Pakistani textile firms are reportedly receiving additional export orders from global buyers due to rising costs and political instability in competitor Bangladesh, along with international restrictions on China. As a result, the industry's exports hit a 26-month high of $1.64 billion in August 2024, marking a significant 13% increase compared to the same month last year. In a commentary titled
Federal Board of Revenue (FBR) Spokesperson Bakhtiar Muhammad announced on Thursday a nationwide initiative aimed at increasing tax compliance. The department will conduct seminars to educate taxpayers, and following this campaign, strict penalties will be imposed on those who fail to comply with tax regulations. Speaking to PTV News, he explained that through seminars, workshops, and media out
The International Monetary Fund (IMF) on Thursday distanced itself from Pakistan's decision to arrange the most expensive foreign commercial loan of $600 million and said that any such move was not linked to its requirement for securing approval for a $7 billion bailout package. "To our knowledge no commercial financing at 11% has been undertaken and if there is such it does not necessarily for
Finance Minister Senator Mohammad Aurangzeb has announced that the government will eliminate the term “non-filers” and impose strict penalties on those who fail to declare their income. These individuals will face significant restrictions that will impact their daily activities. In an interview with VOA on Thursday, the minister stated that the government has gathered extensive data on non-file
Shares at the Pakistan Stock Exchange (PSX) on Thursday witnessed selling pressure, shedding more than 500 points. The benchmark KSE-100 index declined by 589.95 points, 0.72 per cent, to close at 81,657.96 points from the previous close of 82,247.91 points. However, it is important to note that the index hit a life-time high in opening trade, rising to a record high of 82,905.73 points befo