Karachi, June 22, 2023 – Pakistan’s foreign exchange reserves have experienced a significant decline, dropping by $514 million over the past week, according to the State Bank of Pakistan (SBP).
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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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Ishaq Dar Assures FPCCI of Resolving Anomalies in Budget 2023-24
Karachi, June 22, 2023 – Finance Minister Ishaq Dar has assured the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), the apex trade body of Pakistan, that anomalies in the budget for the fiscal year 2023-24 will be addressed, according to a statement released on Thursday.
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Abu Dhabi Ports Takes Administrative Control of PICT, Boosting Maritime Operations
Karachi, Pakistan – Abu Dhabi Ports, a leading global port operator and subsidiary of the Abu Dhabi Ports Group, has officially signed an agreement with the Karachi Port Trust to obtain administrative control of the Pakistan International Containers Terminal (PICT) located at Karachi Port Terminals.
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SBP Issues Warning Against Unauthorized Digital Lending Mobile Apps
Karachi, June 22, 2023 – The State Bank of Pakistan (SBP) has recently raised concerns regarding the usage of unlicensed and unauthorized digital lending mobile applications and platforms that are utilizing banking channels for loan disbursement, collection, and creditworthiness checks by integrating with customers’ bank accounts.
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Federal Tax Ombudsman Directs FBR to Conduct Audit of Banks for Withholding Tax Compliance
Islamabad, June 22, 2023: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to regularly conduct audit of banks to check compliance with the withholding tax provisions.
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ECC Approves Surcharge Recovery from K-Electric Consumers
ECC greenlights recovery of Rs.1.52/unit surcharge and addresses key financial matters
Islamabad, June 21, 2023 – The Economic Coordination Committee (ECC) of the Cabinet, chaired by Federal Minister for Finance and Revenue Senator Mohammad Ishaq Dar, met on Wednesday to discuss and approve important financial decisions. Among the significant outcomes, the ECC gave its nod to the recovery of a surcharge from K-Electric consumers.
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President Approves Appointment of Justice Qazi Faez Isa as Chief Justice of Pakistan
In a significant development for Pakistan’s judiciary, President Dr. Arif Alvi has officially approved the appointment of Justice Qazi Faez Isa as the next Chief Justice of Pakistan. The announcement was made through a formal statement issued by the President House on Wednesday.
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FBR Launches Draft Income Tax Return Forms for Year 2023
ISLAMABAD: The Federal Board of Revenue (FBR) has taken a significant step towards facilitating taxpayers by launching the draft income tax return forms for the tax year 2023.
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Possibility of Deadline Extension for Exchanging Bearer Prize Bonds beyond June 30
Karachi, June 20, 2023: The government of Pakistan is considering extending the deadline for exchanging bearer prize bonds beyond June 30, 2023, as the last two days of the deadline coincide with public holidays.
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Pakistan’s Current Account Deficit Shrinks by 81% in 11MFY23
KARACHI: Pakistan’s current account deficit witnessed a significant reduction of 81 percent during the first eleven months (July – May) of the fiscal year 2022-23, compared to the same period in the previous fiscal year.
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