The plan comes after London-listed Zegona closed the 5 billion euro ($5.41 billion) acquisition last month. Vodafone Spain, which has kept its brand name after reaching a 10-year agreement with Zegona, said in a statement it was convinced that the layoffs were the only way to guarantee its future viability and competitiveness. The company, which […]
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 […]
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 […]
According to a notification issued by In charge Manager A&P, all daily wage employees of Pakistan Steel Mills have been terminated from their jobs. The employees have been laid off after the end of their contract and they will not be re-hired by the PSM, the notification stated. In December 2023, the then-caretaker government removed […]
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+ […]
Brent crude futures rose 50 cents, or 0.6%, to $82.42 a barrel at 0630 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 62 cents, or 0.8%, to $78.52. The EIA raised its 2024 world oil demand growth forecast to 1.10 million barrels per day from a previous estimate of 900,000 bpd, while the […]
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 […]
