The Punjab Assembly’s Standing Committee on Excise has approved a bill amending the Punjab Urban Immovable Property Tax Act, 1958 (V of 1958) for introducing a reward mechanism for individuals, both citizens and excise officials, who report cases of tax evasion. The proposed legislation likely to sail through the House says that any person who provides credible information leading to the detect
The Pakistan Stock Exchange (PSX) came under pressure on Tuesday, with the benchmark KSE-100 index snapping its upward streak as investors opted for profit-taking amid mounting concerns over sweeping taxation measures and a nationwide strike call by trade and industry on July 19. The session opened on a positive note, driven by continued bullish sentiment from the previous day, as heavyweight
In a bid to preempt countrywide unrest, Finance Minister Muhammad Aurangzeb on Tuesday constituted a high-level committee to hold consultations with traders on budgetary measures aimed at documenting the economy. The multi-stakeholder committee will conduct a 30-day consultation process to develop a consensual and actionable proposal, which will be submitted to Prime Minister Shehbaz Sharif and
Finance Minister Muhammad Aurangzeb on Tuesday urged the leading US rating agency — Moody’s — to improve Pakistan’s credit rating and help its return to international capital markets at favourable conditions. Pakistan has been postponing the launch of international bonds since July 2021 due to challenging macroeconomic conditions and resultant poor credit rating and relying mostly on time deposits
The federal government on Tuesday hiked the price of petrol by Rs5.36 per litre and that of high-speed diesel (HSD) by Rs11.37 for the next fortnight. A press release from the Finance Division said the revised prices were based on recommendations by Ogra and concerned ministries. The new petrol price is Rs272.15 per litre and Rs284.35 for HSD. The press release did not mention any changes