The federal cabinet on Tuesday formed a new inter-ministerial committee to come up with final recommendations on restructuring the Federal Board of Revenue (FBR) within a tight deadline of four days to minimise differences among different tax groups. The proposed reforms were developed in closed-door consultation with a select group of people led by Caretaker Finance Minister Shamshad Akhtar. I
Normalisation of diplomatic ties with Iran and reports about the government’s plan to settle down circular debt revived investors’ interest in the energy sector helping the benchmark KSE 100 share index to close the session near 64,000 on Monday. Topline Securities said the index commenced the week on a positive note as significant buying momentum was seen during the latter half of the trading
The government is set to hold the second auction of Sukuks at the Pakistan Stock Exchange (PSX) on Tuesday, aiming to raise new domestic debt worth Rs100 billion after securing financing at a comparatively low price in the first auction held last month at the bourse. The government has decided to gradually increase the number of auctions of its bonds through PSX, considering that investors – bo
As the automotive industry reflects on the challenges of 2023, opinions among auto experts diverge on whether 2024 should be designated as the “Year of Localisation” for sustainability. While some advocate for a collective commitment from Original Equipment Manufacturers (OEMs) to invest in local production and technology, others argue for a more globally integrated approach. Speaking to The Ex
Industrialists have demanded that the government provide a level-playing field to all players of the local industry aimed at bolstering economic growth. They slammed the prevailing banking laws, mentioning the unilateral focus on interest recovery and discretionary powers that primarily benefitted banks and lending institutions. Despite entrepreneurial efforts to expand businesses, many find th