While the people are still trying to gauge the real impact of the new budget on their lives, an interaction with the man on the street revealed that 40 per cent Pakistanis living below the poverty line had a feeling the government had left them to fend for themselves. Finance Minister Muhammad Aurangzeb said nothing about tackling poverty in his budget speech, disappointing the have-nots who
Some pre-budget optimism emerged at the Pakistan Stock Exchange (PSX) on Wednesday as the KSE-100 index rebounded following two consecutive sessions of significant declines. The upturn followed Finance Minister Muhammad Aurangzeb’s assurance to the nation of efforts to stabilise the economy ahead of the federal budget presentation. Earlier, the trading session began with a spike but soon inv
The stock market ended its seven-session losing streak on Wednesday before the budget announcement, buoyed by optimism about the government’s privatisation plan and debt rollover talks with China. Ahsan Mehanti of Arif Habib Corporation said equities showed recovery after Finance Minister Muhammad Aurangzeb affirmed at the Economic Survey 2023-24 presser that state-owned enterprises’ privatisat
Pakistan has planned to borrow a minimum of $23 billion in the next fiscal year, including the rollover of a bilateral debt of $12 billion, to finance its swelling development plan and meet the nation’s external financing requirement. Budget documents for fiscal year 2024-25 showed that Pakistan would borrow at least $23.2 billion, or Rs5.9 trillion, which did not include any loan from the Inte
The federal government increased the tax rate for both salaried and non-salaried taxpayers in the federal budget for the next financial year, placing a cumulative burden of Rs75 billion on the salaried person, Rs150 billion on the non-salaried individuals. The budget proposed a maximum tax rate of 35% for the salaried persons, and 45% for non-salaried individuals. The minimum threshold of Rs50,