Amid 38 per cent inflation and uncertain exchange rates, stakeholders have ruled out a pro-consumer budget for 2023-24. The government tried to help the masses by cutting the diesel price by Rs35 per litre followed by a drop of Rs80 per kg/litre in ghee/cooking oil rates at utility stores. However, exorbitantly high electricity bills continue making the lives of people miserable. Pakistan Bu
The pre-budget rally remained in full swing on the Pakistan Stock Exchange (PSX) as share prices rose on Wednesday amid positive triggers. Topline Securities said expectations of major incentives for technology companies in the upcoming budget as well as news reports suggesting a potential deal between the government and the global oil giants about establishing the customs-bonded storage facili
Noted development economist Dr Kaiser Bengali has said attempts to mobilise revenue through income tax on agriculture won’t generate a substantial amount given the average farm size in the country. Speaking to journalists after holding a training workshop on budget reporting at the Karachi Press Club on Wednesday, Dr Bengali said a majority of growers work on small farms and earn barely enough
While it works to increase revenue collection from all other sectors, the government is said to be considering a proposal seeking the continuation of tax concessions — granted by the PTI government — on the manufacture of hybrid electric vehicles in the upcoming federal budget. Sources privy to the development told Dawn that the government is considering keeping the policy, which amounts to a t
The government is likely to resort to heavy taxation on the banking sector in the 2023-24 budget as Islamabad looks for easy sources of revenue in a fiscally challenged environment. “We believe the 2023-24 budget will likely carry more negative earnings implications for banks,” said Amreen Soorani, head of research at JS Global. There’s a likelihood of super tax increasing from the current l