If approved by Prime Minister Shehbaz Sharif and subsequently by the National Assembly without succumbing to the pressure from traders, this proposal has the potential to add hundreds of billions of rupees to tax receipts. According to two other proposals, the tax authorities have recommended an increase in withholding tax by at least 1% on […]
Sources said that the matter was taken up during a recent meeting of the Economic Coordination Committee (ECC) of the cabinet, where it was highlighted that PIA had allegedly flouted the terms of a loan agreement reached with the National Bank of Pakistan (NBP). During the discussion, the arrangement made with the bank regarding the […]
The President of Pakistan is pleased to constitute the National Economic Council, according to a notification issued by the Cabinet Division on Friday. The federal government had convened the NEC meeting on June 3rd without realizing that the NEC was not in place. The NEC meeting will now take place on Monday. The Deputy Prime […]
Sources close to the development revealed that the government tasked a commission with collecting an estimated Rs 60 billion. This initiative comes as part of the upcoming government budget, which is expected to introduce stringent measures against smuggling and non-duty-paid goods. Sources claimed that the shops found selling smuggled or non-duty-paid cigarettes would be imposed […]
Elevate a fintech based in London and Dubai has secured financing of $5 million to expand further into South Asia. They’ve raised a total of $10 million in equity and debt from investors including Y Combinator, Goodwater, Global Founders Capital, and VSQ Since launching earlier this year, over 50,000 Freelancers and remote workers from Pakistan […]
Easypaisa is bringing ease and convenience to its users this Eid-ul-Azha for the sale and purchase of sacrificial animals through its own in-app Raast-based QR code payment mechanism. The initiative is part of the State Bank of Pakistan’s (SBP) QR code payment system under the Raast instant payment service aimed at facilitating the public and […]
According to the PBS data, the SPI for the week under review in the above-mentioned group was recorded at 309.91 points as compared to 308.52 points during the past week. As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of […]
Sources said that the Food Security Ministry sought a one-off relaxation in the application of Pakistan Animal Quarantine Rules 1980 for the import of wildlife from Africa. However, a recent cabinet meeting dismissed the request. During the discussion, the cabinet expressed concern over the import of wild animals from an African country from which the […]
The government is expected to announce a further reduction of up to Rs12 per litre in petroleum prices from June 15. Sources suggest that with a decrease of $5.14 per barrel in global oil prices, there is a possibility of a Rs12 per litre reduction in petrol prices in Pakistan. It is worth noting that […]
The benchmark KSE-100 Index opened with a bearish trend. At 09:52 am, the index plunged by over 2,000 points to the lowest level of 71,781.96. The KSE-100 index recovered at 11:17 am and was trading at 72,775.68, down by 1,087.25 points. Experts attributed the decline to concerns over the budget proposals for 2024-2025. Throughout the […]
