FBR Fails to Meet October 2024 Tax Revenue Target
Islamabad: The Federal Board of Revenue (FBR) has missed its October 2024 tax revenue target.
Gas suspension to CPPs under IMF’s agreement to trigger widespread closure of industries, warns Bilwani
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Muhammad Jawed Bilwani, while expressing sheer dismay over the government’s decision to suspend gas supply to Captive Power Plants (CPPs) by…
FBR extends deadline for filing income tax returns till October 14th
KARACHI: The Federal Bureau of Revenue (FBR) has extended the deadline for submitting tax returns for the financial year 2024 to October 14, a 14-day extension. This extension is in…
SBP has received SDR 760 million (equivalent to US$ 1026.9 million) from IMF
Following the approval of the IMF Executive Board of 37-month Extended Fund Facility amounting to US$7 billion, SBP has received the first tranche of SDR 760 million (equivalent to USD…
Current account surplus likely – can Pakistani currency appreciate?
After experiencing significant depreciation in FY23, the local currency has regained ground over the last four quarters, supported by the IMF Stand-by agreement, contained current account deficit and reduced political…
Review of Overseas Trade Missions’ Performance Underway, Minister of Commerce Jam Kamal Khan Meets with Zubair Tufail
Karachi: Federal Minister for Commerce Jam Kamal Khan assured on behalf of the Ministry of Commerce and the Government of Pakistan that the current government is prioritizing the resolution of…
Celebrating Independence Day with Renewed Resolve: Pakistan’s Fight Against Smuggling
Special Report Independence Day 14 August KARACHI: On August 14, 2024, the people of Pakistan celebrated Independence Day with great zeal and fervor. Amidst the celebrations, Pakistan Customs, under the…
Perturbed business community pressurizes KCCI to call strike, says Iftikhar Sheikh
KARACHI: President Karachi Chamber of Commerce & Industry (KCCI) Iftikhar Ahmed Sheikh has said that only those issues brought forcefully into the limelight either through street protests or strikes receive…
KCCI urges govt to revisit, rationalize anti-business taxation measures, energy tariffs Stop pleasing IMF by compromising exports: Iftikhar Sheikh
KARACHI: Keeping in view the perpetually intensifying hardships being suffered by small traders, industrialists, exporters, salaried class, daily wagers and many other segments due to harsh taxation measures, unbridled discretionary…
Govt urged to revisit numerous budgetary measures
KARACHI: The Karachi Chamber of Commerce & Industry (KCCI), while identifying several anomalies in the Federal Budget 2024, highlighted that the Budget appears to have been prepared in the standard…
Pakistan Budget FY25 – Stock market measures; Positive for market
KARACHI: Contrary to expectations of change in treatment of income from capital gain and dividends to normal tax, affecting net returns of the investors; we believe the budget FY25 is…
FBR tax target doubled Government lays ambitious budget of Rupees 18 trillion with historic deficit Home Grown Reforms Agenda proposed by Nawaz Sharif in 1990 to be followed says Finance Minister Aurangzeb
KARACHI: The federal government lead by Pakistan Muslim League (N) laid a budget of 18.88 trillion Rupees with a deficit of Rupees 9 trillion almost half of the total budget.…
SBP Releases Half Year Report on The State of Pakistan’s Economy
Pakistan’s macroeconomic conditions improved during H1-FY24, according to the State of Pakistan’s Economy Report for H1-FY24 released today by the State Bank of Pakistan (SBP). The Report contains the analysis…
IMF Resident Representative meets CCP Chairman
ISLAMABAD: Ms. Esther Pérez Ruiz, the IMF Resident Representative in Pakistan, visited the Competition Commission of Pakistan (CCP) and met with Dr. Kabir Ahmed Sidhu, Chairman CCP, to discuss matters…
IMF Concludes SBA Review, Sets Stage for New Economic Program in Pakistan
KARACHI: International Monetary Fund (IMF) has announced the successful completion of the second and final review under the Stand-By Arrangement (SBA) with Pakistan, signaling the readiness for a new phase…
Caretaker Government defends FBR restructuring plan against IRS petition
ISLAMABAD: The Cabinet Division of the Government of Pakistan has filed a reply in the Islamabad High Court (IHC) against a petition filed by the Inland Revenue Service (IRS) challenging…
Monetary Policy Statement December 12, 2023
1. At its meeting today, the Monetary Policy Committee (MPC) decided to maintain the policy rate at 22 percent. The decision does take into account the impact of the recent…
Governor SBP addresses international investors about Pakistan’s economy
Governor State Bank of Pakistan (SBP), Mr. Jameel Ahmad, met key international investors during events organized by global banks, including Barclays, JP Morgan, Standard Bank, and Jefferies on the sidelines…
Pakistan Businesses Fear Default Still Imminent, Gallup Survey
Karachi: Majority of Pakistan’s businesses are “not hopeful at all” about the ability of caretaker Prime Minister Anwaar-ul-Haq Kakar to save the country from a potential default on its international…
Private sector should be included in the caretaker government for economic strengthening, Malik Khuda Bakhsh
Karachi: Malik Khuda Bakhsh, an expert of petroleum and gas industry and United Business Group (UBG) has said that in the current economic conditions of the country, after the resignation…