In yet another shock to the tax-bitten masses, the government on Wednesday approved up to 51% or Rs7.12 increase in the per-unit price of electricity from July, the highest raise in terms of percentage for the lower income groups. In one go, 32.5 million consumers, mainly households, will be forced to pay an additional amount of at least Rs580 billion in this fiscal year. The rate is over and a
In the international bullion market, the price of gold per ounce rose by $21, bringing the new global price to $2,345 per ounce. On the local front, the price of gold per tola increased by Rs800, setting the new price at Rs242,300 per tola. Additionally, the price of 10 grams of gold saw an increase of Rs686, reaching Rs207,733. Yesterday, the gold prices had remained stable in both the i
The Pakistan Petroleum Dealers Association (PPDA) has demanded the immediate withdrawal of the advance income tax within four days, threatening a nationwide strike if their demands are not met. "We have clearly stated that we will take strict action," said PPDA Chairman Abdul Sami Khan. The association represents 14,000 dealers who are poised to shut down petrol pumps across the country star
Pakistan is looking to clinch a staff-level agreement (SLA) on an International Monetary Fund (IMF) bailout of more than $6 billion this month after addressing all of the lender’s requirements in its annual budget, state minister for finance told Reuters. The country has set challenging revenue targets in its annual budget to help it win approval from the IMF for a loan to stave off another eco
Pakistan’s privatisation commission is addressing concerns voiced by those qualified to bid for the country’s national airline about a European Union Aviation Safety Agency (EASA) ban on the carrier, an official said on Wednesday. The privatisation of the loss-making state-owned enterprises has long been on the International Monetary Fund (IMF)’s list of recommendations for the country, which i