KARACHI: On Wednesday, the US dollar strengthened against the Pakistani rupee, reaching PKR 227.93 in the interbank foreign exchange market.
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Find top stories in this section. Pakistan Revenue brings you the latest and most important news from Pakistan and around the world, keeping you informed with key updates and insights.
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High inflation may compel SBP to further raise interest rate to 18pc: analysts
KARACHI: State Bank of Pakistan (SBP) may further raise benchmark interest rate by 2 per cent to 18 per cent from existing 16 per cent during next six months owing to high inflation, analysts said on Tuesday.
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FBR issues list of 60 retailers for mandatory tax integration
ISLAMABAD: Federal Board of Revenue (FBR) Tuesday issued a list of 60 big retailers for a mandatory integration under sales tax laws.
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Rupee falls for 27th session to PKR 227.88 against dollar
KARACHI: Pakistani Rupee (PKR) continued a non-stop decline for last 27 sessions against the dollar owing to challenging economic situation.
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Mari Petroleum announces gas discovery in Sindh province
KARACHI: Mari Petroleum Company Limited (MPCL) on Monday announced gas discover in Sindh province.
In a communication sent to Pakistan Stock Exchange (PSX), the company said it had made a gas discovery at its exploratory well Mari Ghazij-1, located in Mari D&PL in Sindh Province.
MPCL is the Operator of Mari D&PL with 100 per cent working interest.
The well was spud-in on November 24, 2022 and successfully drilled down to the depth of 1,015 meters.
The gas flow rate established through Drill Stem Test (DST) is 5.1 Million Standard Cubic Feet Per Day (MMSCFD) with Wellhead Flowing Pressure (WHFP) of232 Pounds Per Square Inch (Psi) at 64/64 inch choke size.
The company plans to appraise the discovery to prove its extent and, in parallel, evaluate its development options.
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Pakistani bank penalized for frivolous litigation
ISLAMABAD: A Pakistani commercial bank has been penalized by the country’s president for filing frivolous representation.
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Tax collection from new car registration surges 67pc to Rs19 billion: FBR
ISLAMABAD: Federal Board of Revenue (FBR) has said that income tax collection from new car registration surged by 67 per cent in fiscal year 2021-2022.
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FBR withdraws tax audit notices sent more than once in four years
KARACHI: Federal Board of Revenue (FBR) has withdrawn tax audit notices to taxpayers, who were selected for audit once in last four years.
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FBR records 45pc growth in payment with income tax returns
ISLAMABAD: Federal Board of Revenue (FBR) has recorded a 45 per cent growth in payment with income tax returns during fiscal year 2021-2022.
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Thousands of fake transactions discovered in taxpayer profile; FTO orders probe
ISLAMABAD: A taxpayer has discovered thousands of fake transactions in his profile. The taxpayer moved to the Federal Tax Ombudsman (FTO) for relief after disappointment from the tax authorities.
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