News & Updates

News Update

20

Jun 2024

Jun 20, 2024 • 5 min read

Senate Body Directs FBR to Revisit Policy on Punishing Telcos For Its Non-Filer Issue

The Federal Board of Revenue (FBR) has been ordered to create a structured penalty table for non-filers and to revisit i...

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News Update

19

Jun 2024

Jun 19, 2024 • 5 min read

Nvidia Beats Apple, Microsoft to Become Most Valuable Company On Earth

Nvidia has become the most valuable company on earth after it surpassed Apple ($3.32 trillion) and Microsoft ($3.28 tril...

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News Update

19

Jun 2024

Jun 19, 2024 • 5 min read

Compared to India, Next Fiscal Year Will Be A Nightmare for Pakistani Farmers

India is leveraging cutting-edge technology to support its farmers compared to Pakistan’s neglect of its agricultural se...

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News Update

19

Jun 2024

Jun 19, 2024 • 5 min read

Pakistan’s Tax-to-GDP Ratio Likely to Hit 7-Year High Next Fiscal Year

Pakistan’s tax-to-GDP ratio (including petroleum development levy) in tax revenues is projected to reach 11.5 percent in...

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News Update

19

Jun 2024

Jun 19, 2024 • 5 min read

Budget FY25 Boosts Chances of New IMF Program Despite Issues: Fitch Ratings

Pakistan’s ambitious FY2024-25 budget strengthens prospects for an IMF deal, Fitch Ratings said in a report on Tuesday....

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News Update

18

Jun 2024

Jun 18, 2024 • 5 min read

Pakistan Is The Most Financially Attractive IT Outsourcing Destination in the World: Report

Pakistan is the most financially attractive IT&ITeS outsourcing destination in the world, the Economic Survey 2023-24 re...

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News Update

18

Jun 2024

Jun 18, 2024 • 5 min read

Pakistan’s Per Capita Income Rises to $1,680 in FY24

Pakistan’s per capita income in US dollars has surged to $1,680 in the outgoing fiscal year 2023-24 (FY24), up by 8 perc...

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News Update

18

Jun 2024

Jun 18, 2024 • 5 min read

Relief to Salaried Class Impossible When Govt Institutions Are Operating At A Loss: Aurangzeb

Finance Minister Muhammad Aurangzeb on Tuesday said the federal government was finding it very hard to give relief to th...

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News Update

18

Jun 2024

Jun 18, 2024 • 5 min read

Rice Production Hits Record High in 11 Months of FY24

Pakistan’s rice production was recorded at 9.9 million tons in the eleven months that ended on May 31, 2024 (11MFY24), d...

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News Update

18

Jun 2024

Jun 18, 2024 • 5 min read

Pakistan’s Tax Revenue Likely to Increase by 40% in Upcoming Fiscal Year

Pakistan’s tax growth (including petroleum development levy) is projected to reach 40 percent for fiscal year 2024-25 co...

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News Update

18

Jun 2024

Jun 18, 2024 • 5 min read

Planning Ministry Unveils National Economic Transformation Unit For PSDP 2024-25

The Ministry of Planning and Development, under the leadership of Minister Ahsan Iqbal, has announced the establishment...

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News Update

17

Jun 2024

Jun 17, 2024 • 5 min read

Fertilizer Industry Received Tax Exemptions Worth Rs. 252.6 Billion in FY23

The fertilizer sector benefited greatly from sales tax exemptions worth Rs. 252.60 billion in the fiscal year 2022-23, a...

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News Update

17

Jun 2024

Jun 17, 2024 • 5 min read

FBR Forms Committees to Rectify Mistakes in Finance Bill 2024

The Federal Board of Revenue (FBR) has constituted two Anomaly Committees to rectify errors created by the FBR in Financ...

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News Update

17

Jun 2024

Jun 17, 2024 • 5 min read

FBR Extends Deadline For Filing of Sales Tax, FED Returns

The Federal Board of Revenue (FBR) has extended the date of payment and submission of Sales Tax and Federal Excise Retur...

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News Update

17

Jun 2024

Jun 17, 2024 • 5 min read

SECP Warns Against Fraudulent Car Financing Scheme By Deceitful Company

The Securities & Exchange Commission of Pakistan (SECP) has taken cognizance of an unincorporated entity by the name of...

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News Update

17

Jun 2024

Jun 17, 2024 • 5 min read

Will Petrol Price Rise Above Rs. 300 Per Liter in Pakistan Soon?

MS petrol has long been a big gossip point for everyone since it nearly doubled in rates two years ago. Last week’s budg...

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News Update

17

Jun 2024

Jun 17, 2024 • 5 min read

World Bank Approves $150 Million For Education Project in Punjab

The World Bank’s Board of Executive Directors approved $150 million for a project to increase the participation rates of...

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News Update

16

Jun 2024

Jun 16, 2024 • 5 min read

Senate Panel Proposes More Strict Penalties For Late Filers

The Senate Standing Committee on Finance and Revenue convened for its 5th session to study the provisions of the Income...

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News Update

16

Jun 2024

Jun 16, 2024 • 5 min read

Sindh Govt Increases Sales Tax to 15%

The Sindh government has raised the provincial sales tax on services to 15 percent, effective July 1. The expected reven...

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News Update

16

Jun 2024

Jun 16, 2024 • 5 min read

Suki Kinari Hydropower Station Begins Wet Testing, Moves Closer to Operation

On June 16, 2024, the first unit (Unit 4) of Pakistan Suki Kinari Hydropower Station, the largest hydropower power stati...

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News Update

16

Jun 2024

Jun 16, 2024 • 5 min read

Govt Shouldn’t Hold Us Hostage For Its Non-Filer Issue: Telecom Industry

The Telecom Operators Association has expressed serious concerns over the coalition government’s budget proposals for 20...

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