Finance Minister Muhammad Aurangzeb outlined the proposed changes during the National Assembly (NA) budget session, emphasizing the need for personal tax reforms. During the speech, Aurangzeb announced that the new tax target was set to Rs 12.97 trillion, a 38pc high year-on-year basis. He proposed maintaining the tax exemption on incomes up to Rs600,000 annually […]
In a statement issued here, the SBP said that the central bank will remain closed from 17th to 19th June. The 16th of June falls on Sunday, hence the banks will remain closed for four days. “The State Bank of Pakistan will remain closed from 17th to 19th June 2024 (Monday to Wednesday) being public […]
The local unit closed at 278.61, a decline of Re0.11 against the greenback. On Tuesday, the Pakistani rupee had closed at 278.50. Gold moves up Gold prices increased in Pakistan on Wednesday in line with an increase in the international rate, all Pakistan Gems and Jewellers Sarafa Association (APGJSA) said. In the local market, gold […]
Forty-three people were injured, the health ministry said, in the blaze in the Mangaf area south of Kuwait City which is heavily populated with migrant laborers. Unfortunately, we received a report of a fire at exactly 6:00 am (0300 GMT) in the Mangaf area, Major General Eid Al-Owaihan, head of the Interior Ministry’s General Department […]
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb will present the budget in the National Assembly. Meanwhile, the PML-N parliamentary party meeting has recommended Prime Minister Shehbaz Sharif to raise government employees by 25 percent. Pakistan to present Rs18 trillion budget today The meeting also suggested the prime minister increase grade 17-22 employees’ salaries […]
This includes ending GST exemptions on approximately 7,000 items, as well as eliminating exemptions and concessions on income tax and customs duty. The volume of tax exemptions will be reduced. The National Economic Survey for 2024-25, released on Tuesday, revealed significant insights regarding tax exemptions. The survey indicated that tax exemptions amounting to Rs 3,979 […]
Global demand is expected to “level off” at 106 million barrels per day (bpd) toward the end of this decade while overall supply capacity could reach 114 million bpd — resulting in a “staggering” surplus of eight million bpd that oil markets should prepare for, the IEA said. The forecast comes days after the OPEC+ […]
Saudi Arabia’s Public Security Department announced measures to ensure a smooth and secure Hajj 2024. Effective from midnight on the fifth of Dhu Al-Hijjah until the end of the 13th day, unauthorized vehicles will be prohibited from entering the holy sites. According to Public Security, individuals transporting pilgrims without valid Hajj 2024 permits will face […]
the International Monetary Fund (IMF) has conditioned the reduction of income tax slabs. The proposal includes an increase of 10 percent in tax on the monthly income of salaried class between Rs 3-5 lakh, enhancing the maximum tax limit from 35% to 45% and applying the maximum tax limit to annual income exceeding Rs 60 […]
The Pakistan Muslim League-Nawaz (PML-N) led federal government will present its first growth-oriented budget for the fiscal year 2024-25, with an estimated outlay of over Rs18 trillion. According to proposals, Pakistan has planned to get tax from the real estate sector in three slabs. Filter buying property worth Rs50 mln will have to pay 3 […]
