The Federal Board of Revenue (FBR) collected Rs2.688 trillion in the first five months of the current fiscal year, exceeding the target set for the period by just Rs8 billion, showed provisional data released on Thursday. Meanwhile, the last date for the filing of income tax returns was extended until Dec 15. The revenue collection posted a growth of 15.3 per cent in 5MFY23 against Rs2.330tr
With the release of $500 million by the Asian Infrastructure Investment Bank (AIIB) for Pakistan, the stock market rebounded and made some recovery on Tuesday following a sharp fall a day ago as the muchneeded inflows would provide cushion against the fast dwindling foreign currency reserves of the country. In a tweet, Finance Minister Ishaq Dar announced that Pakistan had received $500 million
In the absence of quality mass transportation services, Pakistan has come out on top as the biggest user of ride hailing service Careem, as the company announced its landmark one billion rides breakdown. The one billion ride record is stretched across the Middle East, North Africa and Pakistan, based on trips, driven over nine billion kilometres across more than 80 cities over ten years. The
The government on Monday entered into petroleum concession agreements and awarded exploration licences to energy firms that would make a minimum investment of $65 million in the first three years of exploration activities to tap new oil and gas reserves. The move comes at a time when the country is facing oil and gas scarcity due to the Russia-Ukraine war. Pakistan is encountering a crisis-l
Consumers of diesel are not likely to see any relief from the government as it may decide to increase the rate of the petroleum levy (PL) from December 1, 2022. Finance Minister Ishaq Dar is also expected to maintain the existing oil prices for the first two weeks of December 2022. With the recent increase in PL on petrol and HighOctane Blending Component (HOBC), to the budgeted level of Rs50 per