As part of pre-budget consultations with stakeholders, Finance Minister Muhammad Aurangzeb on Tuesday promised to shift the tax burden away from the salaried class and documented sector to others through digitisation, and hinted at major steps towards the compulsory use of digital payments to maximise a cashless economy and increase documented transactions. A Ministry of Finance team, led by th
In a major policy departure, the National Electric Power Regulatory Authority (Nepra) on Tuesday approved K-Electric’s request to incorporate unrecovered bills into its consumer tariff — starting with a recovery shortfall of 6.75 per cent in 2023-24, gradually declining to 3.5pc by 2029-30. Nepra set K-Electric’s base tariff at Rs40 per unit for the fiscal year 2023-24, which is almost 40pc hig
The chairman of the Senate standing committee on finance and revenue, former finance minister Senator Saleem Mandviwalla, said on Tuesday that the upcoming budget will further burden the people due to an increase in the petroleum levy. He was also critical of the Federal Board of Revenue’s (FBR) performance, especially in terms of the Tajir Dost Scheme (TDS). Under the TDS, taxes were to be
Bears continued their stampede on Monday at the Pakistan Stock Exchange (PSX) as shares declined by more than 600 points in intraday trade. The benchmark KSE-100 index declined by 886.10, or 0.74 per cent, to stand at 118,216.57 from the last close of 119,102.67 at 1:13pm. At 3:04pm, the index decreased by 642.92 points, or 0.54pc, from the last close. Mohammed Sohail, chief executive of
US President Donald Trump is back from his Middle East trip; his first major overseas visit after assuming office in his second tenure. The visit resulted in commitments of more than $2 trillion of investment from the oil-rich Gulf Arab states. Yet a question is making the rounds: Would all those commitments materialise, especially in the backdrop of a subdued oil market and growing budgetary pres