Businessmen were not happy with the 100 basis points interest rate cut announced by the State Bank of Pakistan (SPB) on Monday, saying they were expecting a substantial reduction of 300-500bps for the revival of economic activities. Abdul Aleem, Secretary General and CEO of the Overseas Investors Chambers of Commerce and Industry (OICCI), said the drop in interest rate was positive, but “we exp
The Federal Board of Revenue has released specifics on Monday for the collection of tax on the earnings of builders and real estate developers, as well as details for collecting income tax from other sources as legislated in the 2024-25 budget. Income tax circular No.1 of 2024-25 was published to explain the implementation of important amendments in the Income Tax Ordinance 2001. Section 7F has
The country witnessed the highest-ever outflow of profit and dividends by foreign investors in FY24 since FY18 as the State Bank of Pakistan (SBP) had to clear the backlog under pressure from the International Monetary Fund, China and others. Profits and dividends outflows recorded an almost seven times increase to $2.215 billion in FY24 from just $331 million in the preceding fiscal year. This
How does the stock market grow when participants exit and defy fundamental economic principles? In essence, the stock market operates similarly to a casino — individuals cannot guarantee a win but continue to place their hopes on it, holding out for that one elusive jackpot. News headlines frequently announce that the KSE 100 index has crossed thresholds with significant increases. While, over
Battered by the last four years of pandemic, record inflation, long-drawn-out wars and high interest rates, the global economic outlook continues to be lacklustre. In its latest World Economic Outlook update, the International Monetary Fund (IMF) forecasts that the global economy will grow 3.2 per cent this year, down a tick from 3.3pc growth last year. From 2000 through 2019, before the pandem