Karachi, October 9, 2024 – Pakistan has experienced a remarkable 39% surge in workers’ remittances during the first quarter (July – September) of the fiscal year 2024-25, according to data released by the State Bank of Pakistan (SBP) on Wednesday. The remittance inflows soared to $8.79 billion, a significant increase from $6.33 billion in the corresponding quarter of the previous fiscal year.
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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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KSE-100 Index Surpasses 86,000 Points Milestone in Early Trade
Karachi, October 9, 2024 – The KSE-100 index of the Pakistan Stock Exchange (PSX) has achieved a remarkable milestone, surpassing the 86,000 points mark in early trading on Wednesday. The benchmark index is currently trading at 86,048 points, reflecting a notable gain of 384 points from the previous day’s closing figure of 85,664 points.
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Pakistan’s Debt Soars Beyond Rs 70 Trillion by August 2024
Karachi, October 9, 2024 – Pakistan’s debt burden has surged past Rs 70 trillion by the close of August 2024, according to a report released by the State Bank of Pakistan (SBP).
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Aurangzeb Says Rs190Bn Economic Loss from Single-Day Protest
Islamabad, October 8, 2024 – Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, announced on Tuesday that a single-day nationwide protest could inflict a staggering Rs 190 billion loss to Pakistan’s economy.
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FBR Introduces Tax Holiday for Gwadar Vehicle Imports
Karachi, October 8, 2024 – In a major policy development aimed at fostering economic activity around the Gwadar Port and Free Zones, the Federal Board of Revenue (FBR) announced a tax holiday for vehicles imported by entities operating within these areas.
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SBP Unveils Series of Incentives to Boost Home Remittances
Karachi, October 8, 2024 – In a strategic move aimed at fortifying Pakistan’s foreign exchange reserves and stimulating the inflow of remittances, the State Bank of Pakistan (SBP) announced a series of robust incentives on Tuesday. These initiatives are specifically designed to encourage exchange companies (ECs), authorized dealers (ADs), and microfinance banks (MFBs) to amplify their efforts in mobilizing home remittances.
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Pakistan Stocks Hit New Record High of 85,664 Points Amid Bullish Rally
Karachi, October 8, 2024 – The Pakistan stocks continued its bullish streak on Tuesday as the benchmark KSE-100 index surged to an all-time high of 85,664 points, marking a 754-point gain from the previous day’s close of 84,910 points.
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SBP Revises Per Party Exposure Limits to Boost SME Financing
Karachi, October 8, 2024 – The State Bank of Pakistan (SBP) has taken a significant step towards promoting Small and Medium Enterprises (SMEs) by revising the per party exposure limits for these businesses.
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KSE-100 Index Surges to Historic High, Approaches 85,000 Points
Karachi, October 7, 2024 – In a historic leap, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) skyrocketed on Monday, closing just shy of the coveted 85,000-point milestone. The index surged by 1,378 points, or 1.65%, to conclude the trading session at 84,910 points, a significant rise from last Friday’s close of 83,532 points.
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FTO Exposes Cybersecurity Breach in FBR Leading to Rs 14.66 Billion Tax Fraud
Karachi, October 7, 2024 – In a shocking revelation, the Federal Tax Ombudsman (FTO) has identified a monumental tax fraud worth Rs 14.66 billion attributed to a cybercrime breach within the Federal Board of Revenue (FBR). The crime, which infiltrated FBR’s system, resulted in unauthorized access and the misuse of taxpayer data, leading to colossal losses for the national exchequer. This fraud case marks one of the most significant cyberattacks targeting Pakistan’s tax infrastructure.
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