Karachi, June 2, 2023 – Pakistan’s import bill experienced a substantial increase of 43% in May 2023, reaching $4.28 billion compared to $2.99 billion in the previous month, according to official statistics released on Friday. In contrast, exports recorded a nominal increase, reaching $2.19 billion in May 2023 compared to $2.14 billion in April 2023.
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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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Majority Expects Unchanged Policy Rate in Upcoming SBP Announcement
In a recent poll conducted by Topline Securities, market participants have expressed their expectations regarding the State Bank of Pakistan’s (SBP) upcoming monetary policy announcement.
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PM Sharif Directs Strict Measures to Combat Illegal Sale of Cigarettes
Prime Minister Shehbaz Sharif, during a meeting with a delegation from the Pakistan Tobacco Company, emphasized the immediate need to address the issue of illegal sales of cigarettes and tobacco products.
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FBR Falls Short of Tax Collection Target for May 2023
The Federal Board of Revenue (FBR) in Pakistan faced a setback in May 2023 as it failed to meet the tax collection target by Rs49 billion. Despite achieving growth in certain areas, a combination of reduced imports, a sluggish economy, and revised GDP growth rates posed challenges for the FBR.
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Pakistan’s Foreign Exchange Reserves Decline to $9.513 Billion
Pakistan’s foreign exchange reserves have experienced a decline of $218 million, reaching $9.513 billion by the week ended May 26, 2023, according to a statement by the central bank.
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Pakistan’s Headline Inflation Soars to All-Time High of 38% in May 2023
Pakistan witnessed a significant surge in headline inflation as the Consumer Price Index (CPI) reached an unprecedented all-time high of 38% in May 2023.
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SRB exhibits remarkable performance, collects Rs161 in 11 months
Karachi, June 1, 2023 – The Sindh Revenue Board (SRB) has achieved a remarkable milestone in revenue collection during the first eleven months of the current fiscal year.
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Pakistan Considers Restricting Cash Transactions Above Rs. 10,000 at Retail Outlets
In an effort to promote the documentation of the economy, the government of Pakistan is contemplating imposing restrictions on cash transactions exceeding Rs. 10,000 at retail outlets.
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Pakistan Slashes Petroleum Prices for First Half of June 2023
Pakistan has announced a significant reduction in petroleum prices for the first half of June 2023. The decision was made by Finance Minister Muhammad Ishaq Dar and will come into effect on June 1 and remain in place until June 15.
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Tax Reform Commission Recommends Measures to Counter Petroleum Smuggling
The Reform and Revenue Mobilization Commission (RRMC) has proposed the implementation of a marking and monitoring system in the petroleum sector to combat the rampant smuggling of petroleum products in Pakistan.
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