The Federal Board of Revenue (FBR) on Tuesday issued the much-delayed Statutory Regulatory Order (SRO) imposing an 18 per cent sales tax on the import of cotton fibre, yarn, and grey cloth, following sustained pressure from the All Pakistan Textile Mills Association (Aptma). The tax measure, which aligns with commitments made in the federal budget for 2025-26, comes nearly a month after the bud
The International Monetary Fund (IMF) on Tuesday raised its global growth forecasts for 2025 and 2026 slightly, citing stronger-than-expected purchases ahead of an Aug 1 jump in US tariffs and a drop in the effective US tariff rate to 17.3pc from 24.4pc. It warned, however, that the global economy faced major risks including a potential rebound in tariff rates, geopolitical tensions and large
The Pakistan Stock Exchange (PSX) opened the week on a bullish note, briefly crossing the 140,000-point mark, but failed to sustain momentum due to profit-taking. The benchmark KSE-100 index closed marginally higher at 139,380.06, gaining 172.77 points or 0.12 per cent on Monday. Ali Najib, Deputy Head of Trading at Arif Habib Ltd, said another attempt by the PSX to break past the 140,000 psy
Amid a hike in sugar price, the Public Accounts Committee was informed on Tuesday that the sugar mills have earned Rs300 billion due to recent fluctuations in the rates of the essential commodity. The Auditor General of Pakistan made these revelations during the meeting of the apex parliamentary panel, which convened the high-stakes session to review the sugar import and export policy, rising p
After four consecutive hikes, petrol and diesel prices are expected to fall by about Rs9 and Rs3.50 per litre, respectively, for the upcoming fortnight ending Aug 15, owing to lower international oil prices and reduced import premiums, sources said on Tuesday. Based on prevailing tax rates, the ex-depot price of petrol is estimated to decline by around Rs9 per litre (3.3 per cent), while high-s