Declaring amnesty schemes hinder the entire taxation system, Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial has revealed that not even the wealthiest top five per cent of the country are paying their taxes. Addressing the members of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI), Mr Langrial expressed optimism that the interest rate may be further reduced b
Leaders of the Shanghai Cooperation Organisation (SCO) on Wednesday reaffirmed their strong support for China’s Belt and Road Initiative (BRI), despite India blocking a consensus on the sweeping infrastructure project. However, all member states unified in the criticism of Western unilateral sanctions and protectionist trade practices. A joint communique issued at the end of the 23rd Counci
The International Monetary Fund (IMF) has urged Pakistan to invest one per cent of its GDP annually — equivalent to over Rs1.24 trillion based on current estimates — in climate resilience and adaptation reforms to prepare for recurring extreme weather events, particularly floods, and sustain economic growth and reverse inequalities. In a special policy advisory, the IMF noted that ongoing refor
Despite bearish sentiment overnight, the stock market resumed its bullish trend on Tuesday as investors engaged in value-hunting, focusing on the Shanghai Cooperation Organisation (SCO) summit, propelling the KSE 100 index to an all-time high, closing above 85,500. Ahsan Mehanti of Arif Habib Corporation said stocks closed bullish in the earnings season rally led by blue-chip scrips as in
The world’s total public debt is set to exceed $100 trillion this year for the first time, and may grow more quickly than forecast as political sentiment favors higher spending and slow growth amplifies borrowing needs and costs, the International Monetary Fund (IMF) said on Tuesday. The IMF’s latest Fiscal Monitor report showed global public debt will reach 93 per cent of global gross domestic