The government has raised the sales tax from 17 per cent to 25pc on 33 categories of goods covering 860 tariff lines, high-end mobile phones, imported food, decoration items, and other luxury goods. The Federal Board of Revenue (FBR) late on Wednesday night issued SRO297 of 2023 to implement the last part of the Rs170 billion tax revenue measures to unlock the IMF tranche. The government has
In a surprise, State Bank of Pakistan (SBP) Governor Jameel Ahmad told a parliamentary panel that the recent increase of 300 basis points in its policy rate was a decision of the Monetary Policy Committee (MPC) of the central bank and not done on the demand of the International Monetary Fund (IMF). Testifying before the Senate Standing Committee on Finance and Revenue, the SBP governor reporte
Amidst a lack of fresh triggers, the capital market on Tuesday remained range bound which led the benchmark KSE100 index to lose 99.64 points to conclude the session at 41,334.69. The investors opted 'wait and see' approach as additional conditions pertaining to the balance of payment put forth by the IMF, according to news reports. The Index traded in a range of 194.44 points or 0.47 perce
China’s Foreign Minister Qin Gang on Tuesday reiterated that the Belt and Road Initiative (BRI) was a high-quality public good initiated by Beijing, “built by the parties involved, and shared by the world”, with over three-quarters of countries across the globe and 32 international organisations having joined it already. In his first appearance after assuming the office three months ago, Qin ad
The coalition government has managed to add a net Rs7.2 trillion to the debt pile in only the first seven months of this fiscal year – an average of Rs34 billion per day. The accumulation of debt is now nearly three times more than the gap between federal income and expenditures. The State Bank of Pakistan (SBP) on Tuesday released the central government’s debt bulletin until January 2023, show