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KARACHI: In a significant economic development, the State Bank of Pakistan’s (SBP) foreign exchange reserves surged by $5 billion, reaching $14.51 billion at the close of fiscal year 2024-25 (FY25), surpassing the IMF’s target of $13.9 billion. Economists attributed this achievement to the coordinated efforts of the SBP and the
ISLAMABAD: The federal government is preparing to withdraw several incentives previously offered to overseas Pakistanis for sending remittances through official channels, according to sources cited by Business Recorder. During a briefing to the Economic Coordination Committee (ECC) on June 27, 2025, the Finance Division highlighted that five remittance incentive initiatives
KARACHI: In a major boost to the country’s foreign exchange inflows, exchange companies have welcomed their inclusion in the Pakistan Remittance Initiative’s (PRI) TT Charges Reimbursement Scheme, terming it a game-changer move that could potentially double home remittances from $4 billion to $8 billion during the current fiscal year. Chairman
ISLAMABAD: The Federal Board of Revenue (FBR) has totally abolished Additional Customs Duty (ACD) on the import of goods falling under the customs duty slabs of zero percent, 5 percent and 10 percent from July 1, 2025. From July 1, 2025, the FBR has also reduced Regulatory Duty (RD) on
