The Intelligence and Investigative Department of the Federal Board of Revenue (FBR) has detained five people engaged in the issue of fake and flying invoices, which caused billions of rupees in losses to the national exchequer. The top tax authority has intensified its crackdown on the organised mafia and beneficiaries involved in sales tax fraud in accordance with the FBR’s enforcement initiat
Pakistan Stock Exchange (PSX) made a marginal recovery in late trading on Friday as it crept up 30 points due to a strong earnings outlook for banking and auto sectors. Earlier, trading got off to a positive start, with the KSE-100 index reaching its intra-day high of 85,750.18 points. However, the early momentum petered out as the index slipped below the 85,000 mark, hitting the intra-day low
In contrast, silver prices remained stable in Pakistan, with no change in the price per tola, which stayed at Rs3,050. Similarly, the price for 10 grams of silver remained unchanged at Rs2,614.88. In the international bullion market, the price of gold surged by $16 per ounce, bringing the new global rate to $2,656 per ounce. Yesterday, the price of gold per tola surged by Rs2,700, reaching R
The economic freedom is the freedom available to the private citizens of a country to undertake businesses, and freedom to grow these businesses, including freedom to do trade domestically and internationally. While apparently we have this freedom (you can register a new business in a single day today, register with the Federal Board of Revenue (FBR) and open a bank account in a week and be in
The recent trends in economic activity, particularly the inflation rate, inspire optimism about Pakistan's economic conditions. The inflation rate has dropped to its lowest level in nearly four years, while the trade deficit remains stable at around $5.4 billion in the first quarter of the fiscal year. Exports, standing at $5 billion, have increased by almost 15%, and imports have risen by 7% in t