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 […]
According to sources, Pakistan and the International Monetary Fund (IMF) have made significant progress in virtual negotiations. Sources revealed that the IMF expressed satisfaction over the tough economic decisions taken in the budget, acknowledging the positive role of political parties in the budget. Sources further added that the monetary fund also appreciated the limitation of […]
Pakistani Rupee on Friday gained 09 paise against the US Dollar in the interbank trading and closed at Rs 278.51 against the previous day’s closing at Rs 278.60. According to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market, however, were Rs 277.8 and Rs 280.7 […]
