Politicians belonging to the ruling coalition as well as the opposition reaffirmed unwavering support to the China-Pakistan Economic Corridor project on Wednesday, terming it a lifeline for the country’s economy. The speakers made this observation at a mutltiparty moot held at Pakistan-China Institute on Wednesday. Senator Mushahid Hussain Syed, chairman of the institute, termed ties with Ch
The Federal Board of Revenue’s (FBR) nearly five-month tax registration drive in 42 cities has brought thousands of traders onto the tax roll, but an average income tax collected from an individual under the Tajir Dost Scheme (TDS) is around Rs2,432 per month. Despite contributing 20pc to the gross domestic product, the tax contribution of the retail and wholesale sector stands at a mere 4pc. T
In an interesting observation, National Electric Power Regulatory Authority (Nepra) Chairman Waseem Mukhtar on Wednesday asked the power companies to downplay Rs1.89 per unit additional quarterly tariff adjustments on account of the fourth quarter (April-June) of FY24 and instead project only 96 paise per unit increase. During a public hearing on fuel cost adjustment (FCA) for July, the Nepra c
The economy suffered substantial trade losses due to a countrywide strike called by the business community against high power bills and increasing tax burden on Wednesday, overshadowing claims of a major victory, while industrial activities exhibited a mixed trend due to various factors. Industrialists’ bodies supported the strike by traders, while also urging the government to revise contracts
The stock market continued its southward journey on Tuesday amid growing security concerns and economic uncertainty about securing the IMF board’s approval for the new loan programme. Additionally, a nationwide strike call by the opposition for August 28 against the rising cost of electricity, gas, food, etc., supported by all the major chambers and traders associations across the country, depr