Daily news:10th June 2020

Good Morning The federal government is planning to set Rs4.95 trillion as revenue collection target for the Federal Board of Revenue (FBR) for 2020-2021. Sources told Business Recorder that the revenue collection target of the FBR was projected at Rs5.101 trillion for 2020-2021 against pre-Covid19 projection of Rs6.138 trillion for the next fiscal year. While projecting… Continue reading Daily news:10th June 2020

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Daily news: 9th June 2020

Good Morning The World Bank (WB) has massively revised downward the GDP growth rate projection for Pakistan by five percent to negative 2.6 percent from 2.4 percent for the outgoing fiscal year 2019-2020. Petroleum Division on Monday constituted a seven-member committee to ascertain the element of hoarding and black marketing as well as verify the… Continue reading Daily news: 9th June 2020

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Daily news: 8th June 2020

Good Morning All focus will be on the upcoming budget, which is expected to be announced this Friday. The budget will likely aim to mitigate the economic losses caused by the COVID-19 pandemic by proving support packages to key industries. The central government has continuously re-enforced that the budget will not introduce any new taxation… Continue reading Daily news: 8th June 2020

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Daily news: 5th June 2020

Good Morning The country’s total foreign exchange reserves fell $1.818 billion to $16.920 billion in May from $18.738 billion in April, a statement issued by the central bank said on Thursday. The forex reserves held by commercial banks rose to $6.558 billion from $6.409 billion. The country’s exports on year-on-year (YoY) basis have witnessed a decline… Continue reading Daily news: 5th June 2020

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Daily news: 4th June 2020

Good Morning Finance ministers from the Group of Seven nations on Wednesday underscored their commitment to implementing official bilateral debt relief for the world’s poorest countries through year-end and possibly longer as they deal with the coronavirus pandemic. The State Bank of Pakistan (SBP) has reported that the government raised Rs146.5 billion through T-bills, against… Continue reading Daily news: 4th June 2020

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Daily news: 3rd June 2020

Good Morning With no signs of coronavirus pandemic going away anytime soon, Pakistan on Tuesday reported a record number of 3,938 new coronavirus cases with 79 deaths over the last 24 hours. The government on Tuesday trimmed profit rates on all savings schemes and accounts of the Central Directorate of National Savings (CDNS) for the fourth… Continue reading Daily news: 3rd June 2020

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Daily news: 2nd June 2020

Good Morning The inflation rate eased for the fourth successive month and stood at 8.2% in May 2020 despite a seasonal spike in prices of essential food items, Pakistan Bureau of Statistics (PBS) reported on Monday. While directing preparation of combating corona budget for 2020-21, Prime Minister Imran Khan has assigned Adviser to PM on Finance… Continue reading Daily news: 2nd June 2020

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Daily news:1st June 2020

Good Morning Amid whopping fiscal losses faced by Pakistan so far escalating to $14 billion after outbreak of deadly coronavirus, Pakistan’s fiscal deficit is projected to be in the range of 8 to 17 percent of GDP in the upcoming fiscal year depending upon the duration of lockdown period. The tax collection by the Federal… Continue reading Daily news:1st June 2020

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Daily news: 29th May 2020

Good Morning The country’s total liquid foreign exchange reserves declined by $20 million during last week. According to the State Bank of Pakistan (SBP), total liquid foreign exchange reserves stood at $18.598 billion as on May 21, 2020 compared to $18.618 billion on May 15, 2020. The State Bank of Pakistan (SBP) raised Rs169 billion… Continue reading Daily news: 29th May 2020

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Daily news: 28th May 2020

Good Morning Foreign investors opted to pull out their investment from Pakistan equity market due to their concerns over deadly coronavirus and slowing economic activities. The offshore investors withdrew $37.497 million from the equity market during May 2020 as compared to an inflow of over $22.920 million in the same month last year. Special Assistant to… Continue reading Daily news: 28th May 2020

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