The growth in Pakistan's major industries – the largest contributors to taxes and employment – shrank nearly 2% during the first half of the current fiscal year, indicating the adverse impact of high cost of doing business and economic stabilisation. The large-scale manufacturing (LSM) sector registered a negative growth of 1.9% during the July-December period of fiscal year 2024-25 compared wi
The government on Thursday assured a review of the imposition of an 18% sales tax on packaged milk, as it turned out that Pakistan has the highest tax on branded milk in the world and two-thirds of consumers earn less than Rs50,000 a month. The assurance to review the high tax rate was given by Minister for Finance Muhammad Aurangzeb during a meeting with the Pakistan Dairy Associationthe repr
Despite a contraction in Large-Scale Manufacturing (LSM) during the first half of the current fiscal year, equity investors remained optimistic, helping the market extend gains for the third consecutive session on Thursday. The big industry production shrank 1.87 per cent year-on-year in July-December FY25. Topline Securities Ltd said the benchmark KSE 100 index showed a positive trend, bols
Finance Minister Muhammad Aurangzeb said on Thursday that a team of the International Monetary Fund (IMF) would be in Pakistan for a four-day visit next week to take forward the discussion on a $1 billion fund for climate resilience. Pakistan has been ranked as the most vulnerable country to climate change in 2022 when it faced devastating monsoon floods that claimed over 1,700 lives, washed aw
An International Monetary Fund mission will arrive in Islamabad next week to discuss around $1 billion in climate financing for Pakistan, an adviser to the finance minister said on Thursday. Khurram Schehzad told Reuters that the mission would visit from Feb 24 to 28 for a “review and discussion” of climate resilience funding. The disbursement will take place under the Fund’s Resilience and