The government slashed treasury bill rates by up to 62 basis points in the auction held on Wednesday, but the amount raised fell short of the target. According to data released by the State Bank of Pakistan, the auction attracted Rs1.121 trillion from investors, but the government remained below the Rs225 billion target, raising only Rs184.6bn. A significant change occurred in the cut-off yi
In line with commitments with the multilateral lenders to contain ever-rising pension bill, the government has started inter-ministerial consultations for major pension reforms including reduced benefits in commutation and regular payments for existing pensioners and the beginning of a contributory pension scheme for current employees. A senior official at the Ministry of Finance told Dawn that
The Federal Board of Revenue (FBR) has evolved a simplified scheme for taxing the indicative incomes of traders, retailers and specified persons as part of the documentation to reduce the size of the informal economy. The tax department projects that the newly proposed scheme could potentially generate an income tax revenue ranging from Rs400 billion to Rs500bn. The details of the new taxati
BEIJING / ISLAMABAD: China has said it is ready to work with Pakistan to upgrade the China-Pakistan Economic Corridor (CPEC) and accelerate the building of an even closer China-Pakistan community with a shared future in the new era. Separately, caretaker Prime Minister Anwaarul Haq Kakar said after having achieved the first phase of CPEC, Pakistan is benefiting from its early harvest projects
Despite early volatility, the Pakistan Stock Exchange (PSX) managed to notch up significant gains on Tuesday, surpassing the 64,000 barrier in a rally powered by the strengthening rupee and foreign corporate inflows. In the morning, the bourse made a bearish start and dropped to its intra-day low at 63,549.60 points. The dip came on the back of selling pressure, which emerged following the Mini