The great tax exodus – Business
TAX evasion significantly impedes human development in Pakistan, hindering the provision of essential public services, addressing socio-economic disparities, and ensuring a sustainable future. Despite efforts to strengthen the tax system, evasion persists, depriving the government of revenue and hindering investment in critical sectors of education, healthcare, infrastructure, and social welfare. This exacerbates inequality, restricts access […]
Tax hike to halve car sales, warn auto assemblers – Business
KARACHI: The Economic Coordination Committee’s (ECC) decision to increase the general sales tax to 25 per cent on locally produced vehicles of 1,400cc and above or priced Rs4 million will result in a drop in volumes and revenues. The auto assemblers said it is highly unlikely that a hike in GST would additionally generate revenue […]
Exports of textiles rise 10pc in January – Business
ISLAMABAD: Textile and clothing exports grew for the second consecutive month in January, according to data issued by the Pakistan Bureau of Statistics (PBS) on Friday. The sector’s exports rose 10.10 per cent to $1.45 billion in January from $1.32bn in the same month last year. Month-on-month the exports increased by 3.33pc. However, in the […]
Trump fined $355m, barred from New York business in fraud trial – World
NEW YORK: A judge ruled on Friday that Donald Trump must pay $354.9 million in penalties for fraudulently overstating his net worth to dupe lenders, handing the former US president another legal setback in a civil case that imperils his real estate empire. Justice Arthur Engoron also banned Trump from serving as an officer or […]
PSX down 900 points as uncertainty on formation of new govt persists – Business
Shares at the Pakistan Stock Exchange (PSX) traded in the red on Friday, with stocks plunging by more than 900 points in intraday trade as analysts attributed the losses to continued uncertainty on the political front. At 12:09pm, the benchmark KSE-100 index plunged by 984.38, or 1.61 per cent, to stand at 60,035.67 from the […]
Bears drag KSE-100 down by 900 points during intraday trade – Business
Shares at the Pakistan Stock Exchange (PSX) traded in the red on Friday as stocks plunged by more than 900 points in intraday trade as analysts attributed the losses to uncertainty on the political front. At 12:09pm, the benchmark KSE-100 index plunged by 984.38, or 1.61 per cent, to stand at 60,035.67 from the previous […]
Stocks lose 1,133 points on instability fears – Business
KARACHI: Bears took over the trading floor of the Pakistan Stock Exchange on Thursday after Pakistan Tehreek-i-Insaf nominated candidates for prime minister and Punjab chief minister as it also started contacts with different parties for the formation of coalition governments. Also, the Pakistan Peoples Party’s reluctance to join Shehbaz Sharif’s cabinet despite announcing support to […]
Cabinet okays up to 67pc hike in gas tariff – Business
ISLAMABAD: The federal cabinet on Thursday approved a 67 per cent increase in the natural gas tariff with effect from Feb 1, apparently to meet the revenue requirement of the gas utilities targeted for the current year. According to the Prime Minister’s Office (PMO), the cabinet meeting presided over by caretaker Prime Minister Anwaarul Haq […]
Govt hikes petrol price by Rs2.73 per litre – Business
The caretaker government on Friday hiked the price of petrol by Rs2.73 per litre for the next fortnight. The new price of petrol is now RsRs275.62 per litre from the previous price of Rs272.89, according to a notification from the Finance Division. The price of high-speed diesel (HSD) was increased by Rs8.37 to Rs287.33 per […]
KSE-100 index plunges 1,100 points on political ‘ambiguity’ – Business
Bears dominated the Pakistan Stock Exchange (PSX) on Thursday as shares witnessed a spike in selling pressure, with analysts attributing the losses to “ambiguity on the political landscape”. According to the PSX website, the KSE-100 index lost 936.97, or 1.51 per cent, to stand at 61,216.87 at 2:52pm. It finally closed at 61,020.05, down 1133.79 […]