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IMF proposes high income tax | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has proposed to tax the upper middle and rich income groups, who earn in the range of Rs104,000 to Rs1 million a month, at a single rate of 30%. The proposal indicates inequity in taxation as a majority of the salaried Pakistanis will be worse off amid double-digit…
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PSO’s receivables reach record high | The Express Tribune
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[ad_1] ISLAMABAD: The receivables of Pakistan State Oil (PSO) have swelled to an all-time high at Rs489 billion as the company’s several clients failed to pay their bills for fuel supplies, say industry players. Though the company has posted the highest-ever after-tax profit of Rs29.1 billion for financial year 2020-21, its financial health is deteriorating…
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Brent crude soars to near 14-year high of $140 per barrel
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[ad_1] The prices of Brent oil have risen to a near 14-year high of $140 per barrel — AFP NEW YORK: Brent crude oil prices soared to a near 14-year high of $140 per barrel on Sunday as traders fretted over the fallout from Russia’s invasion of Ukraine. Brent North Sea crude oil for May delivery reached…
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Trade deficit stays high at $32b | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s trade deficit remained significantly high at $32 billion in the first eight months of current fiscal year as the pace of increase in exports stood at nearly half of the surge in imports, making the government’s external position vulnerable. According to data released by the Pakistan Bureau of Statistics (PBS) on Wednesday,…
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Petroleum imports touch record high | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan’s petroleum import bill hit a record high of $11.69 billion in the first seven months (July-January) of current fiscal year 2021-22 mainly due to a surge in energy prices in the global market and partly due to a pickup in demand in the country. The oil import bill increased by 107% to…
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UK annual inflation hits fresh 30-year high
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[ad_1] A customer shops for meat at a Sainsbury’s supermarket in Walthamstow, east London on February 13, 2022. UK annual inflation struck 5.4% in December, stoking fears of a cost-of-living squeeze as wages fail to keep pace. — AFP LONDON: UK annual inflation has hit the highest level since 1992, data showed Wednesday, adding pressure…
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Oil drops from 7-year high | The Express Tribune
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[ad_1] Oil dropped from a seven-year high to around $94 a barrel on Tuesday, pressured by a report that some troops in Russia’s military districts adjacent to Ukraine are returning to bases, a move that could de-escalate tension between Moscow and the West. Russia’s Interfax news agency cited the defence ministry as saying that while…
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Petrol prices likely to hit all-time high in Pakistan
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[ad_1] The well-placed sources said that petrol and diesel prices may go up by Rs13 and Rs18 per litre from February 16. -File photo ISLAMABAD: The prices of petroleum products are expected to hit an all-time high in Pakistan as the government is likely to increase the fuel prices by Rs18 per litre for the…
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Oil steadies near seven-year high on Ukraine-Russia tensions | The Express Tribune
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[ad_1] LONDON: Oil steadied on Monday after earlier hitting its highest in more than seven years on fears that a possible Russian invasion of Ukraine could trigger US and European sanctions that would disrupt exports from one of the world’s top producers. Brent crude was up $0.11, or 0.1%, at $94.55 a barrel by…
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Remittances hit record high at $18b | The Express Tribune
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[ad_1] KARACHI: Pakistan has received record high workers’ remittances of $18 billion from the expatriates in first seven months (July-January) of current fiscal year 2021-22, however, the inflows shrank to 17-month low in January 2022. Remittances rose 9% to $17.95 billion during July-January of fiscal year 2021-22 compared to $16.46 billion in the same period…
