Prime Minister Muhammad Shehbaz Sharif on Friday congratulated the nation on the record increase in foreign remittances in December 2024, saying the claims of those who were chanting to halt the country’s economy have been proven to be baseless. Foreign remittances increased during December 2024 to $3.1 billion compared to November 2024, recording a monthly … Read more
The International Monetary Fund has rejected a formal request from Pakistan’s Ministry of Energy to reduce sales tax on electricity bills, citing liabilities under the existing loan programme, Express News reported. The decision deals a blow to the government’s efforts to ease financial pressures on consumers. The Ministry of Energy had requested IMF approval to … Read more
The Appellate Tribunal of Inland Revenue (ATIR) in Islamabad has dismissed an appeal filed by an overseas Pakistani over the use of electronically scanned signatures on the affidavit and appeal documents. The two-member First Division panel of ATIR issued the decision in favor of the Federal Board of Revenue (FBR), raising concerns among tax professionals … Read more
The Appellate Body of the Securities and Exchange Commission of Pakistan (SECP) has dismissed the appeals filed by United Insurance Pakistan Limited and SPI Insurance Limited, which have now been fully merged into United Insurance. The appeals challenged the SEC’s guidance regarding the collection of insurance security and the subsequent penalty for noncompliance. The first … Read more
The Quetta district administration rejected the PTI’s request to hold a public rally on Saturday, despite an alleged court order in favor of the rally. The decision is due to ongoing security concerns in the region. Rejection of assembly request PTI had planned to hold a public rally at the hockey stadium in Quetta and … Read more
This photo released on March 3, 2022, shows the FBR building. —Facebook/Federal Board of Revenue The Federal Board of Revenue (FBR) has denied media reports claiming that the International Monetary Fund (IMF) rejected the top tax collection body’s request to review the tax target during a recent virtual meeting. “It is unfortunate to note that … Read more