Business News
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KSE-100 index leads as Asia’s best-performing market | The Express Tribune
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[ad_1] Despite prevailing economic crises, Pakistan’s stock market has shown resilience by emerging as the best-performing market in Asia in 2024, according to Bloomberg. The KSE-100 index reflected a 27% increase in dollar terms this year, with experts anticipating further gains. Strategists attribute the market’s strong performance to its cheap valuations, high positive real rates,…
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GB presents Rs1.402 trillion budget for upcoming fiscal year
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[ad_1] A file view of a session of the Gilgit-Baltistan Assembly. — Radio Pakistan/File GIlGIT: The Gilgit-Baltistan government has proposed a Rs1.402 trillion budget with a Rs19.07 billion subsidy for wheat in the upcoming fiscal year 2024-25. Presenting the budget in the provincial assembly, GB Finance Minister Engineer Ismail said that an amount of Rs86.6 billion…
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Govt cuts proposed PSDP down to size | The Express Tribune
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[ad_1] ISLAMABAD: Hours before its approval by the National Assembly, the government has decided to cut the proposed Public Sector Development Programme (PSDP) of Rs1.4 trillion by Rs250 billion in a bid to create fiscal space for withdrawing some taxes without jeopardising the expected International Monetary Fund (IMF) deal. Government sources told The Express Tribune…
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Shehzad Roy urges PM Shehbaz to retract sales tax on books
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[ad_1] Renowned singer and humanitarian Shehzad Roy. — UNODC/File Renowned singer and humanitarian Shehzad Roy has requested the Pakistan Muslim League-Nawaz (PML-N)-led government to retract the 10% sales tax imposed on books in the Budget 2024-25. In a X post on Monday, the philanthropist informed that he spoke with Prime Minister Shehbaz Sharif and Planning Minister…
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PSO to fund $1.5-2 billion investment with debt | The Express Tribune
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[ad_1] KARACHI: Pakistan State Oil (PSO) has announced plans to raise foreign debt to finance a significant portion of its planned $1.5-2 billion investment in Pakistan Refinery Limited (PRL). Meanwhile, its receivables have surged to Rs810 billion, largely due to circular debt, including late payment surcharges. At an analyst briefing on the financial accounts for…
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LPG jacked up by Rs50 per KG | The Express Tribune
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[ad_1] The price of liquefied petroleum gas (LPG) has increased by Rs50 per kilogramme, according to Irfan Khokhar, Chairman of the LPG Distributors Association. Khokhar accused LPG marketing companies and plant operators of defying government-set prices and selling LPG at inflated rates. He stated that the black marketing by LPG companies is rampant, with no…
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The elephant in the room | The Express Tribune
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[ad_1] ISLAMABAD: It’s been about 14 to 15 years since the 18th Constitutional Amendment and the preceding 7th NFC Award; both have now come of age. The amendment resulted in many good outcomes, through its 102 amendments. However, two (out of the 100-plus amendments), which govern the division of revenues between provinces and the federation,…
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Retail sector advocates sustainable tax policies | The Express Tribune
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[ad_1] ISLAMABAD: In a crucial meeting with the Senate finance committee, representatives of the Pakistan Retail Business Council (PRBC) presented their point of view against the proposed increase in sales tax from 15% to 18% on Point of Sales (POS)-connected retailers. The plea was compelling enough that it not only won the consensus of all…
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Diplomat Club urges tech firms to join digital revolution | The Express Tribune
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[ad_1] ISLAMABAD: President of the Diplomat Business Club and former ambassador, Javed Malik, urged Pakistani tech businesses on Saturday to become a part of the digital revolution that is transforming the global business landscape. He made these remarks while addressing the Global Business Forum 2024 in Dubai, UAE, which brought together delegates from over 30…
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IMF welcomes govt’s tough measures | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has welcomed the federal government’s strict policy measures proposed in the upcoming federal budget during virtual talks with the government authorities with regard to the next bailout package. According to official sources, there has been progress in the talks between Pakistan and the IMF. The Fund, they said,…
