The State Bank of Pakistan (SBP) allows reimbursement charges to cover donations and contributions made by overseas Pakistanis for the ‘Prime Minister and Chief Justice of Pakistan Fund for Diamer Bhasha and Mohmand Dam.’
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FPCCI blames former government for misusing GIDC
Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has blamed the former government for misusing Gas and Infrastructure Development Cess (GIDC) and urged the authorities to urgently address the persistent issue.
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Equity Market Plunges By 342 points on Negative Sentiments
The Pakistan equity market witnessed a decline of 342 points on Wednesday, as negative trading sentiments and profit-taking activities influenced market performance.
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Foreign Direct Investment Falls By 19.2pc in July-December
The State Bank of Pakistan (SBP) has reported a significant decrease in the inflow of Foreign Direct Investment (FDI) into Pakistan during the first half of the current fiscal year, signaling a challenging economic environment.
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Rupee Eases Against Dollar in Stable Currency Market
The Pakistani Rupee experienced a slight decline of one paisa against the US Dollar in a range-bound foreign currency market on Wednesday.
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Customs destroys counterfeit products worth Rs120 million
Pakistan Customs took a significant step on Wednesday by destroying a substantial quantity of counterfeit products valued at Rs120 million.
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Customs imposes 10pc fine for releasing unregistered phones
KARACHI – Pakistan Customs has announced the imposition of a 10 percent fine on the total amount of duty and taxes involved for the clearance of unregistered mobile phones.
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Incentives fail to improve textile export
Pakistan’s textile industry, despite benefiting from incentives related to duties and taxes, has failed to achieve significant improvements in exports.
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PSX asks brokers to file suspicious transaction report to FMU
KARACHI – The Pakistan Stock Exchange (PSX) has issued a significant directive, compelling stock brokers to file Suspicious Transaction Reports (STR) with the Financial Monitoring Unit (FMU) as part of efforts to combat money laundering and financing terrorism.
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Salary tax slab of above Rs800,000 to pay Rs2,000 as minimum tax
Islamabad – The Federal Board of Revenue (FBR) has introduced a minimum tax for salary individuals with taxable income exceeding Rs800,000 but not exceeding Rs12,000 for Tax Year 2019.
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