The Federal Board of Revenue (FBR) has evolved a simplified scheme for taxing the indicative incomes of traders, retailers and specified persons as part of the documentation to reduce the size of the informal economy. The tax department projects that the newly proposed scheme could potentially generate an income tax revenue ranging from Rs400 billion to Rs500bn. The details of the new taxati
BEIJING / ISLAMABAD: China has said it is ready to work with Pakistan to upgrade the China-Pakistan Economic Corridor (CPEC) and accelerate the building of an even closer China-Pakistan community with a shared future in the new era. Separately, caretaker Prime Minister Anwaarul Haq Kakar said after having achieved the first phase of CPEC, Pakistan is benefiting from its early harvest projects
Despite early volatility, the Pakistan Stock Exchange (PSX) managed to notch up significant gains on Tuesday, surpassing the 64,000 barrier in a rally powered by the strengthening rupee and foreign corporate inflows. In the morning, the bourse made a bearish start and dropped to its intra-day low at 63,549.60 points. The dip came on the back of selling pressure, which emerged following the Mini
Bullish sentiments prevailed in the stock market for the second consecutive session as trade activities through the Torkham border resumed with Afghanistan after remaining suspended since Jan 13, propelling the KSE-100 index above the 64,000-point level on Tuesday. Topline Securities Ltd said equities experienced significant volatility as the benchmark KSE 100-share index hit an intraday low
The government is anticipated to implement another significant hike in gas prices, averaging up to 41%, by mid-February, as part of the ongoing $3 billion loan programme with the International Monetary Fund (IMF). This move is expected to trigger a new wave of inflation in a market already grappling with persistent price pressures. The IMF asserts that increasing gas prices is essential to curb