Tag: fy2022
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FBR collects highest-ever tax of Rs6 trillion in FY22
The Federal Board of Revenue (FBR) achieved a significant feat by collecting a record Rs6,000 billion in revenue during the previous fiscal year 2021–2022. The FBR reported that during the current fiscal year, it collected Rs2,205 billion in income tax, Rs2,773 billion in sales tax, and Rs1,007 billion in customs duty. The organisation in charge…
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State Bank of Pakistan hikes interest rate to 12.25% in an emergency meeting
Following an emergency meeting, the State Bank of Pakistan (SBP) raised interest rates by 250 basis points, as mounting political uncertainty and rising worldwide oil prices threaten to drive the country into a full-fledged economic catastrophe. The key rate is now 12.25 per cent, as per the latest statement released by the central bank on Thursday.…