The Pakistan Business Forum (PBF) has opposed restricting public facilities to ineligible citizens for not filing tax returns, saying the proposed law appeared to be against fundamental rights enshrined in the constitution. In a statement, the PBF — a non-profit association of country-wide trade and industry — instead proposed that tax returns should be simplified to a one-pager as was the case
Amid the growing need for financing to meet external debt repayment obligations, the government has arranged a $300 million loan from United Bank Ltd (UBL). According to a press release issued on Monday, UBL had arranged and financed a $300m short-term loan for the government of Pakistan through its UAE and Bahrain branches. While the government is trying to arrange more financing for its de
Pakistan’s economy grew by a modest 0.92 per cent in the first quarter (July-September) of the current fiscal year, a steep fall from 2.3pc recorded in the same period last year. The PML-N-led coalition government claims economic revival, but first-quarter figures tell a different story compared to the growth recorded during the caretaker setup last year, according to data released by the Natio
Pakistan’s equity market ripped higher in 2024, carrying the KSE-100 index to its record peak as the economic fundamentals stabilised and the State Bank started cutting interest rates. The benchmark index climbed to 116,169 points on Dec 17 (before settling down to 110,246 points on Friday) from 64,661 points on Jan 1. This compares with the previous peak of around 52,000 points achieved in 201
It took a lot of high taxes and the removal of a bunch of subsidies, but Pakistan managed to secure $7bn from the IMF. As usual, the prime minister expressed the idle hope that this would be the last time we take the begging bowl to the lender of the last resort. Bulls in the lead The benchmark KSE-100 Index provided a gain of 75pc from January 01, 2024, till December 20, 2024, including div