Karachi, April 25, 2025 – Pakistan’s banking sector has recorded a historic milestone as total bank deposits surged to an unprecedented Rs31.63 trillion by the end of March 2025, according to the latest data released by the State Bank of Pakistan (SBP) on Thursday.
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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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PSX sinks 2,206 points amid escalating Pakistan-India tensions
Karachi, April 24, 2025 – The Pakistan Stock Exchange (PSX) witnessed a sharp decline of 2,206 points on Thursday as mounting tensions between Pakistan and India rattled investor confidence and triggered a broad-based sell-off across the market.
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March 2025 tax collection from bank deposits plunges 54%
KARACHI, April 24, 2025 — The Federal Board of Revenue (FBR) has experienced a sharp decline in income tax collection from profits on bank deposits in March 2025, with receipts plunging by 54% compared to the same month last year.
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FBR mulls tax on YouTube, social media earnings in FY26 budget
Karachi, April 23, 2025 – The Federal Board of Revenue (FBR) is actively considering the introduction of a new tax regime targeting income generated through digital platforms such as YouTube and other social media channels.
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IMF cuts Pakistan GDP growth forecast amid global uncertainty
ISLAMABAD: The International Monetary Fund (IMF) has revised its GDP growth forecast for Pakistan, lowering the projection for fiscal year 2025 to 2.6 percent — a 0.4 percent drop from its earlier estimate of 3 percent published in January 2025.
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Bank Refunds Millions After Fraudulent Transactions Occur
Karachi, April 22, 2025 – A leading bank has come under scrutiny after its failure to prevent a major fraudulent incident led to unauthorized withdrawals totaling over Rs7.3 million.
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Habib Bank Tops 2024 List for Customer Complaints
KARACHI, April 22, 2025 – Habib Bank Limited (HBL) has topped the list of financial institutions with the highest number of banking customer complaints during the calendar year 2024, according to the annual report released by the Banking Mohtasib of Pakistan.
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Pakistan, UAE Ink Multiple MoUs to Deepen Bilateral Cooperation
Islamabad, April 21, 2025 – Pakistan and the United Arab Emirates (UAE) signed a series of Memoranda of Understanding (MoUs) on Monday, covering key areas such as culture, trade, and consular affairs. These agreements reflect the growing partnership and mutual trust between the two brotherly nations.
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Historic Gold Price Spike Hits Pakistan, Global Markets
Karachi, April 21, 2025 – Gold prices surged to new historic highs on Monday, reaching unprecedented levels in both Pakistan and the global markets. This sharp rise comes amid heightened volatility in international commodity trading and ongoing economic uncertainty.
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FBR Grants Rs 127 Billion Customs Duty Exemption to Exports
Karachi, April 20, 2025 – In a major move to stimulate the country’s export sector, the Federal Board of Revenue (FBR) has granted a massive exemption of Rs 127 billion in customs duty under various export facilitation schemes.
According to the FBR’s latest Tax Expenditure Report 2024, the exemptions were primarily extended to support a range of exports-oriented activities. These exemptions were issued under multiple statutory regulatory orders (SROs) and targeted different sectors involved in the promotion and facilitation of exports.
Breakdown of the exemption includes Rs 34.46 billion granted under SRO 327(I)/2008 for Export Oriented Units, and Rs 23.48 billion under SRO 450(I)/2001 for operations in Export Processing Zones (EPZ). Additionally, Rs 23.21 billion worth of exemption was provided under the Export Facilitation Scheme, aiming to streamline and accelerate the exports process for approved businesses.
Another significant share of the exemption, amounting to Rs 20.44 billion, was offered under the Manufacturing Bond scheme, while the Duty and Tax Remission for Exports (DTRE) regime accounted for Rs 7.13 billion. Temporary import provisions under various SROs contributed over Rs 18 billion in exemptions, facilitating the import of machinery, equipment, and packaging material strictly for exports.
The FBR stated that these measures are designed to reduce the cost of doing business for exporters, enhance global competitiveness, and encourage value-added exports. The revenue authority also highlighted the importance of facilitating sectors that are aligned with the country’s broader economic goals, including job creation and foreign exchange earnings.
This substantial exemption is part of the government’s broader policy to boost industrial growth by providing relief on raw materials and intermediate goods used in manufacturing for exports. While the FBR is under pressure to meet revenue targets, it maintains that such strategic exemptions are necessary to achieve long-term economic stability and trade expansion.
The FBR will continue monitoring the impact of these incentives and may revise policies to ensure maximum benefit for the national economy and the export sector.