Islamabad, July 5, 2023 – In response to the desecration of the Holy Quran in Sweden, the government of Pakistan has announced countrywide protests and a joint parliamentary session. The decision was made during a meeting chaired by Prime Minister Shehbaz Sharif in Islamabad on Tuesday.
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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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Pakistani Rupee Crushes US Dollar, Gains PKR 10.55 at Interbank Closing
Karachi, July 4, 2023 — The Pakistani Rupee (PKR) crushed the US dollar on Tuesday, gaining PKR 10.55 at closing in the interbank foreign exchange market. The exchange rate recorded a PKR 10.55 increase in rupee value to end at PKR 275.44 to the dollar from last closing of PKR 285.99 on June 27, 2023.
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FBR Enforces 15% Sales Tax on Services Provided by Hotels in Islamabad
Islamabad, July 4, 2023: The Federal Board of Revenue (FBR) has recently implemented a 15 percent sales tax on various services offered by hotels, clubs, and other establishments in Islamabad. This decision aims to enhance revenue collection and streamline taxation procedures within the hospitality sector.
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Pakistan Petroleum Sales Hit 17-Year Low in FY23 Amid Economic Slowdown and Price Surge
Karachi, July 4, 2023 – Petroleum product sales in Pakistan have reached a 17-year low during the fiscal year 2022-23, according to recently released data on Tuesday. The decline in sales can be attributed to higher product prices and an overall economic slowdown, which have significantly impacted demand.
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US Dollar Plummets to PKR 275 at Interbank Opening Following IMF Loan Agreement
Karachi, July 4, 2023: The Pakistani Rupee (PKR) started the trading week with a remarkable surge as the US dollar tumbled to PKR 275 at the opening of the interbank foreign exchange market today. This dramatic decline occurred following the weeklong Eid holidays and a significant development in Pakistan’s financial landscape.
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Pakistan Witnesses $477 Million Increase in Foreign Exchange Reserves
Karachi, July 4, 2023: Pakistan’s foreign exchange reserves have experienced a significant increase of $477 million over the course of a week, as revealed by data released by the State Bank of Pakistan (SBP).
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Pakistan Achieves Impressive 43% Decline in Trade Deficit During FY23
Islamabad, July 3, 2023: Pakistan has made significant progress in its trade dynamics, as official data released on Monday reveals a remarkable 43% decline in trade deficit during the fiscal year 2022-23 when compared to the preceding fiscal year.
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Pakistan Stocks Witness Highest Ever Gain in Record-Breaking Bullish Day
Market Surge Fueled by IMF Stand By Agreement and Positive Investor Sentiment
Karachi, July 3, 2023: In a historic day for country’s stock market, Pakistan stocks experienced their highest ever gain on Monday, marking an exceptional bullish trend.
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Prime Minister Shehbaz Celebrates Record Surge in Pakistan Stock Exchange
Islamabad, July 3, 2023: Prime Minister Shehbaz Sharif expressed his delight today over the unprecedented surge in the Pakistan Stock Exchange (PSX), extending his congratulations to the business community and the nation as a whole.
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Pakistan’s Headline Inflation Increases to 29.4% in June 2023
Islamabad, July 3, 2023: Pakistan’s headline inflation reached 29.4 percent in June 2023, marking a substantial increase compared to the previous month, according to official data released by the Pakistan Bureau of Statistics (PBS) on Monday.
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