Karachi, June 19, 2023: The Oil Companies Advisory Council (OCAC) has expressed its opposition to the proposed guidelines for the import of petroleum products on a foreign supplier’s account through Customs Bonded Storage Facilities.
(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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Number of Active Taxpayers in Pakistan Reaches 3.94 Million
Islamabad, June 19, 2023 – Recent data released on Monday highlights a significant increase in the number of active taxpayers in Pakistan, reaching 3.94 million.
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Tax Exemption and Concession Expenditure Reaches 3.36% of GDP: FBR
Islamabad, June 19, 2023 – The Federal Board of Revenue (FBR) has announced that the cost of exemptions and concessions in Pakistan expanded to 3.36 percent of the GDP during the fiscal year 2021-2022.
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Pakistani Rupee Declines Against US Dollar Due to High Demand at Week’s Start
Karachi, June 19, 2023 – Analysts have reported a decrease in the value of the Pakistani Rupee against the US dollar on Monday, driven by heightened demand at the beginning of the week.
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Pakistan Takes Significant Step Towards Implementing Riba-Free Banking System
State Bank of Pakistan works towards Sharia-compliant financial system
Karachi, June 19, 2023: In a significant move that aligns with Islamic teachings, Pakistan is on the verge of implementing a Riba-free banking system in the country.
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Pakistan Slashes Petroleum Subsidy by 47% for FY24, Impacting Business and Industry
Islamabad, June 18, 2023: Pakistan has taken significant measures to reduce its petroleum subsidy by 47 percent for the upcoming fiscal year 2023-24, according to official budget documents released recently.
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Tax Concession to Retailers Termed as Politically Motivated
Karachi, June 18, 2023 – The tax concession provided to retailers and jewelers through the Finance Bill, 2023 has come under scrutiny, with critics arguing that it is aimed at appeasing certain political groups in light of the upcoming general elections.
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President Alvi Calls for Adoption of AI-Based Solutions in Pakistan’s Industries
Islamabad, June 17, 2023: President Dr. Arif Alvi emphasized the urgent need for Pakistan’s business and industrial sectors to embrace Artificial Intelligence (AI)-based solutions to address their challenges and enhance efficiency and productivity.
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FPCCI Urges Immediate Resolution to Anomalies in Budget 2023-24
Karachi, June 17, 2023: The President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Irfan Iqbal Sheikh, has called upon the government to promptly address the anomalies present in the recently announced Budget 2023-24.
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Pakistan Responds to IMF Concerns: Addressing Budget 2023-24 Issues
In response to concerns raised by the International Monetary Fund (IMF) regarding Pakistan’s budget for the fiscal year 2023-24, the country’s finance minister issued a statement on Friday, addressing the issues raised and reaffirming Pakistan’s commitment to the IMF program.
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