As per the announcement for the federal budget 2024-25, Pakistan will have to finance a budget deficit of Rs8,500 billion. This is such an important and staggering figure, yet no one recognises its real impact. We have been told that it is 8% of the GDP, but no one tells us that it is actually 45% of the total budget for 2024-25. To add some spice to it, a total of Rs7,800 billion will be financed
Stocks faltered on Friday, the last session of the outgoing fiscal year, despite the passage of the tax-laden budget 2024-25, which set the course for the smooth securing of a new IMF loan. Initially starting on a positive note, the benchmark KSE 100 index came under pressure and failed to sustain bullish momentum as investors took profits amid predictions of a spike in inflation. Ahsan Meha
At first glance, the new budget appears to show no significant tax rate hikes, but the removal of exemptions valued at up to Rs1.6 trillion will heavily impact the public. The budget’s architect has aimed to shift the financial burden onto the general populace while also prioritising the sale of loss-making state-owned enterprises (SOEs). Although the sale of SOEs might help reduce government e
THE tax-heavy budget for the next fiscal year approved by parliament on Friday will make the life of average Pakistanis even harder and further deepen the trust deficit between the ruled and the rulers as it imposes an array of additional taxes that will directly hit low- to moderate-income households. The government has unloaded additional taxes of Rs1.7tr to meet its ambitious tax revenue tar
Auto sector players are optimistic about China’s BYD entering Pakistan in collaboration with Hub Power Company Ltd (Hubco) to locally assemble electric vehicles (EVs), which could benefit exports. “[The] Entry of BYD in Pakistan should be looked at from a global perspective instead of [a] regional one,” GM Marketing Division, MG JW Automobiles Syed Asif Ahmed told Dawn from Lahore. He said C