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Urged Pakistani investors to investigate the Omani market
Urged Pakistani investors to investigate the Omani market. It was reported that despite stronger ties, Oman’s consul general, Sami Abdullah Salim AlKhanjari, stated that Pakistan’s investment in Oman is weak.
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FTO requests that FBR fix issues with real estate valuation.
FTO requests that FBR fix issues with real estate valuation. It was reported that the Federal Tax Ombudsman encouraged FBR to continue to be watchful regarding current market prices in the real estate industry and periodically evaluate all of the property rates in the Bahawalpur region when its examination was complete. The FTO looked into…
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Iran is prepared to request the restart of FTA negotiations.
Iran is prepared to request the restart of FTA negotiations. It was reported that as both nations are closely coordinating on a Five Year Strategic Trade Cooperation Plan (FYSTCP) to increase their bilateral trade to $5 billion annually, Iran is prepared to formally invite Pakistan to resume negotiations on a Free Trade Agreement (FTA).
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Active Taxpayers in Pakistan Increase to 4.22 Million
Active Taxpayers in Pakistan Increase to 4.22 Million. It was reported that with 4.22 million active taxpayers, Pakistan’s Active Taxpayers List (ATL) has reached a critical milestone. Following the implementation of the cash withdrawal restrictions on July 1, 2023, this significant growth took place.
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Pakistan to implement a Riba-Free Banking System
Significant Steps Are Being Taken by Pakistan towards the Implementation of a Riba-Free Banking System. It was reported that The State Bank of Pakistan strives to create a financial system that complies with Sharia law.
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Pakistan requests China’s $1.3 billion in loans be refinanced quickly
Pakistan requests China’s $1.3 billion in loans be refinanced quickly. It was reported that Cash-strapped Pakistan has urged its staunch friend China to expedite the refinancing of $1.3 billion in expiring commercial loans and informed them of the dimming chances of the renewal of the IMF loan program.
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Budget 2023–24: Imported secondhand cars with engines larger than 1,300cc will cost more
Budget 2023–24: Imported secondhand cars with engines larger than 1,300cc will cost more. It was reported that the government has removed the upper limit on fixed tariffs and taxes that applied to the import of used and older vehicles of “Asian Makes” that were over 1,300 CC. The change, according to a representative of the…
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Pakistan chooses to do barter trade with Russia, Iran, and Afghanistan
Pakistan chooses to do barter trade with Russia, Iran, and Afghanistan. It was reported that the Ministry of Commerce announced on Friday that Pakistan has passed a special order allowing barter trading for specific items, including gas and oil, with Russia, Iran, and Afghanistan.
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FBR falls short of its FY23 tax goal.
FBR falls short of its FY23 tax goal. It was reported that the details indicate that FBR has collected Rs 572 billion in net revenue as opposed to the Rs 621 billion goal set for May 2023. In total, FBR has collected Rs 6213 billion in the first eleven months of the current fiscal year,…
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Pakistan and Russia will have a direct shipping connection
From the following week, Pakistan and Russia will have a direct shipping connection. It was reported that a spokesman of a shipping agency said on Friday that Pakistan is prepared to welcome the first container ship directly from Russia at the Karachi harbor the next week, opening the door for quick and direct access for…
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In April 2023, Pakistan’s petroleum sales fell by 47%.
In April 2023, Pakistan’s petroleum sales fell by 47%. It was reported that a total of 1.2 million tonnes of petroleum products were sold in Pakistan in April 2023, a 47% YoY decline and a 6% MoM rise. Low sales of furnace oil and high speed diesel, which fell by 84% year over year and…
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Trade deficit decreases by 39.62% to $23.71 billion over the July-April FY23
The trade deficit decreases by 39.62% to $23.71 billion over the July-April FY23 period. It was reported that the trade figures issued by PBS on Tuesday, the nation’s exports between July and April of 2022–23 were $ 23.174 billion, down from $ 26.247 billion between July and April of 2021–22. This represents a loss of…
