US President Donald Trump’s steep tariff hike targeting Chinese goods, which took effect on Thursday, brings Washington’s additional rate on many products to 145 per cent, the White House has confirmed. Trump’s 90-day halt in fresh duties for dozens of countries has come into place, a White House order showed.But he has also doubled down by raising new tariffs on Chinese imports to 125pc, a fig
The Federal Board of Revenue (FBR) informed the National Assembly that the salaried class has become the third largest contributor to tax payments, with overall collections experiencing significant growth over the past three years. The FBR has provided a written response to the enquiries posed by MNAs Syeda Shehla Raza, Muhammad Moin Aamer Pirzada, Ms Shazia Marri, and Naveed Aamir concerning t
Despite a massive cut in the benchmark interest rates, the private sector continued retiring loans as bank advances plunged 52 per cent in the January-March quarter. The State Bank of Pakistan (SBP) slashed its policy rate by a staggering 1,000bps to 12pc from an unprecedented level of 22pc since June 2024. The SBP data on Thursday showed that the private sector kept returning bank money it
The two gas utilities — SNGPL and SSGCL — have sought about 42 and 144 per cent increase in the prescribed gas prices, respectively, to meet their revenue requirements for 2025-26. The prescribed gas prices are revised twice a year under the law following determinations by the Oil and Gas Regulatory Authority (Ogra) on the basis of which the government sets the consumer gas prices for various c
After an overnight unprecedented bloodbath, the Pakistan Stock Exchange (PSX) showed a slight recovery as global markets rebounded from the heavy losses triggered by the US reciprocal tariffs and retaliatory measures, raising fears of a worldwide recession. Ali Najib, head of sales at Insight Securities, said the PSX exhibited some sign of recovery as the index opened with a gain of 1,100 point