Decline comes in wake of renewed regional instability after US launched airstrikes on Iranian nuclear facilities The Pakistan Stock Exchange (PSX) began the week in the red, with the benchmark KSE-100 Index shedding 1,991.52 points, or 1.66 per cent, at the opening bell on Monday amid growing geopolitical uncertainty. The index opened at 118,031.71, continuing…
Minister of State assured that petroleum reserves are currently adequate National Assembly’s Standing Committee on Finance has approved the government’s decision to impose an additional Rs36 billion in new taxes under the proposed finance bill. The decision came after extensive discussions with the government’s economic team, despite opposition from some committee members. The economic team…
When updated Finance Bill for 2025-2026 is approved by parliament, three additional taxes to be included in it ISLAMABAD: In order to generate Rs36 billion in revenue and overcome the gap left by a 10% pay increase and a decrease in the general sales tax (GST) on solar panels, the government has proposed three additional…
Revenue up in 5 years against 18% in previous decade; questions remain on sustainability KARACHI: Owing to massive inflation-driven increases in nominal collections, sharp currency depreciation, and a greater reliance on indirect taxes, the Federal Board of Revenue (FBR) has achieved its annual revenue growth rise from an average of 18% over the past decade…
Ties tax benefits to one-year minimum retention as rupee weakens ISLAMABAD: As the local currency comes under renewed stress, the State Bank of Pakistan (SBP) on Saturday proposed linking tax benefits with a minimum one-year retention period for foreign investments in government debt and equity markets to bring predictability in outflows. Dr Mohammad Ali Malik,…
KARACHI: Auto financing continued its upward trajectory for the sixth consecutive month, reaching Rs271.2bn at the end of May, up from Rs263.3bn in April, supported by a notable decline in interest rates. However, the figure remains well below its peak of Rs368bn recorded in June 2022. The reduction in the policy rate to 11pc from…
KARACHI: A growing shortage of dollars in the interbank market has unsettled the exchange rate, prompting banks to offer higher-than-official rates to attract remittances, while importers are forced to pay a premium for greenbacks. Despite healthy inflows, the recent geopolitical shocks — including the Iran-Israel conflict and a brief four-day skirmish between Pakistan and India — have shaken confidence…
• Standing committee recommends 50pc raise in govt employees’ pay, 20pc increase in pension• Tax exemptions sought for individuals earning Rs1.2m annually ISLAMABAD: As the government struggles to balance its revenue and expenses, the Senate Standing Committee on Finance and Revenue has recommended a 50 per cent increase in government employees’ salaries, raise in pensions,…
QUETTA: Opposition members staged a walkout from the post-budget debate session of the Balochistan Assembly on Saturday to protest the removal of the Jhalawan Medical College Khuzdar project from the Public Sector Development Programme (PSDP) in the budget for financial year 2025-26. In his speech, opposition leader Younis Aziz Zehri of the JUI-F demanded that the college…
• Rules initiation of criminal proceedings unlawful without investigative audit and show-cause notice• Says taxes should be imposed reasonably and without discrimination ISLAMABAD: The Supreme Court on Saturday barred the Federal Board of Revenue (FBR) from arresting or initiating criminal prosecution to recover tax due from defaulters without prior determination of their tax liability. “We have no…
