In the 1930s, John Maynard Keynes argued that lower tax rates can sometimes increase government revenues. He wrote in his 1933 book The Means to Prosperity: “Nor should the argument seem strange that taxation may be so high as to defeat its object, and that given sufficient time to gather the fruits, a reduction of taxation will run a better chance than an increase of balancing the budget.” Mor
In the wake of recent economic reforms, Pakistan has seen encouraging signs of macroeconomic recovery. Inflation is on the decline, the rupee has remained relatively stable, and remittances have picked up. The government’s fiscal discipline, supported by timely decisions around interest rate management, energy pricing, and the International Monetary Fund-programme compliance has helped rebuild con
Despite projected remittance inflows of $38 billion in the current fiscal year (FY25), Pakistan’s per expatriate remittance remains significantly lower than that of peer countries. “Although remittances have grown at a compound annual rate of 6.1 per cent from 2013 to 2023, per expatriate remittance remains low in comparison to other countries in the region,” said a report released by the Polic
US President Donald Trump backed away on Sunday from his threat to slap 50 per cent tariffs on imports from the European Union next month, agreeing to extend the deadline until July 9 for talks between Washington and the 27-nation bloc to produce a deal. Trump on Friday said he was recommending a 50pc tariff go into place on June 1 because of frustration that talks with the EU were not moving q
Promising simplified tax returns for the salaried class, Finance Minister Muhammad Aurangzeb on Monday pledged that the upcoming federal budget would introduce “bold measures” to steer the national economy in a strategic direction and make available whatever support is required by the armed forces. Talking to journalists after an event organised by the Pakistan Banks Association and Karan