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Business

US dollar ranked last in top 10

5 Jul 2024

US dollar ranked last in top 10 "strongest currencies" globally

The US dollar dominates the global economic system.

Petrol pumps only closed in Karachi as association remains divided

5 Jul 2024

Petrol pumps only closed in Karachi as association remains divided

Provinces were directed to nominate a focal person for close coordination with dealers.

FBR blocks 210,000 SIMs of non-filers

4 Jul 2024

FBR blocks 210,000 SIMs of non-filers

In 2022, only 5.2 million out of Pakistan's population of over 240 million filed income tax returns, highlighting a significant gap in tax compliance.

Beware! Fuel stations across Pakistan to close at 6am tomorrow due to PPDA strike

4 Jul 2024

Beware! Fuel stations across Pakistan to close at 6am tomorrow due to PPDA strike

Abdul Sami Khan, Chairman of the PPDA, stated, "We met with government officials in Islamabad, but the talks produced no results; hence, we will go on strike as announced earlier."

Govt approves up to 51% hike in electricity tariffs for already overtaxed masses

4 Jul 2024

Govt approves up to 51% hike in electricity tariffs for already overtaxed masses

Pakistani households will face a surge in electricity bills, with prices jumping between Rs3.95 and Rs7.12 per unit.

Sindh slaps huge tax on medicines, medical devices

3 Jul 2024

Sindh slaps huge tax on medicines, medical devices

This decision has sparked strong reactions from Karachi residents already struggling with high inflation and economic difficulties.

Petrol pumps in Pakistan to remain closed on July 5

3 Jul 2024

Petrol pumps in Pakistan to remain closed on July 5

The dealers gave a call for a nationwide strike against the government's "unjustified tax".

Pakistan to export donkey hides to China

3 Jul 2024

Pakistan to export donkey hides to China

Pakistan has trade officers posted in 70 countries worldwide

Solar panel sales jump up amidst hot weather, load shedding in Karachi

2 Jul 2024

Solar panel sales jump up amidst hot weather, load shedding in Karachi

A single-glass solar plate is being sold for Rs35,000 to Rs37,000 minimum.

Reforms limit pension for heirs to 10 years

2 Jul 2024

Reforms limit pension for heirs to 10 years

A federal government employee would be eligible for a pension after 25 years of service

Budget 2024-25: Makeup products’ prices increased

1 Jul 2024

Budget 2024-25: Makeup products’ prices increased

Under the new measures, makeup and beauty products will face a 40% hike in duties, while perfumes and sprays will see a 20% increase. Conversely, tariffs on imported hair clippers and hair dryers have been reduced to 10%.

Pakistan's CPI inflation clocks at 12.76% in June

1 Jul 2024

Pakistan's CPI inflation clocks at 12.76% in June

Urban areas and rural areas witnessed a 0.58% and 0.28% inflation rate

Govt imposes regulatory duty on import of raw materials

1 Jul 2024

Govt imposes regulatory duty on import of raw materials

The tax on medicine raw materials will be effective from July 1.

Govt gives go-ahead to hike industry gas rate to meet IMF demands

1 Jul 2024

Govt gives go-ahead to hike industry gas rate to meet IMF demands

New rates would be effective from July 1.

President Zardari signs Finance Bill to approve budget 2024-25

30 Jun 2024

President Zardari signs Finance Bill to approve budget 2024-25

The Finance Bill will be enforced from tomorrow (July 1).

Tax fraud in Pakistan can land you in jail for 5-10 years

29 Jun 2024

Tax fraud in Pakistan can land you in jail for 5-10 years

A dedicated investigation wing will be established within FBR.

Pakistan Railways announces ‘summer vacation’ train from July 5

28 Jun 2024

Pakistan Railways announces ‘summer vacation’ train from July 5

This initiative aims to offer citizens a swift and comfortable travel option during the summer break.

Rs12,500 tax to be imposed on economy class tickets from July 1

28 Jun 2024

Rs12,500 tax to be imposed on economy class tickets from July 1

The move is expected to impact travel industry and the economy at large.

NA treasury benches approve petroleum levy amendment bill

28 Jun 2024

NA treasury benches approve petroleum levy amendment bill

The government collected Rs960 billion from the petroleum levy.

Sindh mulls imposing tax on private schools, medical services

28 Jun 2024

Sindh mulls imposing tax on private schools, medical services

The Sindh Revenue Board will begin collecting the tax on July 1

Bad news for inflation-hit people as petrol price likely to hike by Rs7 per litre

27 Jun 2024

Bad news for inflation-hit people as petrol price likely to hike by Rs7 per litre

The prices of POL were slashed by Rs35 in the last four fortnight reviews.

Govt approves Rs2,128 billion defence budget

26 Jun 2024

Govt approves Rs2,128 billion defence budget

MNAs accepted demands from different ministries and divisions.

Bidding for PIA's privatisation to take place in first week of August

25 Jun 2024

Bidding for PIA's privatisation to take place in first week of August

The bidding process for PIA is scheduled to commence in the first week of August. Prime Minister Sharif emphasized the acceleration of the privatization process for PIA and underscored the importance of maintaining transparency throughout.

Petrol, diesel prices in Pakistan likely to go up from July 1

24 Jun 2024

Petrol, diesel prices in Pakistan likely to go up from July 1

In the newly proposed Finance Bill 2024, the government has introduced a substantial hike in the maximum petroleum levy, increasing it by Rs20 to reach Rs80 per litre.

Cash-strapped Pakistan imports smartphones worth $1.062 billion

24 Jun 2024

Cash-strapped Pakistan imports smartphones worth $1.062 billion

The import of cars saw a spike of 269 percent.

Despite inflated bills, Minister claims energy sector faces Rs600 bln annual loss

24 Jun 2024

Despite inflated bills, Minister claims energy sector faces Rs600 bln annual loss

Minister said federation has no charity money to give thieves.

GST to turn packaged milk costlier by Rs55 across Pakistan

23 Jun 2024

GST to turn packaged milk costlier by Rs55 across Pakistan

The increase in GST was proposed in the budget 2024-25.

Tax on medical equipment to decline treatment affordability among low-income

22 Jun 2024

Tax on medical equipment to decline treatment affordability among low-income

The budget of public hospitals will also increase.

Pakistan records 67% increase in exports to Afghanistan

21 Jun 2024

Pakistan records 67% increase in exports to Afghanistan

Pakistan imported items of $51.61 million from Afghanistan.

NEPRA proposes up to Rs1,000 fixed charges for domestic consumers

21 Jun 2024

NEPRA proposes up to Rs1,000 fixed charges for domestic consumers

The fixed charges will be effective from the new fiscal year.

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