As parliament authorised the federal government on June 28 to impose over Rs1.7 trillion in additional taxes for the current fiscal year, it was also compelled to retrospectively approve a record Rs9.4tr for expenditure overruns and re-appropriations, nearly five times more than the previous year’s amount. This massive overspending occurred despite claims of austerity and tight fiscal control b
The Pakistan Stock Exchange (PSX) achieved a historic milestone on Wednesday as the KSE-100 index closed at 80,233.67 points, marking the first time it has ended a session above the 80,000 mark. This significant surge follows a continued bullish trend, with the index gaining 680 points from the previous session. During intra-day trading, the index reached a high of 80,193.76 points at 11
The benchmark KSE-100 index climbed 627.99 points, or 0.79 per cent, to stand at 80,180.87 points from the previous close of 79,552.88. Finally, the index closed at a record-high 80,233.67, up by 680.79 points or 0.86pc, from the previous close. On Tuesday, the index had crossed the 79,000 milestone for the first time in its history. Analysts attributed the bullish trajectory to surging global
The Pakistan Stock Exchange (PSX) achieved a milestone on Wednesday, with the KSE-100 index crossing the 80,000 points during intra-day trading reaching 80,193.76 points at 11.28 AM, gaining 640.88 points from the previous session close of 79,552.88 points. This surge follows a continued bullish trend, with the index having crossed the 79,000 points mark on Tuesday. The market's upward momen
In yet another shock to the tax-bitten masses, the government on Wednesday approved up to 51% or Rs7.12 increase in the per-unit price of electricity from July, the highest raise in terms of percentage for the lower income groups. In one go, 32.5 million consumers, mainly households, will be forced to pay an additional amount of at least Rs580 billion in this fiscal year. The rate is over and a