The Federal Board of Revenue (FBR) conducted a briefing on Monday to present tax proposals for the upcoming budget of 2023-2024 to Finance Minister Muhammad Ishaq Dar. The meeting, held at the Finance Division, was chaired by Minister for Finance and Revenue, Senator Mohammad Ishaq Dar.
(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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Pakistan May inflation to hit new high despite petroleum price reduction
According to analysts at JS Global, Pakistan’s headline inflation based on the Consumer Price Index (CPI) is expected to reach a new peak in May 2023, despite a reduction in petroleum prices during the month.
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Pakistan records highest monthly power generation decline in April 2023
In April 2023, Pakistan experienced the highest monthly decline in power generation since July 2012. The total power generation during that month decreased by 23 percent year-over-year (YoY) to 10,010 GWh (13,903 MW), compared to 12,960 GWh (18,001 MW) in April 2022.
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Pakistan’s wheat imports surge by 32% amid Russia-Ukraine War
Pakistan has experienced a significant surge in wheat imports, totaling $1.05 billion during the period from July to April in the fiscal year 2022-2023.
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Cash-strapped Pakistan spends $473 million on mobile phone imports
In a surprising move, Pakistan has reportedly spent a staggering $473 million on the import of mobile phones during the first 10 months of the current fiscal year, despite grappling with a severe shortage of foreign currency.
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Import of CBU cars in Pakistan surges by 146% in April 2023
Despite the Pakistani government’s efforts to restrict the import of luxury and non-essential items, the import of Completely Built Unit (CBU) cars into the country experienced a significant surge of 146 percent on a month-on-month (MoM) basis in April 2023.
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Pakistani rupee extends losses against US dollar, ending at PKR 285.82
The Pakistani Rupee (PKR) faced further depreciation against the US dollar, falling by 20 paisas on Friday. This decline is attributed to a scarcity of inflows, resulting in a decrease in foreign exchange reserves.
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Pakistan releases details of rising petroleum prices over past year
Pakistan has provided a comprehensive report detailing the increase in petroleum prices over the past year, resulting in inflationary pressure on the general population.
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FBR Collects Rs2.23 Billion as Capital Value Tax on Foreign Assets
The Federal Board of Revenue (FBR) has successfully collected Rs2.23 billion as Capital Value Tax (CVT) on foreign assets owned by resident individuals.
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Pakistan’s foreign exchange reserves dip to $9.938 billion
Pakistan’s foreign exchange reserves for the week ended May 12, 2023, have decreased by $52 million, reaching $9.938 billion, the State Bank of Pakistan (SBP) said on Thursday.
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