Indian Prime Minister Narendra Modi will visit China for the first time in over seven years, a government source said on Wednesday, in a further sign of a diplomatic thaw with Beijing as tensions with the United States rise. Modi will go to China for a summit of the multilateral Shanghai Cooperation Organisation (SCO) that begins on Augst 31, the government source, with direct knowledge of the
The Pakistan Stock Exchange (PSX) extended its record-setting rally for a third consecutive session on Tuesday, with investors continuing to cherry-pick stocks, pushing the benchmark KSE-100 index past the 143,000-point mark. According to Topline Securities Ltd, the bullish momentum continued from the previous two sessions, with the KSE-100 index reaching an intraday high of 1,229 points befor
After imposing up to three per cent tax on gross sale value of conventional local and imported vehicles, the government approved a five-year subsidy scheme on Tuesday for the rollout of 116,000 electric bikes and 3,170 electric rickshaws/loaders, with an estimated cost of around Rs100bn. The scheme is part of efforts to encourage the adoption of electric vehicles (EVs) in Pakistan, reduce oil i
Prime Minister Shehbaz Sharif on Tuesday directed the Federal Board of Revenue (FBR) to ensure the full implementation of reforms by removing bureaucratic hurdles and institutional barriers. Chairing a weekly review meeting on proposed reforms within the FBR, PM Shehbaz also expressed satisfaction over the increase in the country’s tax-to-GDP ratio, which rose from 8.83 per cent in FY24 to 10.2
The overall tax-to-GDP ratio increased by a record 3.2 percentage points in fiscal year 2025 to reach 15.7pc — the highest in over two decades. The record earnings came on the back of heavy taxes imposed by the government to implement strict conditions outlined in the IMF loan programme and last-minute windfalls from non-tax revenue (NTRs). During FY2024-25, the non-tax revenue grew by 68 pe