Amid easing geopolitical tensions and strong anticipation of relief for the agriculture sector in the upcoming budget, the stock market attracted renewed buying interest. Overnight, Minister for National Food Security and Research Rana Tanveer Hussain stated that his ministry is actively working on eliminating the 18 percent general sales tax on local cotton in the upcoming budget. According
Adviser to the Finance Minister Khurram Schehzad on Thursday said that no decision has been made to postpone the federal budget for the fiscal year 2025-26, clarifying that the previously announced date of June 10 remains unchanged. Amid media reports claiming that the budget had once again been rescheduled due to the Eidul Azha holidays, Schehzad wrote on X today that no decision has been made
Federal Minister for Petroleum Ali Pervaiz Malik has proposed the inclusion of dealers in a committee to thrash out rules related to the Petroleum Act of 1934. In a meeting with the oil sector stakeholders at the Pakistan State Oil (PSO) head office on Thursday, the minister discussed issues like dealer margins with Abdul Sami Khan, Chairman of the Pakistan Petroleum Dealers Association (PPDA).
The Senate Standing Committee on Finance and Revenue has approved the Income Tax (Second Amendment) Bill 2025 and sought a report from the Federal Board of Revenue (FBR) on tax deduction from teacher salaries. The committee meeting, chaired by Senator Saleem Mandviwalla, focused on the withdrawal of tax exemptions for salaried individuals, particularly teachers, whose salaries faced significan
Foreign exchange reserves of the State Bank of Pakistan (SBP) increased by $70 million to $11.516 billion during the week ended on May 23, the central bank announced on Thursday. The SBP needs to generate an additional $2.5bn to reach the revised $14bn target by the end of the current fiscal year. However, the currency experts expressed doubt that the SBP could achieve the goal in the last mon