Business News
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APNS, PBA reject tax amendment impacting advertising expenses
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[ad_1] A representational image of taxes. — AFP/File Citing its detrimental economic impact on the media industry, the All Pakistan Newspapers Society (APNS) and Pakistan Broadcasters on SaturdayAssociation (PBA) appealed to the government to retract the proposed amendment in the Finance Bill 2024-25 that restricts the deduction of sales promotion and advertising expenses. In separate…
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New tax on over 200 medical instruments set to drive up healthcare costs | The Express Tribune
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[ad_1] KARACHI: Federal government has imposed a sales tax on over 200 medical devices, including angiography and angioplasty equipment, as well as diagnostic kits for various diseases. The move, part of the 2024-25 fiscal budget, is expected to significantly impact the affordability of healthcare for poor patients. Experts warn that the first ever sales tax…
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Balochistan presents Rs930bn budget 2024-25
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[ad_1] Balochistan Assembly seen in this undated image. — APP The Balochistan government on Friday presented its annual budget of Rs930 billion for the upcoming fiscal year 2024-25, with a surplus of Rs25 billion and special focus on education and health sectors. Balochistan Finance Minister Mir Shoaib Noshirwani tabled the Finance Bill 2025 on the…
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Exporters demand restoration of fixed tax regime to remain competitive
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[ad_1] This picture shows a general view of the seaport in Karachi. — AFP/File To stay competitive in world markets, exporters have strongly opposed the shift of taxation on turnover from a fixed to a normal regime as the government presses ahead with its efforts to increase revenue through various taxes introduced in the upcoming…
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High taxes on EVs contradictory to govt’s policies: Ministry
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[ad_1] A representational of an electric car. — Reuters/File ISLAMABAD: The Ministry of Industries and Production has sought reversal of a proposed hike in sales tax on electric and hybrid vehicles in the new budget, saying that the increase in tax is violation of government’s policies aimed at promoting new technologies. In a letter written…
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Current account deficit reaches $464m in 11 Months: SBP | The Express Tribune
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[ad_1] The current account deficit for the first eleven months of this fiscal year stood at $464 million, according to the State Bank of Pakistan (SBP). The SBP’s recently released data indicates that the current account deficit for the initial eleven months of this fiscal year was significantly lower compared to the same period last…
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Chinese minister urges closer between institutions of both countries to achieve development goals | The Express Tribune
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[ad_1] ISLAMABAD: China’s Minister of Central Committee of the International Department of Communist Party of China (IDCPC), Liu Jianchao emphasised the need for cooperation between Chinese and Pakistani institutions and political parties to achieve development goals. The senior Chinese minister conveyed these views during a meeting with Deputy Prime Minister and Foreign Minister Mohammad Ishaq…
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PSX touches 80,000 mark on IMF deal hopes
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[ad_1] A trader is busy on call as resumes business at the Pakistan Stock Exchange (PSX) building in Karachi. — PPI/Files KARACHI: Stocks hit yet another millstone on Friday amid optimism surrounding Pakistan’s prospects of securing a longer International Monetary Fund (IMF) programme. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 shares index touched the 80,000 mark…
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Govt’s stats, economic survey ‘based on lies’, PTI on federal budget
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[ad_1] Opposition Leader Omar Ayub Khan is addressing the National Assembly session on June 20, 2024. — Screengrab/YouTube/GeoNews ISLAMABAD: PTI Secretary-General and Leader of the Opposition in the National Assembly Omar Ayub Khan has slammed the budget 2024-25 unveiled by the federal government last week, saying that all figures and economic surveys are “based on…
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PSX stages its fourth largest one-day surge on IMF bailout bets
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[ad_1] Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, on July 3, 2023. — Reuters The Pakistan Stock Exchange (PSX) extended its post-budget rally, reaching yet another record high on Thursday, mainly fueled by Fitch Ratings’ optimism for Pakistan’s likelihood of securing…
