Express
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Inflation falls to two-year low of 20.7% in March | The Express Tribune
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[ad_1] ISLAMABAD: Inflation fell to nearly two years low of 20.7% in March despite seasonal spurt in perishable food items, beating the government’s expectations by a wide margin and putting a question mark on the central bank’s policy to maintain record high interest rates. The Pakistan Bureau of Statistics (PBS) reported on Monday that the…
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Overhauling Pakistan’s tax system | The Express Tribune
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[ad_1] KARACHI: I A Mayburov (2007) defines the Tax System as ‘a system that is a principle-based integral unity of its main interconnected and interrelated elements. These elements are the regulatory legal basis of taxation, the set of taxes and fees, the payers of taxes and fees, and the mechanism of tax administration’. Considering these…
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Petrol price jacked up by Rs9.66 per litre | The Express Tribune
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[ad_1] The federal government on Sunday increased the price of petrol by Rs9.66 per litre, effective from April 1, 2024 — a decision which could have a serious inflationary impact on the lives of ordinary citizens. According to a notification issued by the finance ministry, the price of petrol was increased as per the recommendation…
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Centre, Sindh agree to collaborate | The Express Tribune
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[ad_1] KARACHI: Sindh Chief Minister (CM) Syed Murad Ali Shah and Federal Minister for Finance Mohammad Aurangzeb have agreed to collaborate in an attempt to attract foreign investment and boost exports, thereby enhancing financial stability of the province and the country. This partnership emerged in a meeting between the two officials held at CM House…
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Minister denies IMF opposes subsidies | The Express Tribune
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[ad_1] KARACHI: Finance Minister Muhammad Aurangzeb on Friday claimed that it was misconstrued that the International Monetary Fund (IMF) opposed subsidies whereas it wanted the targeted ones to be increased. “The fact is that the IMF is against untargeted subsidies. It actually wants the targeted subsidies to be enhanced,” he told the media during his…
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PIA to sell aircraft spare parts ahead of privatisation | The Express Tribune
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[ad_1] ISLAMABAD: In a significant move ahead of the privatisation of Pakistan International Airlines (PIA), the airline’s management has announced the sale of additional spare parts for various categories of aircraft, valued at millions of rupees. The management, focusing on streamlining resources, has decided to put spare parts of Boeing 737, Boeing 707, Fokker, and…
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Exporters can import raw material duty free | The Express Tribune
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[ad_1] ISLAMABAD: The federal government has decided to conditionally allow goods exporters to import raw material, machinery and equipment without paying duties and taxes under the Export Facilitation Scheme. Exporters will have to obtain approval from the collectorate for the import of raw material, machinery and equipment. They will be able to import machinery and…
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Tax exemptions of Rs50b defy IMF | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has granted a Rs50 billion annual income tax exemption to two government departments, violating the International Monetary Fund (IMF) programme and its own tax law. This decision faced resistance from tax authorities despite being approved through two Acts of Parliament. Official documents show that the Pakistan Civil Aviation Authority (PCCA) and Pakistan…
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Global M&A picks up in Q1 | The Express Tribune
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[ad_1] NEWYORK: Mergers and Acquisitions (M&A) bounced back in the first quarter after a downbeat 2023, thanks to the return of mega deals, cheering investment bankers and lawyers waiting for a pick-up. Total M&A volumes globally climbed 30% to about $755.1 billion, according to the most recent data from Dealogic. The number of transactions worth…
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Bankman-Fried sentenced to 25 years for FTX fraud | The Express Tribune
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[ad_1] Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind’s dramatic downfall. US District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing after rejecting…
