TODAY it will be the third day of a line-by-line deliberation over the budget in both the National Assembly and the Senate committees, and the revenue plan brought by the government is sparking a justifiable pushback by the lawmakers. Nobody likes taxes, so any plan to raise taxes anywhere will raise objections. But some objections carry more merit than others. In this budget, the government is
Careem will suspend its ride-hailing service operations in Pakistan from July after nearly a decade in the industry, its CEO announced on Wednesday, adding that its journey in the country would continue “in a different role”. Mudassir Sheikha, Careem’s CEO and co-founder, shared a post on LinkedIn announcing “a new chapter” for the company. “It is with a heavy heart that I share this update:
The American Business Council (ABC) of Pakistan on Wednesday voiced strong concerns over new tax measures and expanded arrest powers for tax officers included in the Finance Bill 2025-26, warning that the changes could undermine investor confidence and disrupt business operations. The council, which represents US investors and multinational companies, urged the government to reconsider the Fede
Prime Minister Shehbaz Sharif on Wednesday formed a high-level committee to promote cashless economy and speed up the process of digitisation. The committee, chaired by the prime minister himself, will review the progress and initiatives related to the promotion of digitisation and cashless economy on a weekly basis. Chairing a meeting in this regard, the prime minister directed the author
The government borrowed over Rs915 billion from banks on Wednesday, but the unscheduled treasury bill auction triggered speculation about the sudden need for this amount. The State Bank reported that bids for the short-term T-bills for 22 days totalled Rs1,900 billion, while the government raised Rs915.6bn. This reflects both the government’s immediate needs and the surplus liquidity in banks.