Karachi, October 18, 2024 – In a striking revelation, the State Bank of Pakistan (SBP) has shed light on the alarming state of Pakistan’s C-Efficiency Ratio (CER) and the effective General Sales Tax (GST) rate during the fiscal year 2023-24. The SBP’s findings underscore critical challenges in the country’s tax enforcement and base expansion, painting a concerning picture for policymakers.
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SBP Suggests Measures to Boost Pakistan’s Tax-to-GDP Ratio
Karachi, October 17, 2024 – The State Bank of Pakistan (SBP) on Thursday proposed a series of tax reforms aimed at significantly increasing the country’s tax-to-GDP ratio, which has stagnated at approximately 10% for the last two and a half decades.
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Pakistan’s Weekly Forex Reserves Increase by $64 Million
Karachi, October 17, 2024 – In a positive turn for Pakistan’s economic stability, the country’s net foreign exchange (forex) reserves saw a modest uptick of $64 million by the week ending October 10, 2024, as reported by the State Bank of Pakistan (SBP) on Thursday.
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SBP Projects GDP Growth at 3.5% for FY25, Slightly Below Target
Karachi, October 17, 2024 – The State Bank of Pakistan (SBP) has projected the country’s gross domestic product (GDP) growth at 3.5% for the fiscal year 2024-25, just shy of the government’s target of 3.6%.
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SBP Issues Foreign Exchange Rates for October 17, 2024
Today, October 17, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Issues Foreign Exchange Rates for October 16, 2024
Today, October 16, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Issues Foreign Exchange Rates for October 15, 2024
Today, October 15, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Issues Foreign Exchange Rates for October 14, 2024
Today, October 14, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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SBP Launches Challenge Fund to Boost SME Financing
Karachi, October 14, 2024 – The State Bank of Pakistan (SBP) has introduced a new challenge fund aimed at improving access to finance for small and medium-sized enterprises (SMEs).
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SBP Issues Foreign Exchange Rates for October 11, 2024
Today, October 11, 2024, the State Bank of Pakistan (SBP) disclosed the foreign exchange rates for customers, establishing a vital reference point for cross-border transactions.
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