Karachi, July 13, 2023 – Pakistan has allowed exemption from customs duty on imports by dignitaries of UAE, Qatar, Bahrain and Saudi Arabia during 2023-24 and onwards.
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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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IMF Transfers $1.2 Billion to State Bank of Pakistan under Stand-By Agreement
Islamabad, July 13, 2023 – The International Monetary Fund (IMF) has transferred $1.2 billion to the State Bank of Pakistan (SBP) as part of a total of $3 billion approved by the IMF board. The remaining balance of $1.8 billion will be provided after two upcoming reviews scheduled for November 2023 and February 2024.
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FBR Extends Tax Exemption of Rs12.24 Billion on Civil and Military Pensions
Karachi, July 13, 2023 – The Federal Board of Revenue (FBR) has announced an extension of income tax exemption totaling Rs12.24 billion on pensions disbursed to civil servants and military personnel.
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IMF Board Greenlights $3 Billion Stand-By Arrangement for Pakistan
Washington, DC, July 12, 2023 – In a move to bolster Pakistan economic stabilization efforts, the Executive Board of the International Monetary Fund (IMF) has granted its approval for a nine-month Stand-By Arrangement (SBA) worth SDR2,250 million (equivalent to approximately $3 billion or 111 percent of quota).
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Google Briefs Pakistani Authorities on Data Protection
Islamabad, July 12, 2023 – A delegation from Google held a meeting with Pakistani authorities on Wednesday to discuss data protection matters.
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Pakistan Advises Financial Institutions to Refrain from Processing Cryptocurrencies
Karachi, July 12, 2023 – The State Bank of Pakistan (SBP) has issued a detailed report advising all financial institutions (FIs) in the country to avoid processing cryptocurrencies due to their status as non-legal tender.
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Pakistan Set to Announce Petroleum Prices for Second Half of July
Islamabad, July 12, 2023 – Pakistan is gearing up to announce the petroleum prices for the second half of July 2023, as the country faces the challenges of surging international oil prices and stringent conditions under the International Monetary Fund (IMF) loan program.
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PM Sharif Expresses Gratitude to Saudi Arabia for $2 Billion Deposit
Islamabad, July 12, 2023 – In a significant development for Pakistan’s economy, Prime Minister Shehbaz Sharif expressed his heartfelt thanks to Saudi Arabia for depositing a substantial amount of $2 billion with the State Bank of Pakistan (SBP).
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Pakistan Reports 55% Slump in Annual Car Sales
Karachi, July 11, 2023 – Pakistan has reported a slump of 55 percent in sales of locally assembled cars during fiscal year 2022-23.
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Gold Drops Massively by Rs4,500 in Anticipation of More PKR Gains
Karachi, July 11, 2023 – Gold prices in Pakistan dropped massively by Rs4,500 per tola on Tuesday in anticipation of further appreciation in value of Pakistani Rupee (PKR).
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