Prime Minister Shehbaz Sharif on Tuesday supported the idea of a fixed tax regime for the IT sector in the upcoming budget and also constituted a committee in this regard. Chairing a meeting, which was attended by Finance Minister Ishaq Dar and IT Minister Syed Amin-ul Haque, the prime minister also approved a $4.5 billion IT export target for 2023-24. Among others, the meeting was also part
Accommodating the demands of the coalition partners, the PML-N-led National Economic Council (NEC) on Tuesday tentatively approved an overall development budget of Rs2.709 trillion, almost 24 per cent higher than the current year’s budget estimates of Rs2.19tr. This includes a federal public sector development programme (PSDP) of Rs1.15tr, including Rs200bn for public-private partnership and c
Despite a reduction in the price of liquefied petroleum gas (LPG) notified by the Oil and Gas Regulatory Authority (Ogra) for the current month, consumers continued to get the fuel at inflated rates. The regulator decreased the price of indigenous LPG by about Rs37 per kg, reducing the cost of an 11.8kg domestic cylinder by almost Rs437 or 16pc for June. It had fixed the LPG price at Rs197
The rupee turned in a mixed performance on Tuesday as it recovered to Rs303 in the open market, but suffered slight losses in the interbank market due to persisting confusion about the country’s economic direction. However, the dollar’s quoted price was lower than the available price. Currency dealers said the price was not lower than Rs306 per dollar while availability of the dollar was not co
Ministry of Commerce has announced a list of 57 products for barter trade with Afghanistan, Iran and Russia to save the country’s foreign exchange at a time when its foreign exchange reserves are running low. The commerce ministry through SRO642 on Tuesday notified a list of goods eligible for import and export under barter trade with Afghanistan. However, only imports are allowed under the sc