ISLAMABAD: The privatization of Pakistan International Airlines (PIA) has encountered a significant setback as unresolved tax liabilities and labor issues have deterred pre-bidding parties from moving forward.
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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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Pakistan, Malaysia Vow to Strengthen Bilateral Ties in Key Sectors
Islamabad, October 3, 2024 – Pakistan and Malaysia reaffirmed their commitment to further bolster bilateral cooperation in key sectors including trade, economy, banking, food technology, and agriculture. This pledge was made during a high-profile meeting between President Asif Ali Zardari and the visiting Malaysian Prime Minister Dato’ Seri Anwar Ibrahim at Aiwan-e-Sadr. The meeting, attended by senior Pakistani officials and ministers, focused on fortifying strategic partnerships between the two nations.
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Pakistan’s Forex Reserves Hit $16 Billion Amid IMF Support
Karachi, October 3, 2024 — Pakistan’s foreign exchange reserves have surged to nearly $16 billion, marking a significant increase after receiving inflows from the International Monetary Fund (IMF), the State Bank of Pakistan (SBP) announced on Thursday.
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FBR Delegates Powers of Customs Officers to Frontier Corps Balochistan
Islamabad, October 3, 2024 – In a decisive move to combat smuggling across Pakistan’s western borders, the Federal Board of Revenue (FBR) on Thursday delegated key customs powers to the Frontier Corps (FC) Balochistan. This measure aims to curb the illicit trade and smuggling activities rampant in the province’s border regions.
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Pakistan Stock Market Hits All-Time High at 82,722 Points
Karachi, October 3, 2024 – In a historic performance, the Pakistan Stock Exchange (PSX) soared to an all-time high on Thursday, with the benchmark KSE-100 index reaching 82,722 points. The remarkable surge of 755 points from the previous day’s close of 81,967 points highlights the buoyant sentiment that dominated the market, as investors capitalized on improved market conditions and positive corporate earnings.
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Prize Bonds Redemption Deadline Extended to December 31, 2024
Karachi, October 2, 2024 – In a significant move aimed at providing relief to prize bondholders, the Government of Pakistan has extended the deadline for the encashment, replacement, and conversion of bearer prize bonds to December 31, 2024. This extension follows the initial expiration date of June 30, 2024, as announced earlier by the State Bank of Pakistan (SBP).
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Pakistan Achieves Over 14% Export Growth in First Quarter of FY25
Islamabad, October 2, 2024 – Pakistan has reported an impressive 14.11% growth in exports during the first quarter of the fiscal year 2024-25 (1QFY25), a significant indicator of the country’s economic resilience. According to data released by the Pakistan Bureau of Statistics (PBS), exports soared to $7.88 billion between July and September 2024, compared to $6.90 billion in the same period last fiscal year.
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Pakistan Targets Rs 10 Trillion to Bridge Budgetary Deficit
Pakistan is poised to secure a substantial Rs10.10 trillion in bank loans through the sale of treasury bills and bonds during the second quarter (October-December) of FY2025, as it grapples with rising funding demands to finance its budget deficit and meet outstanding debt obligations.
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Oil Prices Surge 5% Following Iran’s Missile Strike on Israel
Oil prices surged nearly 5% on Tuesday in response to escalating geopolitical tensions after Iran launched a barrage of missiles toward Israel. This action has sent shockwaves through the energy market, intensifying concerns over the stability of oil supplies from the Middle East.
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Prime Minister Shehbaz Hails Record Low Inflation in 44 Months
Islamabad, October 1, 2024 – Prime Minister Muhammad Shehbaz Sharif on Tuesday expressed satisfaction over the sharp decline in inflation, which has now fallen to its lowest level in the past 44 months. The inflation rate, recorded at 6.9 percent year-on-year in September 2024, marks a significant milestone in the government’s efforts to ease the financial burden on the masses.
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