Budget will aim to set stage for IMF bailout
ISLAMABAD: Pakistan’s coalition government is expected to lay out ambitious fiscal targets in 2024-2025 (July-June) budget on Wednesday that will help strengthen its case for new bailout deal with International Monetary Fund, officials and anal...
Sindh Minister Energy attends meeting on legislation of SEPRA
KARACHI: Sindh Energy Minister Syed Nasir Hussain Shah said that SEPRA will be fully authorised of power generation-distribution and transmission and will be first autonomous organisation in Sindh, making its own decisions as compared to NEPRA. In me...
SBP reduces key policy rate by 150 basis points, takes it to 20.5%
Karachi: State Bank of Pakistan’s Monetary Policy Committee (MPC) reduced key policy rate by 150 basis points (bps), taking it to 20.5 percent, effective from June 11, 2024. In its statement, MPC said that while significant decline in inflatio...
KSE-100 closes marginally negative
Karachi: Pakistan Stock Exchange (PSX) eventually saw benchmark KSE-100 Index close marginally negative, but not before it had lost over 2,000 points in early minutes of trading. KSE-100 started the trading session with its biggest fall in months, pl...
Section 7E of ITO should be abolished: FPCCI
Karachi: FPCCI demanded Section 7E of Income Tax Ordinance (ITO) 2001 should be abolished for being unproductive and unfair for levying deemed or imaginary income on immovable properties. 7E has produced no significant increase in tax collecti...
Ensuring decent work for agri-workers vital for sustainable development: EFP
KARACHI: Employers Federation of Pakistan (EFP) with support from International Labour Organisation (ILO) organised session for members of Mehar Agriculture Employers (Landlords) Association (MAEA) in Hyderabad. EFP Secretary General Syed Naza...
Pakistan should ‘abandon’ CGT once, for all: co-founder Tundra Fonder
Mattias Martinsson, Chief Investment Officer and co-founder of Tundra Fonder-Swedish mutual fund that invests in frontier markets including Pakistan markets voiced his concern over rumours of high taxes being imposed on capital markets in upcoming bu...
Pakistan, Russia ink accord to upgrade railway sector
ISLAMABAD: Pakistan and Russia signed Memorandum of Understanding on cooperation in railway sector on sidelines of 27th St. Petersburg International Economic Forum (SPIEF). Memorandum of Understanding aims to explore opportunities for implement...
FBR caught Rs22bn tax fraud by business companies
ISLAMABAD: Directorate General of Intelligence and Investigation of Inland Revenue of FBR has caught Sales Tax fraud of more than 22 billion rupees. Sources disclosed to this scribe that two companies defrauded billions of rupees through fake units a...
KSE-100 loses 357pts on bank, gas, Oil scrips
Karachi: Pakistan Stock Exchange (PSX) witnessed another bearish session as its benchmark KSE-100 Index closed 357 points lower, extending downturn for fourth consecutive day. KSE-100 started session positive, hitting an intra-day high of 74,593.33....
