A staggering 15 million individuals, including agricultural income earners, are currently not paying any tax, the Federal Board of Revenue chairman disclosed on Wednesday. “This figure represents a significant portion of the population that remains outside the tax net,” Zubair Tiwana told a meeting of the Senate Standing Committee on Finance. It was chaired by Senator Saleem Mandviwalla.
The escalating war in the Middle East has changed forex market sentiments as investment inflows dried up creating dollar shortages in banks resultantly the greenback started to appreciate amid strong demand, especially from importers. Bankers dealing in the currency market said the importers were unable to find dollars even at a rate higher than quoted in the banking market. “Banks have
The trading floor of the Pakistan Stock Exchange (PSX) witnessed a wave of profit-taking on Tuesday following a sustained rally that took the benchmark to a multi-year high. Topline Securities Ltd said investors chose to book profits as soon as trading began. There was an extended rally in energy sector stocks in anticipation of a hike in gas tariffs for the last few days. The expected hike was
As they say, “make hay while the sun shines”. The origin of the proverb may have been different for medieval English farmers, however, it applies to rooftop solar installations in Pakistan. The utility prices of electricity have significantly increased in recent years due to various reasons, including but not limited to decades-old inefficiencies and missteps, that have plagued the power sector
About 70 per cent of women engineering graduates residing within the country are either unemployed or out of the labour force, a study has found. The research, jointly conducted by Gallup Pakistan and PRIDE using data from the Labour Force Survey 2020-21, found that 20.9pc of a total of 28,920 women engineering graduates were unemployed. About 50.9pc of them were out of the labour force while o