Karachi, November 18, 2024 – Pakistan recorded a current account (CA) surplus of $349 million in October 2024, a notable improvement from a deficit of $287 million in the same month last year, according to data released by the State Bank of Pakistan (SBP).
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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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Aurangzeb Envisions Pakistan’s Economy at $3 Trillion by 2047
Islamabad, November 17, 2024 – Federal Finance Minister Muhammad Aurangzeb has projected that Pakistan’s economy could expand to $3 trillion by 2047, a significant leap from its current $300 billion. In a televised statement on Sunday, he attributed this optimistic outlook to the government’s economic discipline and reform efforts under the leadership of Prime Minister Muhammad Shehbaz Sharif.
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Tax Hikes Slash Mobile Phone Imports by 10.46% in 4MFY25
Karachi, November 17, 2024 – Mobile phone imports into Pakistan experienced a significant contraction of 10.46% during the first four months of the current fiscal year 2024-25, primarily driven by increased taxation introduced in the latest federal budget.
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Non-Filing of Tax Returns a Punishable Offense in Pakistan: FBR
Karachi, November 17, 2024 – The Federal Board of Revenue (FBR) has reiterated that failing to file an income tax return as mandated by the Income Tax Ordinance, 2001, constitutes a punishable offense. The agency emphasized the legal repercussions associated with non-compliance, underscoring its commitment to enforcing tax regulations.
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FBR Highlights Significance of Section 182A for Non-Filers
Karachi, November 17, 2024 – The Federal Board of Revenue (FBR) has clarified the implications of Section 182A of the Income Tax Ordinance, 2001, emphasizing its importance for individuals and entities failing to file their income tax returns within the due date.
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Aurangzeb Rules Out Mini Budget After Productive IMF Talks
Islamabad, November 16, 2024 – Federal Finance Minister Muhammad Aurangzeb has dismissed the possibility of introducing a mini-budget after the conclusion of successful discussions with the International Monetary Fund (IMF). The talks, which included an in-person visit by the IMF mission led by Nathan Porter, were described as productive and aimed at fostering confidence rather than reviewing Pakistan’s economy.
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IMF Recommends Reducing State Role in Pakistan Economy
Islamabad, November 16, 2024 – The International Monetary Fund (IMF) has recommended that Pakistan reduce state intervention in its economy and foster greater competition to support sustainable growth. This advice followed the conclusion of a staff visit to Pakistan, led by Nathan Porter, from November 12 to 15, 2024.
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Government Keeps Petrol, Diesel Prices Unchanged for Fortnight
ISLAMABAD: The federal government has decided to keep fuel prices unchanged for the next fortnight, according to a notification issued by the Finance Division. This decision is based on the price trends of petroleum products in the international market during the last two weeks, as calculated by the Oil and Gas Regulatory Authority (OGRA).
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Banking Sector Drives KSE-100 to New Peak of 94,764 Points
Karachi, November 15, 2024 – The KSE-100 index of the Pakistan Stock Exchange (PSX) soared to a historic high of 94,764 points on Friday, marking a remarkable milestone in Pakistan’s financial markets. The benchmark KSE-100 index posted a gain of 572 points, advancing from the previous close of 94,192 points and continuing a bullish trajectory that has captured investor attention.
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FBR Defines New Roles for DG I&I Customs
Islamabad, November 15, 2024 – The Federal Board of Revenue (FBR) has issued new guidelines outlining the functions and jurisdiction of the Directorate General of Intelligence and Investigation (I&I) Customs. The FBR formalized these changes through SRO 1815(I)/2024, released on Friday.
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