 2023 – The State Bank of Pakistan (SBP) has released its Annual Report on the State of Pakistan’s Economy for the fiscal year 2022-23, projecting a GDP growth rate of 2 to 3 percent for the fiscal year 2023-24.
(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 Lifts Restrictions on Foreign Payments by Information Technology Sector
Karachi, October 23, 2023 – In a significant move aimed at boosting the country’s information technology sector, Pakistan announced the removal of restrictions on foreign payments made by the IT industry.
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Pakistani Rupee Eases to PKR 279.12 Amid Week’s Start Dollar Demand
Karachi, October 23, 2023 – The Pakistani Rupee (PKR) faced a mild setback on Monday, as it eased to PKR 279.12 against the US Dollar due to heightened demand for the greenback at the commencement of the week.
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SBP Facilitates Freelancers with Exporters’ Special Foreign Currency Account
Karachi, October 23, 2023 – The State Bank of Pakistan (SBP) has introduced a significant initiative to support the growing community of freelancers in the country by launching the Exporters’ Special Foreign Currency Account (ESFCA).
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Conflicting Judgements Complicate Taxation of Properties for Pakistani Residents in UAE
Karachi, October 22, 2023 – As the deadline for filing income tax returns for 2023 approaches in Pakistan, a thorny issue has emerged, causing confusion among Pakistani tax residents who own properties in the United Arab Emirates (UAE).
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FBR Initiates Action Against Millers for Under-Declaring Sugar Value to Evade Sales Tax
Karachi, October 22, 2023 – The Federal Board of Revenue (FBR) has launched an action against sugar millers for allegedly declaring a lower value of sugar to evade sales tax.
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Pakistan Records Decline in Mobile Phone Subscribers to 187.74 Million
Islamabad, October 22, 2023 – Pakistan mobile phone subscriber count has experienced a decline, with the total number of subscribers standing at 187.74 million by the end of September 2023.
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FBR Establishes Committee to Implement Single Portal for Sales Tax Return Filing
Islamabad, October 20, 2023 – The Federal Board of Revenue (FBR) took a significant step on Friday by constituting a dedicated committee tasked with the design, development, and implementation of a single portal for the filing of sales tax returns across various jurisdictions.
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Pakistan Reports 58% Contraction in Current Account Deficit in 1QFY24
Karachi, October 19, 2023 – Pakistan has reported a substantial contraction in its current account deficit (CAD), with a remarkable 58 percent reduction during the first quarter of fiscal year 2023-24.
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SBP Weekly Foreign Exchange Reserves Increase by $67 Million
Karachi, October 19, 2023 – The State Bank of Pakistan (SBP) has reported a noteworthy increase in its weekly foreign exchange reserves, providing a glimmer of positive news amidst concerns about the country’s overall foreign exchange situation.
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