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.
By Staff Reporter
KARACHI: State Bank of Pakistan’s (SBP) dollar stockpile hit a 32-month low of $8.2 billion from $8.99 billion last week, latest numbers revealed on Thursday, which leaves the country with an import cover for just 1.21 months, but a top-up of likely $2.3 billion from Chinese banks could lift them to a less critical level.
By Staff Reporter
ISLAMABAD: The government is brainstorming ways and means to wring more taxes out of salaried/business class, high earners and sectors like tobacco, beverages, steel, etc before closing the budget document for next fiscal.
By Staff Reporter
ISLAMABAD: The government has finally decided to go after the wealthy to make them cough up higher taxes on top of rationalising the tax regime to ensure it’s equitable, Prime Minister Shehbaz Sharif said on Thursday.
By Staff Reporter
KARACHI: The global food conglomerate Cargill, Inc., plans to enhance and diversify its investments in Pakistan in the fields of agriculture and bio industry, reports coming from the Embassy of Pakistan, Washington DC say.
By Staff Reporter
KARACHI: The Pakistani rupee continued its rally against the US dollar overnight on Thursday after staging an initial recovery Wednesday on the back of multiple positive reports concerning the government’s macroeconomic options.
By Staff Reporter
ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday approved quarterly adjustments of 57 paise per unit in July, August and September bills of K=Electric consumers to adjust Rs90 billion outstanding cost of electricity consumed by the city residents five years back.
By Staff Reporter
ISLAMABAD: With Pakistan well on its way to having the International Monetary Fund (IMF) revive a stalled bailout package it urgently needs, news came on Wednesday that a consortium of Chinese banks has thrown Islamabad a credit line of over USD 2 billion.
By Staff Reporter
KARACHI: The Pakistani rupee bounced back against the dollar in the morning trading Wednesday on the news of the authorities’ reaching a broad deal with the International Monetary Fund (IMF) on budgetary targets.
By Staff Reporter
ISLAMABAD: In a welcome development Tuesday night, Pakistan and the International Monetary Fund (IMF) evolved broad agreement over the next fiscal’s budget, paving the way for the revival of a stalled Fund bailout program, Independent Pakistan can report.
