Karachi, November 12, 2024 – As Pakistan faces a widening revenue gap, the government is preparing for the introduction of another mini budget to bridge the anticipated fiscal shortfall for the year 2024-25. With the International Monetary Fund (IMF) delegation currently reviewing the nation’s progress under the Extended Fund Facility (EFF), sources indicate that the mini budget is expected to follow closely after the completion of the IMF team’s visit.
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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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IMF Delegation Meets Aurangzeb to Discuss EFF Progress
Islamabad, November 12, 2024 – The International Monetary Fund (IMF) delegation, led by IMF Mission Chief Nathan Porter, held an initial meeting with Finance Minister Muhammad Aurangzeb on Tuesday to discuss Pakistan’s economic progress under the Extended Fund Facility (EFF).
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FBR and IMF Engage in Talks on Potential Revenue Measures
On Monday, the Federal Board of Revenue (FBR) presented the International Monetary Fund (IMF) with an overview of Pakistan’s current fiscal standing, detailing revenue collection progress for the fiscal year 2024-25 and addressing strategies to bridge a projected shortfall of Rs 230 billion for the second quarter (October-December).
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Pakistan’s Total Debt, Liabilities Rise to Rs 85.84 Trillion in 1QFY25
Karachi, November 11, 2024 – Pakistan’s fiscal challenges intensified as total debt and liabilities surged to Rs 85.84 trillion by the end of the first quarter of FY2024-25, the State Bank of Pakistan (SBP) reported Monday.
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Pakistan Car Sales Surge 112% YoY in October 2024
Karachi, November 11, 2024 – The Pakistan car market has witnessed an exceptional surge in sales, with a record-breaking 112% Year-on-Year (YoY) growth in October 2024, as revealed by the Pakistan Auto Manufacturers Association (PAMA) on Monday. The October sales totalled 13,108 units, marking a 27% increase compared to September 2024, signaling a robust recovery in the auto sector.
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FBR Updates ATL, Adding 130K New Active Taxpayers
Karachi, November 11, 2024 – The Federal Board of Revenue (FBR) has officially updated the Active Taxpayers List (ATL) for the tax year 2024, revealing that 5.47 million individuals now hold active taxpayer status.
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FBR Penalizes Property Purchases Made Through Cash Payments
Karachi, November 11, 2024 – In a move aimed at curbing illicit financial activities, the Federal Board of Revenue (FBR) has announced that individuals purchasing immovable property worth Rs 5 million or more through cash payments will face penalties.
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Historic Triumph! Pakistan Beat Australia to Clinch ODI Series After 22 Years
Pakistan stunned the cricket world on Sunday, breaking a 22-year drought to win the One-Day International (ODI) series against Australia in a showdown in Perth. In a decisive performance, Pakistan’s pace attack thundered through Australia’s batting lineup, bowling the hosts out for a meager 140 runs.
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FBR Sets New Rules for International Cargo Transfers at Ports
Karachi, November 9, 2024 – The Federal Board of Revenue (FBR) has released draft amendments under SRO 1789 (I)/2024 to streamline the inter-port movement of international transshipment cargo within Pakistan.
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Aurangzeb Aims to Tax Real Estate, Retailers and Agriculture
Finance Minister Mohammad Aurangzeb has emphasized that it’s time to include the real estate, retail, and agriculture sectors in Pakistan’s tax system. He stated that the government could no longer rely solely on taxes from salaried workers and manufacturers, whose tax rates already reach up to 50%.
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