Business News
-
FBR chief questioned over increased taxes on vehicles, property
.
[ad_1] Senator Salim Mandviwala chairs a meeting of the Senate Standing Committee on Finance in Islamabad on June 20, 2024. — X/@SenatePakistan ISLAMABAD: Federal Board of Revenue (FBR) Chairman Asim Ahmad Thursday was questioned by senators over the increased taxes on the country’s automobile, property, and other sectors. Lawmakers, who are members of the Senate Standing Committee…
-
PSX hits historic high, surpasses 78,000 milestone | The Express Tribune
.
[ad_1] The Pakistan Stock Exchange (PSX) surged to an all-time high on Thursday as the KSE-100 Index gained over 1.93 percent, reaching 78,213 points at 11:30 am. This rise marked a significant increase from the previous 76,706.77 points last week. The market opened on a positive note following the Eid ul Adha holidays, with the…
-
Bilawal to air budget grievances with PM | The Express Tribune
.
[ad_1] ISLAMABAD/RAWALPINDI: As the upper and lower houses of parliament commence debates on the federal budget for the fiscal year 2024-25 today (Thursday), tensions are running high within the ruling coalition. The Pakistan Peoples Party (PPP), a key ally, remains at odds with the Pakistan Muslim League-Nawaz (PML-N) over grievances regarding the money bill both…
-
Bottled water boom exploits thirst for clean water | The Express Tribune
.
[ad_1] KARACHI: Pakistan’s ongoing quest for pure drinking water has fuelled a powerful informal bottled water market. There has been an extraordinary hike in prices across various bottled water brands in the domestic market, with rates increasing nearly 150%. In 2023, the undocumented bottled water industry capitalised on health concerns, leading to significant price hikes.…
-
Pakistan’s inflation to decline in FY25: Fitch
.
[ad_1] The headquarters of Fitch Ratings Ltd. stands in the Canary Wharf business and shopping district in London, UK. — AFP As Pakistan prepares to enter a new International Monetary Fund (IMF) programme, Fitch Ratings has predicted a drop in inflation and interest costs in the country during FY25. The rating agency, in its statistical…
-
Pakistan budget to significantly reduce government debt, rating agency Fitch predicts | The Express Tribune
.
[ad_1] Fitch forecasts Pakistan’s FY25 budget to significantly reduce government debt, which is projected to decline to 68% of GDP by the end of FY24. This reduction is attributed to high inflation and deflator effects, which help offset soaring domestic interest costs. Fitch Ratings forecasts a concurrent decline in both inflation and interest costs, driven…
-
PM’s adviser says IMF ‘relaxed’ demands due to friendly nations
.
[ad_1] International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, US, October 9, 2016. — Reuters Adviser to Prime Minister on Political Affairs Rana Sanaullah Monday underscored the crucial role played by friendly country whose pledge to assist Islamabad resulted in relaxed conditions of…
-
Instead of taxing ‘holy cows’, govt to butcher milk consumers | The Express Tribune
.
[ad_1] ISLAMABAD: The PML-N-led coalition government has dropped a price bomb of over Rs250 billion on milk consumers by proposing an 18% general sales tax (GST) on every litre of packaged milk being sold in the country. Interestingly, the Shehbaz Sharif government has targeted a segment related to people’s nutrition, disregarding the sad fact that…
-
Soaring stocks, collapsing economy | The Express Tribune
.
[ad_1] KARACHI: Pakistan’s stock market is soaring and it just recently crossed a record high. This would normally be good news were it not for the fact that as the stock market soars the real economy is in freefall. There is near unbearable inflation and unemployment, interest rates are at record highs, the poor are…
-
Challenging crosswinds: Pakistan’s trade pattern | The Express Tribune
.
[ad_1] KARACHI: The latest indicators of external trade, released by the Pakistan Bureau of Statistics (PBS), show a continuing decline in trade deficit in the first 11 months of FY24, driven by rising exports and decreasing imports. The trade deficit, reported at $21.7 billion, decreased by 15.3% year-on-year, while exports increased by 10.7% and imports…
