Business News
-
PSX dips below 73,000 barrier ahead of budget announcement | The Express Tribune
.
[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 situation were reported as factors contributing to the dip ahead of the announcement for the…
-
World Bank green-lights $1bn for Dasu Hydropower Project
.
[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 released by the World Bank read. The WB’s Board of Executive Directors approved the funding to…
-
Economic Survey 2023-24: Aurangzeb highlights GDP contraction, urgent need for IMF programme | The Express Tribune
.
[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, Pakistan’s GDP contracted, and the rupee depreciated by 29%. He stressed the necessity of entering…
-
Local experts challenge IMF’s tax plan with innovative reforms | The Express Tribune
.
[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 reducing income tax rates while withdrawing some exemptions. A consortium of notable Pakistani tax experts…
-
Pakistan economic survey 2023-24 to be unveiled today
.
[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 launched today (Tuesday). Finance Minister Muhammad Aurangzeb will present the survey in the National Assembly…
-
SBP reduces policy rate by 1.5% ahead of budget
.
[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 decision to cut the key rate to 20.5% comes two days ahead of budget and…
-
Pakistan Stock Exchange witnesses bearish trend, loses 501 points | The Express Tribune
.
[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 at Rs10.18 billion were traded during the day, compared to 559.6 million shares valued at…
-
High corporate tax rates – a barrier to MNCs | The Express Tribune
.
[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 in their respective units or inject capital into some new ones. Moreover, they make investments…
-
Solar panel prices jump ahead of budget | The Express Tribune
.
[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 with IMF conditions amid bailout negotiations, is reportedly considering imposing additional taxes on solar panels.…
-
Lack of data may impede urea subsidy | The Express Tribune
.
[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 stressed the need for offering targeted subsidy to farmers, who have long been deprived of…
