Karachi, June 7, 2023 – Pakistan is gearing up to announce its crucial budget for the Fiscal Year 2023-2024 on June 9, 2023. This budget holds significant importance as the country faces multiple crises, including devastating floods and a deteriorating external account position, compounded by political challenges.
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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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SBP Extends Facility Allowing Freelancers to Keep 35% of Export Earnings in FCY Accounts
Karachi, June 7, 2023 – The State Bank of Pakistan (SBP) has announced an extension of the facility that allows freelancers in the Information Technology (IT) sector to retain 35% of their export earnings in their foreign currency (FCY) accounts.
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PM Shehbaz Sharif Directs Mega Incentives for IT Sector in Budget 2023-24
ISLAMABAD: Prime Minister Shehbaz Sharif has issued directives to include substantial incentives for Pakistan’s Information Technology (IT) sector in the fiscal budget for 2023-24, aiming to bolster the country’s IT exports.
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FBR Releases Draft Rules for Real-Time Tracking and Monitoring of Cargo
Islamabad, June 6, 2023: The Federal Board of Revenue (FBR) Tuesday recently released draft rules for the tracking and monitoring of various types of cargo.
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Utility Stores Implements Massive Reduction in Oil and Ghee Prices from June 7
Islamabad, June 6, 2023: In a bid to provide significant relief to consumers ahead of the announcement of the Budget 2023-2024, the Utility Stores Corporation (USC) has announced a massive reduction in the prices of edible oil and ghee, effective from June 7, 2023.
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Rupee Experiences Third Consecutive Loss Against Dollar; Interbank Ends PKR 286.56
Karachi, June 6, 2023: The Pakistani Rupee (PKR) experienced its third consecutive loss against the US dollar on Tuesday, closing at PKR 286.56 in the interbank foreign exchange market.
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FBR to Scrutinize Taxpayers for Nil Payment, Targets Underreporting
The Federal Board of Revenue (FBR) is considering implementing special measures to examine taxpayers who filed their annual returns without making any tax payments.
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Commission Raises Concerns Over Verification of Freight Charges and Valuation in Import Sector
Islamabad, June 5, 2023: A high-powered commission, appointed by the finance minister of Pakistan, has expressed concerns regarding the verification of freight charges in CFR/CNF (Cost and Freight/Cost, Insurance, and Freight) invoices, which has led to potential underdeclaration of CNF values and the exclusion of freight charges on the Bill of Lading.
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ECC Approves Rs9.2 Billion Guarantee for Hyderabad-Sukkur Motorway
Islamabad, June 5, 2023 – The Economic Coordination Committee (ECC) of the Cabinet granted its approval on Monday for a government guarantee amounting to Rs9.2 billion towards the construction of the Hyderabad-Sukkur motorway.
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Pakistani Rupee Eases by 51 Paisas to Dollar in Interbank on June 5, 2023
In the interbank foreign exchange market on Monday, June 5, 2023, the Pakistani Rupee (PKR) experienced a decline of 51 paisas against the US dollar.
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