A delegation from the Pakistan Business Council held discussions with FM Aurangzeb concerning the upcoming fiscal year’s budget. During the meeting, the delegation presented specific tax proposals and commended the government’s ongoing efforts. Aurangzeb assured the delegation that their recommendations were being carefully considered and would be taken into account as much as possible in […]
The Oil and Gas Regulatory Authority (OGRA) had set the official price at Rs234.60 per kg, but the market price has soared to Rs280-285 per kg. Following the price hike, the cost of a domestic LPG cylinder has increased by Rs600, now selling at Rs3,370. Similarly, commercial cylinders are now priced at Rs12,435, up from […]
According to details, the Excise Department will hold a ‘historic auction’ of premium number plates on June 29 at a local hotel in Karachi. Interested participants can register now for the event. The auction will feature premium number plates in the Platinum, Gold, and Silver categories. Representatives from car manufacturing companies have also been invited […]
Policymakers and the elite are seen as neglecting the country’s foundations while enjoying increasing privileges funded by the hard-earned income of the salaried class. It appears that the budget, seemingly prepared without benefiting any industry, is strangling the IT sector. Although the government allocated a budget of Rs79 billion for the IT sector, IT professionals […]
A stronger greenback makes dollar-denominated commodities less attractive for holders of other currencies. However, both benchmark crude contracts gained about 3% last week on signs of stronger oil product demand in the U.S., the world’s largest consumer, and OPEC+ cuts kept supply in check. U.S. crude inventories fell while gasoline demand rose for the seventh […]
Household spending, traditionally a strong contributor to Indonesia’s GDP, and election-related spending helped to expand Southeast Asia’s largest economy 5.11 percent in the first quarter of 2024. And it is expected to expand five percent overall this year, followed by 5.1 percent in 2025 and 2026, according to the World Bank’s Indonesia Economic Prospects report. […]
The move, part of the 2024-25 fiscal budget, is expected to significantly impact the affordability of healthcare for poor patients. Experts warn that the first-ever sales tax on the diagnosis and treatment of diseases will increase the costs by 25% to 30%. This tax will also severely affect the budgets of public hospitals, leading to […]
People familiar with the discussions told the Daily that the terms of the possible alternative settlement, known as a deferred prosecution agreement, or DPA, are still subject to change. A DOJ official involved in the case, Glenn Leon, chief of the fraud section criminal division, said in an email to a civil party lawyer seen […]
Out of the Rs70 billion, an amount of Rs30 billion will be the impact of increase in property valuations and the remaining Rs40 billion is estimated to be collected through a higher withholding tax on the revised valuations and the new withholding tax rates. The statement about property valuation was made during a meeting of […]
Secretary Ministry of Economic Affairs Dr Kazim Niaz and Country Director ADB Yong Ye signed the loan program. Kazim Niaz thanked the ADB for its continued support of Pakistan’s critical development needs and rehabilitation efforts in a post-flood context. According to the ADB official ‘X’ handle, the agreement aimed at assisting Pakistan drive sustainable investment […]
