According to details, the FBR jacked up the property valuation rates by 75% of the actual market rates starting November 1, 2024. This decision aims to enhance revenue collection and reduce the undervaluation of properties. The updated rates reflect the FBR’s commitment to align the property values with their real market worth, expanding the number […]
The price for 10 grams of gold also fell by Rs771 to Rs242,970, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). In the international market, gold was priced at $2,739 per ounce, down by $9 during the day, with an additional premium of $20. Meanwhile, silver prices remained stable at Rs3,350 per tola. […]
The fuel prices in the global market have decreased by $1.5 and $2.5 per barrel respectively in the last 15 days. Keeping in view the current exchange rate and current tax rates, the government is likely to provide relief to the masses by reducing the prices of petrol and HSD by Rs3 and Rs2.30 per […]
As per details, APTMA Chairman Kamran Arshad has urged the Monetary Policy Committee to reduce interest rates by 400 basis points, stating that the high interest rate is a barrier to growth in the textile sector. Kamran Arshad highlighted that the effective interest rate of 10.6% is unsustainable for the industry, and urged the need […]
He acknowledged the Bank’s role as a reliable partner in Pakistan’s progress and appreciated its financing in various sectors including energy, transportation, education, and health. Muhammad Aurangzeb lauded the Bank’s investment in the Mohmand Dam, along with other members of the Arab Coordination Group, as a model for co-financing similar or larger projects in the […]
More than 300 exhibitors from 30 countries will present their products to an international trade audience. Alongside major, established machinery, chemicals, textiles, and equipment manufacturers, many new companies from sectors such as robotics and IT will also be represented. 11 Pakistani companies, including A. Essak & Sons Home Textiles, Adamjee Textile Mills, Huqas Apparel, J.K. […]
According to the notification issued by the FBR, the sales tax on locally manufactured tractors has been raised from 10% to 14%, and the same increase applies to imported tractors. The Federal Board of Revenue (FBR) officials stated that certain sales tax exemptions for tractors have been reduced. While the sales tax has been adjusted […]
The index gained 851.11 points, or 0.98%, to reach 88,045.64 points. According to Mohammed Sohail, CEO of Topline Securities, the rally was driven by local investors aggressively buying shares amid falling bond yields and expectations of a substantial cut in the monetary policy rate. “The locals are buying aggressively due to falling bond yields and […]
As per details, the FBR has restructured the Customs Intelligence and Investigation division, limiting its role to monitoring only. Additionally, the authority to stop or release consignments has been withdrawn from Customs Intelligence officers. A notification has been issued by the FBR Chairman under the directives of the Prime Minister, outlining reforms and a new […]
The announcement came following a meeting between Pakistan’s Finance Minister Muhammad Aurangzeb and the delegation of the Islamic Trade Financing Corporation (ITFC) in Washington. As per details, the $3 billion loan amount will be disbursed to Pakistan over the next three years. The CEO of ITFC, Engineer Hani Salem Sonbol, was also present during the […]
