ISLAMABAD: Pakistan hopes a successful on-site visit by a team of the Financial Action Task Force (FATF), leading to early conclusion of the process to
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Pakistan commiserates with Afghanistan over quake, flood destruction
By Staff Reporter ISLAMABAD: The people and government of Pakistan stand ready to extend all possible support to ameliorate the suffering of our Afghan brethren
Pakistan almost seals IMF deal with super tax
By Staff Reporter
ISLAMABAD: Mustering the much-needed courage, the government on Friday levied a super tax on big-earners to raise extra Rs466 billion, enabling itself to chase a higher tax target of Rs7.470 trillion to reclaim the IMF loan ditched by the last government.
China’s BaoSteel likely to fire up long-cold PSM
By Staff Reporter
ISLAMABAD: China’s BaoSteel is likely to fire up the long-cold blast furnaces of Pakistan Steel Mills Corporation (PSMC) as the Chinese steelmaker, which has recently completed a successful due diligence tour, is eyeing a deal, the country’s privatisation managers said on Friday.
Inflows Unlocked: China’s $2.3bn lands in SBP coffers
By staff reporter
ISLAMABAD: State Bank of Pakistan (SBP) on Friday received a $2.3 billion Chinese loan, which analysts termed as godsend support, as the country’s foreign reserves were barely enough for 45 days of imports a day ago.
Military eliminates terrorists in DI Khan
By Staff Reporter
ISLAMABAD: Pakistan’s military on Friday said it eliminated two terrorists in the Kulachi area in Khyber-Pakhtunkhwa’s Dera Ismail (DI) Khan district in a fierce skirmish.
Pakistan Navy, a formidable sentinel of seas: COAS
By Staff Reporter
LAHORE: Chief of Army Staff (COAS) General Qamar Javed Bajwa on Friday said Pakistan Navy’s history was decorated with valour, sacrifices, and professional excellence being the battle-hardened sentinel of the country’s seas.
The Plot: PSX plummeted after the announcement of super tax. Screenshot from PSX data portal.
Super tax: A bridge too far?
By Staff Reporter
ISLAMABAD: The government scrambled to control damage Friday after the announcement of a 20 percent super tax sowed panic among the markets, causing the PSX to lose 2,055 points or 4.81 value in a mere 20 minutes before trading was closed to stem further damage.
Image courtesy PSX
PSX crashes on news of super tax
By Staff Reporter
KARACHI: Pakistan Stock Exchange (PSX) crashed on Friday after Prime Minister Shehbaz Sharif announced to impose a 10 percent super tax on large-scale industries.
The super-rich to pay super tax
By Staff Reporter
ISLAMABAD: Prime Minister Shehbaz Sharif Friday said the new budget will bring a 10 percent super tax on major industries and a progressive tax on the income of those earning more than PKR 150 million, with the proceeds being spent on poverty alleviation measures.