Express
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PSX against tax-driven distortions in asset classes | The Express Tribune
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[ad_1] KARACHI: Pakistan Stock Exchange (PSX) has submitted tax proposals to the Ministry of Finance (MoF) and the Federal Board of Revenue (FBR) for consideration in the federal budget for fiscal year 2024-25, submitting that the government should align rates of capital gains tax (CGT) on the sale of stocks with those applicable to the…
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Poor people pay more taxes | The Express Tribune
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[ad_1] KARACHI: Economist Dr Kaiser Bengali has said that people in the low-income group are paying more taxes in Pakistan than those in high-income brackets, as the share of indirect taxes has spiked to 85% compared to the government’s claim of reducing their ratio to 59-60%. Speaking at a workshop titled “Budget Reporting” at the…
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Led by exports, cement sales increase 8% in May | The Express Tribune
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[ad_1] LAHORE: Cement dispatches increased 7.83% and reached 4.275 million tons in May 2024 against 3.965 million tons during the same month of last year. According to data released by the All Pakistan Cement Manufacturers Association (APCMA), local cement sales of the industry were 3.357 million tons during May 2024 compared to 3.432 million tons…
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Cigarette taxes cause heavy revenue loss | The Express Tribune
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[ad_1] ISLAMABAD: A recent study of the Lahore University of Management Sciences (LUMS) has sought the government’s immediate attention to the impact of tax policies, particularly the federal excise duty (FED) adjustment, on Pakistan’s cigarette industry, which is causing more revenue loss than revenue collection. The study titled “Impact of Taxation on the Cigarette Sector…
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NEPRA notifies Rs3.76 per unit electricity rate hike | The Express Tribune
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[ad_1] ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has notified an increase in electricity rates by up to Rs3.76 per unit due to a quarterly adjustment. The hike allows power companies to recover over Rs46 billion from consumers for the third quarter of FY 2023-24. Of this total, Rs28.515 billion will be charged as…
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Confidence in country’s economic direction rises from 12% to 18% | The Express Tribune
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[ad_1] Pakistanis who believe the country is heading in the right direction increased from 12% to 18%, according to a latest Consumer Confidence Index Survey report by market researchers Ipsos. The survey, conducted through CATI interviews with over 1,000 participants from all provinces, Islamabad Capital Territory, Gilgit-Baltistan, and Azad Jammu and Kashmir, shed light on…
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PSX tumbles over 900 points ahead of federal budget | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) took the plunge of more than 900 points in the KSE-100 index benchmark. During the intraday trading on Tuesday, the PSX dipped nearly 1.22%, closing at 74,666.65 points. The PSX plummeted a total of 1,212 points from its intraday high of 75,878.48 points yesterday. Earlier today, International Packaging…
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Inflation plummets to 2.5-year low | The Express Tribune
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[ad_1] ISLAMABAD: The inflation rate suddenly nosedived to a nearly two-and-a-half-year low of 11.8% in May due to a slump in food prices and some correction in fuel rates, opening a window for the central bank to rectify its monetary policy by making a major cut in interest rates on June 10th. The Pakistan Bureau…
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OPEC+ extends deep oil cuts into 2025 | The Express Tribune
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[ad_1] LONDON/DUBAI: OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival US production. Brent crude oil prices have been trading near $80 per barrel in recent days, below what…
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Economic policies: confusion prevails | The Express Tribune
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[ad_1] ISLAMABAD: In the span of just a few days, two seemingly contradictory headlines graced the front pages of Pakistan’s newspapers, shedding light on the perplexing state of the country’s decision-making. The first headline, about wheat crisis, detailed how wheat prices had plummeted, leaving farmers unable to secure the guaranteed support price for their produce…
