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Business

IMF proposes Pakistan to impose up to 18% GST on medicines

21 May 2024

IMF proposes Pakistan to impose up to 18% GST on medicines

Diabetes and hypertension medicines will see sharp rise.

Pakistan, IMF agree to expend BISP budget in FY24

21 May 2024

Pakistan, IMF agree to expend BISP budget in FY24

IMF and Islamabad set a target to increase the number of BISP beneficiaries to 20 million

Defence budget likely to be increased by Rs313 billion in upcoming budget

20 May 2024

Defence budget likely to be increased by Rs313 billion in upcoming budget

Last year, Rs1.57tr was allocated for defence affairs and services.

IMF demands Pakistan to restrict 'cash use' in real estate sector

18 May 2024

IMF demands Pakistan to restrict 'cash use' in real estate sector

The global lender also expressed dissatisfaction with Islamabad's efforts.

Pakistan, IMF set to hold talks over 'long-term loan' this week

18 May 2024

Pakistan, IMF set to hold talks over 'long-term loan' this week

Finance Minister Muhammad Aurangzeb expressed hope for a larger bailout programme from the IMF.

Do you know about 'Gas Holiday' announced by SSGC in Sindh?

17 May 2024

Do you know about 'Gas Holiday' announced by SSGC in Sindh?

Attributing the decision to dwindling gas reserves and resultant low pressures within their infrastructure, SSGC underscores the necessity of this measure to stabilize their gas distribution network.

IMF demands Pakistan to impose up to Rs100 carbon tax on petroleum products

17 May 2024

IMF demands Pakistan to impose up to Rs100 carbon tax on petroleum products

The Washington-based lender aims to transform the existing GST scheme.

PESCO agrees to reduce loadshedding in KP after CM Ali Amin Gandapur’s ultimatum

16 May 2024

PESCO agrees to reduce loadshedding in KP after CM Ali Amin Gandapur’s ultimatum

The Chief Minister had set a deadline for the federal government to tackle the issue, cautioning that he would assume control of the grid station if the problem persisted.

Climate change cuts Pakistan's mango production by 15%

16 May 2024

Climate change cuts Pakistan's mango production by 15%

As many as 100,000 tonnes of mangoes will be exported this year

IMF wants Pakistan to collect more tax, end exemptions

16 May 2024

IMF wants Pakistan to collect more tax, end exemptions

IMF proposed tax on non-filers, salaried persons and imported luxury equipment.

Govt seeks 25% increase in power tariff for FY25

16 May 2024

Govt seeks 25% increase in power tariff for FY25

Nepra has called a public hearing on the matter on May 23.

Pakistan’s total debt, liabilities surge to record Rs81 trillion

16 May 2024

Pakistan’s total debt, liabilities surge to record Rs81 trillion

Pakistan has to pay $60 billion to the IMF in the next three years.

Pakistan govt slashes petrol price by Rs15.39/ litre for next fortnight

16 May 2024

Pakistan govt slashes petrol price by Rs15.39/ litre for next fortnight

Following these adjustments, the new prices stand at Rs 273.10 for petrol, Rs 274.08 for high-speed diesel, and Rs 161.17 for light diesel.

Pakistan mulling to increase tax on cash withdrawal from bank

15 May 2024

Pakistan mulling to increase tax on cash withdrawal from bank

The Federal Board of Revenue (FBR) has suggested raising the advance tax rate from 0.6 per cent to 0.9 percent for non-filers on cash withdrawals in the upcoming budget year. This proposal has received a nod from the IMF.

Is government increasing power tariffs to fulfil IMF demand?

15 May 2024

Is government increasing power tariffs to fulfil IMF demand?

Sources said electricity tariffs might increase by up to Rs7 per unit.

Govt decides to privatise all 'state-owned enterprises'

14 May 2024

Govt decides to privatise all 'state-owned enterprises'

The privatisation process of PIACL , among other entities, will be broadcast live for transparency

Non-filers will receive only Rs10 on Rs100 mobile top-ups under new tax

13 May 2024

Non-filers will receive only Rs10 on Rs100 mobile top-ups under new tax

According to sources, one telecom company has challenged the IGTO in court.

Petrol price expected to decrease by Rs13 per litre

13 May 2024

Petrol price expected to decrease by Rs13 per litre

The current price of petrol is Rs288.49 per litre.

Pak Army-backed firm begins 'real estate project' on 129 acres land in Karachi

10 May 2024

Pak Army-backed firm begins 'real estate project' on 129 acres land in Karachi

The land is situated in front of the US Consulate office in the port city.

World Bank agrees to work with Pakistan under new CPF

9 May 2024

World Bank agrees to work with Pakistan under new CPF

The premier appreciated the World Bank’s support in the development of Pakistan

Power tariff up by Rs2.83 per unit

8 May 2024

Power tariff up by Rs2.83 per unit

This move is poised to inflict hardships on households and industries alike, exacerbating their financial woes.

IMF demands Pakistan to increase taxes on salaried class earning between 51k-100k

8 May 2024

IMF demands Pakistan to increase taxes on salaried class earning between 51k-100k

Currently, business owners pay the highest 35% tax rate

Saudi Arabia says Pakistan is

6 May 2024

Saudi Arabia says Pakistan is "very suitable country" for investment

Pakistan-Saudi Arabia investment conference kicked off in Islamabad.

Milk price hiked by Rs10 per litre in Karachi

5 May 2024

Milk price hiked by Rs10 per litre in Karachi

The new rate of milk is fixed at Rs210 per litre.

Petrol price slashed by Rs5.45 per litre

30 Apr 2024

Petrol price slashed by Rs5.45 per litre

According to details, the fuel prices were slashed for the next fifteen days. Petrol price was slashed by Rs5.45 per litre, while diesel rate was slashed by Rs8.42 per litre.

FBR gets govt's nod to block mobile SIMs of over 500,000 tax evaders

30 Apr 2024

FBR gets govt's nod to block mobile SIMs of over 500,000 tax evaders

The FBR's decision was conveyed through an official notification, directing telecom companies to promptly execute the directive.

SBP receives $1.1bln IMF loan tranche

30 Apr 2024

SBP receives $1.1bln IMF loan tranche

In a statement on Tuesday, the SBP said the amount would be reflected in the foreign exchange reserves for the week ending on May 3.

Uber completely shuts down operations in Pakistan

30 Apr 2024

Uber completely shuts down operations in Pakistan

Its subsidiary brand Careem will continue its operation in the country.

Petrol price likely to be slashed by Rs5 per litre today

30 Apr 2024

Petrol price likely to be slashed by Rs5 per litre today

The current prices of petrol is 293.94 per litre

Farmers arrested as protesters reach Punjab Assembly amid wheat crisis

29 Apr 2024

Farmers arrested as protesters reach Punjab Assembly amid wheat crisis

Central Chairman of the Kisan Ittehad, Khalid Hussain, was set to lead the farmers’ caravan from different routes to the Punjab Assembly, despite the delays caused by the arrests.

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