Karachi, November 11, 2023 – The fiscal landscape of Pakistan has witnessed a remarkable surge, with tax collection from profit on debt skyrocketing by an impressive 103 percent, propelled by the prevailing high-interest rates, according to an official report.
(more…)Tag: State Bank of Pakistan
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State Bank of Pakistan Sheds Light on Key Tax Measures Introduced in FY23
Karachi, November 11, 2023 – The State Bank of Pakistan (SBP) has shed light on pivotal tax measures unveiled in the fiscal year 2022-23, emphasizing the transformative impact of these initiatives on the economic landscape.
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Foreign Exchange Reserves Surge by $37 Million, Marking Positive Trend
Karachi, November 10, 2023 – Foreign exchange reserves of Pakistan have witnessed a positive upturn, increasing by $37 million to reach $12.61 billion by the week ended November 3, 2023, as per official data released by the State Bank of Pakistan (SBP) on Friday.
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Pakistan Records 26% YoY Growth in Total Debt in 1QFY24
Karachi, November 10, 2023 – Pakistan has experienced a significant uptick of 26 percent in its total debt during the first quarter (July – September) of the current fiscal year 2023-24, as revealed by official data released on Friday.
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State Bank of Pakistan Issues Foreign Currency Rates on November 10, 2023
Karachi, November 10, 2023: The State Bank of Pakistan (SBP) on Friday issued foreign currency rates for November 10, 2023.
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Bank Deposits in Pakistan Hit New Peak at Rs 26.40 Trillion
Karachi, November 10, 2023 – Bank deposits in Pakistan have hit new peak at Rs 26.40 trillion by the end of October 2023, according to official data released on Friday by the State Bank of Pakistan (SBP).
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Pakistan Experiences 11.54% Surge in Foreign Remittances Amidst Crackdown on Smuggling
Karachi, November 10, 2023 –Pakistan has recorded a substantial 11.54% increase in foreign remittances, reaching $2.46 billion in October 2023. This surge, as reported by the State Bank of Pakistan (SBP) on Friday, is attributed to the government’s robust crackdown against currency smuggling and hoarding.
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SBP Orders Banks to Close Branches in Smog-Affected Punjab
Karachi, November 8, 2023 – In response to the Punjab government’s public holiday declaration on Friday, November 10, 2023, due to the severe smog situation, the State Bank of Pakistan (SBP) has directed all commercial banks and microfinance institutions (MFIs) to close their branches in affected areas of the province.
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State Bank of Pakistan Issues Foreign Currency Rates on November 08, 2023
Karachi, November 08, 2023: The State Bank of Pakistan (SBP) on Wednesday issued foreign currency rates for November 08, 2023.
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Unclaimed Prize Bonds Worth Rs 5 Billion Linger Despite Deadline Extension
Karachi, November 8, 2023 – In a startling revelation, official data from the State Bank of Pakistan (SBP) has shown that discontinued bearer prize bonds worth a staggering Rs 5 billion remain unclaimed as of September 30, 2023.
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