Foreign exchange reserves of the State Bank of Pakistan decreased by $6 million to $9.103 billion during the week ended on June 7. According to the SBP, the reserves could see a further drop in next two months due to debt servicing in the first quarter of FY25. The State Bank said the total liquid foreign reserves held by the country stood at $14.383bn as of June 7. Net foreign exchange rese
The Pakistan LPG Marketers Association (PLPMA) has predicted a potential increase of Rs30 per kg in the price of liquefied petroleum gas (LPG). This projection is based on a significant rise in the petroleum development levy (PDL) and an additional 18 per cent sales tax imposed on imported LPG. In a statement, Vice-Chairman Ali Haider said the association calls for an immediate review of these
The Pakistan Software Houses Association (P@SHA) has said that the budget 2024-25 will only increase the brain drain from the country, especially in the IT sector, due to high taxation in this sector, which will eventually restrict growth and innovation. P@SHA Chairman Muhammad Zohaib Khan has said that the government has completely overlooked the IT industry’s budgetary proposals despite repea
The Punjab government has earmarked Rs539.1bn for the health sector for the financial year 2024-25 with a 24pc increase compared to the last budget. A major chunk of the total budget – Rs55bn – has been allocated for provision of free medicines to the poor and deserving patients in the outpatient departments (OPDs) of the public hospitals and Rs54bn for the Universal Health Coverage under the h
Hybrid car assemblers are now in a quandary as the government increased the general sales tax (GST) to 25 per cent from 8.5pcin the new budget. As a direct consequence, the price of locally made hybrid vehicles is projected to surge, with some models potentially increasing by up to Rs1.4 million to over Rs2.2mn after the GST hike. Sources said that the assemblers of these vehicles were surpr