The stock market snapped a three-day losing streak on Thursday as selective value-hunting helped the benchmark KSE 100-share index close the session in the green territory. Ahsan Mehanti of Arif Habib Corporation said the World Bank’s reaffirmation of collaborating with Pakistan in structural reforms and sustainable development contributed to the PSX’s mild recovery. After completing his thr
Pakistan is engaging the Chinese leadership for the revival of more than 1800-megawatt of hydropower projects (HPPs) and investment from fresh Chinese companies in the country’s transmission and distribution network as part of the second phase of the China-Pakistan Economic Corridor (CPEC). The authorities are trying their best to convene a meeting of the Joint Cooperation Committee (JCC) of th
The attorney general’s office has written a letter to the Federal Board of Revenue (FBR) chairman over the poor performance of the tax body’s legal teams in courts. The letter pointed out “mishandling or mismanagement” of cases relating to revenue matters on part of the bureau’s counsels causing heavy revenue losses to the national exchequer. The letter from the AGP office regretted that whe
The international survey agency has blamed the Federal Board of Revenue (FBR) for overburdening the taxpaying sectors due to its failure to reform and broaden the tax base. “FBR does not conduct sector-based surveys and studies to assess the ground realities, and the fact is that there is a visible trust deficit between the FBR against the taxpayers as well as the potential taxpayers,” Abdul Sa
Amid lacklustre auto sales overall, the Korean assembler’s record Rs1.5 million price cut has worked, as the company earned billions in just a few days. Lucky Motor Corporation Ltd (LMCL) reduced the price of Kia Stonic to Rs4.767 million from Rs6.280m on April 29, thus waking up cash-rich investors and consumers to make windfalls even after paying “premium or on-money” up to Rs500,000 for inst