Islamabad, November 30, 2024: The government of Pakistan has announced an increase in the prices of key petroleum products for the first half of December 2024. The adjustment, based on recommendations from the Oil and Gas Regulatory Authority (OGRA), reflects global market trends and rising oil prices.
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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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PIA Will Get Higher Bids After EASA Lifts Ban: Khawaja Asif
Sialkot, November 30, 2024 – Aviation Minister Khawaja Asif welcomed the European Commission and the European Aviation Safety Agency’s (EASA) decision to lift the suspension on Pakistan International Airlines (PIA), expressing optimism about its positive impact on the privatization process of the indebted national carrier.
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PSX Expected to Maintain Positive Momentum Coming Week
The Pakistan Stock Exchange (PSX) is expected to maintain its upward trajectory in the upcoming week, with analysts at Arif Habib Limited forecasting further gains fueled by declining inflation expectations. Analysts predict that the inflation rate for November 2024 will ease to 4.7% year-on-year (YoY), a development likely to boost investor sentiment and push the PSX higher.
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FBR Grants Tax Exemption to Overseas Pakistanis on Properties
Karachi, November 29, 2024 – The Federal Board of Revenue (FBR) has announced an extension of tax exemptions for overseas Pakistanis involved in property transactions, reaffirming its commitment to facilitating expatriates.
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KSE-100 Hits New Record at 101,357 Points Amid Market Rally
Karachi, November 29, 2024 – The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) reached an all-time high of 101,357 points on Friday, marking a gain of 1,274 points from the previous day’s close of 100,083 points.
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Karachi’s Large Taxpayers Pay Rs 12.50 Billion Electricity Tax
Karachi, November 29, 2024 – Karachi’s large taxpayers have paid Rs 12.50 billion as advance tax on electricity consumption during the first four months (July – October) of the current fiscal year 2024-25, according to sources from the Federal Board of Revenue (FBR). The payment marks a significant surge, highlighting a substantial increase in tax collection for the period.
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Pakistan Likely to Increase Petroleum Prices for December 2024
Pakistan is expected to raise petroleum product prices starting December 1, 2024, driven by a recent surge in international oil prices. The adjustment will follow the fortnightly review of petroleum prices, with the next update scheduled for November 30, 2024. The revised prices will remain effective from December 1 to December 15, 2024.
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FBR Withdraws Property Valuation Rebates in Karachi
Karachi, November 28, 2024 – The Federal Board of Revenue (FBR) has clarified that no reductions in property valuations are available under its latest notification for Karachi. The Regional Tax Office (RTO) – 1 Karachi, a key arm of the FBR, issued this clarification in response to doubts raised about Notification No. SRO 1724(I)/2024, dated October 29, 2024, which outlines updated property valuation tables for the city.
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FPCCI President Announces Rs 5 Billion Seed Fund for Air Karachi
Karachi, November 28, 2024 – Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), announced an initial Rs 5 billion seed fund for the launch of a new airline, Air Karachi. This initiative, spearheaded by prominent business leaders, aims to revolutionize air travel in Pakistan.
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PSX Celebrates First Closing Above 100K in Stunning Turnaround
Karachi, November 28, 2024 – The Pakistan Stock Exchange (PSX) achieved a historic milestone on Thursday as the benchmark KSE-100 Index soared past the 100,000-point mark for the first time. This remarkable achievement came in the wake of earlier market turbulence caused by violent protests in Islamabad.
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