Business News
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PSX dips below 73,000 barrier ahead of budget announcement | The Express Tribune
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[ad_1] The Pakistan Stock Exchange (PSX) experienced a significant downturn falling by 572 points, causing the index to drop below the 73,000-point barrier. The KSE-100 Index closed at 72,679 points. Inflation, current state of global markets, and the country’s political…
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World Bank green-lights $1bn for Dasu Hydropower Project
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[ad_1] A photograph of the World Bank’s headquarter in Washington, DC. — AFP/File The World Bank on Tuesday green-lit a second round of additional $1 billion in financing to Pakistan aimed at funding the Dasu Hydropower Stage I (DHP I) Project, a statement…
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Economic Survey 2023-24: Aurangzeb highlights GDP contraction, urgent need for IMF programme | The Express Tribune
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[ad_1] ISLAMABAD: The Economic Survey of Pakistan 2023-24, a pre-budget document detailing the country’s major socio-economic achievements during the outgoing fiscal year, has been launched. Finance Minister Muhammad Aurangzeb presented the survey. Aurangzeb highlighted that during the financial year 2022-23,…
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Local experts challenge IMF’s tax plan with innovative reforms | The Express Tribune
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[ad_1] ISLAMABAD: Contrary to the International Monetary Fund’s (IMF) recommendation to increase tax rates in the next budget to collect an additional Rs2 trillion, Pakistan’s renowned local experts on Monday unveiled a package that proposes generating Rs1.2 trillion more by…
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Pakistan economic survey 2023-24 to be unveiled today
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[ad_1] Representational image of people buy pulses and grains at a wholesale market. — AFP/File The Economic Survey of Pakistan 2023-24, a pre-budget document containing the details of major socio-economic achievements during the outgoing fiscal year, is set to be…
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SBP reduces policy rate by 1.5% ahead of budget
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[ad_1] The State Bank of Pakistan building in Karachi. — APP/file KARACHI: The State Bank of Pakistan (SBP) on Monday announced to cut the policy rate by 150 basis points, marking its first rate reduction in nearly four years. The…
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Pakistan Stock Exchange witnesses bearish trend, loses 501 points | The Express Tribune
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[ad_1] ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) saw a bearish trend on Monday, losing 501.46 points, or 0.68%, to close at 73,252.56 points, down from 73,754.02 points the previous day. A total of 350.7 million shares valued…
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High corporate tax rates – a barrier to MNCs | The Express Tribune
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[ad_1] KARACHI: Approximately 210 multinational companies (MNCs) in Pakistan operating in sectors like tobacco, oil, auto, pharmaceuticals, banking and others contribute a third of the total tax collection and make a major contribution to the national exchequer. They also reinvest…
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Solar panel prices jump ahead of budget | The Express Tribune
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[ad_1] KARACHI: Prior to the unveiling of the 2024-2025 budget in Pakistan, there has been a noticeable surge in solar panel prices, attributed to traders adjusting their rates in anticipation of upcoming tax changes. According to reports, the government, aligning…
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Lack of data may impede urea subsidy | The Express Tribune
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[ad_1] ISLAMABAD: The plan of providing direct fertiliser subsidy to farmers may hit a snag as the existing database does not contain information about landholding along with the ownership status of growers. During a recent meeting on fertiliser availability, parliamentarians…
