The Official Creditor Committee (OCC), led by Japan, France, and India, has requested details of Colombo’s other debt deals, a statement seen by AFP on Thursday read. The grouping agreed in Paris on Wednesday to restructure $5.8 billion in loans. But on the same day, Colombo struck another deal with the Exim Bank of China […]
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 […]
The Ministry of Industries and Production has sought a reversal of a proposed hike in sales tax on electric and hybrid vehicles in the new budget, saying that the tax increase is a violation of the government’s policies aimed at promoting new technologies. In a letter written to the Finance Division and the Federal Board […]
The benchmark KSE-100 reached an all-time high of 78,115 from the previous close of 77,213. The KSE-100 index gained 1409 points around 10.55 am. Analysts attributed the upward trajectory to the government’s willingness to unlock a deal with the International Monetary Fund (IMF) after the budget. Analysts expect the budget for the fiscal year to […]
Lasbela Chamber of Commerce and Industry President Ismail Suttar dubbed the document as a confused budget, claiming that the masters did not want economic stability in the country. Imagine a country that fails to support its exporters, what else can we expect from a budget that converts the 1% presumptive tax regime into normal taxation, […]
Talking in the budget transmission of the ARY News Nafisa Shah expressed reservations over the budget adding that these reservations will be presented to the government. “We will settle the issues with dialogue,” Shah said. “There is no option before us of not extending support to the government over budget,” the PPP leader said. “What […]
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 […]
The PML-N-led coalition government will present the budget 2024-25 tomorrow (Wednesday). Sources privy to the development said direct taxes worth Rs3452 billion and custom duty worth Rs267 bln will be slapped in the budget 2024-25. New taxes are proposed for income tax, capital value, sales, services, FED, and others. Sugar, rice, flour, and milk prices […]
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 budget was originally due to be presented on June 7 but was delayed because Prime Minister Shehbaz Sharif visited Beijing from June 4 to June 8, said sources. Prime Minister Shehbaz Sharif will visit China from June 4 to 8 at the invitation of President Xi Jinping, the Ministry of Foreign Affairs (MoFA) said […]
