The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has recently put forward a recommendation for a dollar amnesty scheme to address the issue of exchange rate volatility in the country.
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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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Petrol pumps may not accept cash for fuel purchase in Pakistan
Pakistan is contemplating a potential restriction on cash payments for fuel purchases at petrol pumps as part of an effort to promote digitalization and curb financial irregularities.
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Pakistan Updates Petroleum Prices Ahead of Federal Budget 2023-24
Islamabad, Pakistan – Pakistan has announced updated petroleum prices ahead of the highly anticipated federal budget for the fiscal year 2023-24, scheduled to be announced on June 9, 2023.
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Pakistan, Turkey Set to Increase Bilateral Trade to $5 Billion
Islamabad, June 4, 2023 – Prime Minister Muhammad Shehbaz Sharif has said that Pakistan and Turkey are set to increase their bilateral trade to $5 billion annually over the next three years.
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Pakistan Budget 2023-2024: Navigating Challenges and Striving for Economic Stability
The Pakistan Budget for the fiscal year 2023-2024 faces significant challenges due to stagflation, uncertainties surrounding the upcoming elections, and the country’s external account funding gap.
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Auto Assemblers Reject Proposed Withholding Tax on Invoice Prices
Karachi, June 3, 2023 – Local auto assemblers have strongly opposed a budget proposal for the fiscal year 2023-24 that suggests levying the Withholding Tax (WHT) based on invoice prices of motor vehicles instead of engine capacity. Industry representatives argue that this change could further distress an already struggling auto sector, leading to a decline in sales.
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Petroleum Prices Surge by 45%, Driving Inflation in Pakistan
Karachi, June 2, 2023 – Petroleum prices in Pakistan have experienced a significant increase of 45% on a year-on-year basis, contributing to a rise in inflation, according to official statistics released on Friday by the Pakistan Bureau of Statistics (PBS).
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Pakistan’s Import Bill Surges by 43% in May 2023, Trade Deficit Widens
Karachi, June 2, 2023 – Pakistan’s import bill experienced a substantial increase of 43% in May 2023, reaching $4.28 billion compared to $2.99 billion in the previous month, according to official statistics released on Friday. In contrast, exports recorded a nominal increase, reaching $2.19 billion in May 2023 compared to $2.14 billion in April 2023.
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Majority Expects Unchanged Policy Rate in Upcoming SBP Announcement
In a recent poll conducted by Topline Securities, market participants have expressed their expectations regarding the State Bank of Pakistan’s (SBP) upcoming monetary policy announcement.
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PM Sharif Directs Strict Measures to Combat Illegal Sale of Cigarettes
Prime Minister Shehbaz Sharif, during a meeting with a delegation from the Pakistan Tobacco Company, emphasized the immediate need to address the issue of illegal sales of cigarettes and tobacco products.
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