The stock market witnessed persistent selling pressure amid growing budget-related uncertainties, taking the benchmark KSE 100 index below 78,000 on Tuesday. Ahsan Mehanti of Arif Habib Corporation said the market closed lower amid consolidation in the post-budget session. However, uncertainty about the IMF’s approval of new proposals to relax some tax measures before the approval of the federa
In the post-budget trading session, the Pakistan Stock Exchange (PSX) faced a marginal decline, recording a drop of 291.51 points, amid market consolidation. The day began on an optimistic note, with the KSE-100 index reaching an intraday high of 78,541.21 points. However, this early momentum was short-lived as bearish trends soon dominated the market, reversing the initial gains. Several facto
The government is set to amend the Oil and Gas Regulatory Authority (Ogra) Act aimed at allowing the operator of Energas Terminal to have monopoly over capacity utilistion in a bid to attract investment of $200 million from Qatar. At present, the terminal operator is bound to permit the use of liquefied natural gas (LNG) infrastructure to the third party with the consent of Ogra, meaning anybod
Finance Minister Muhammad Aurangzeb announced on Tuesday a Rs250 billion cut in the development budget and the withdrawal of Rs15 billion in taxes while granting three-month honorariums to Parliament employees. During his speech concluding the budget debate in the National Assembly (NA), Aurangzeb also relaxed conditions on foreign travel bans and introduced a 75% tax on non-filers. These measu
Carpet manufacturers have cautioned the government that if exporters are included in the normal tax regime, as per budget proposals, all exporters will be forced to shut down their businesses. While expressing concern during a visit to the Lahore Chamber of Commerce and Industry (LCCI) on Tuesday, members of the Pakistan Carpet Manufacturers and Exporters Association, led by Shahid Hassan Sheik