The Punjab Revenue Authority (PRA) has achieved a significant milestone by collecting revenue of over Rs239 billion in financial year 2023-24, up 20% compared with total receipts of Rs200.1 billion last year. The final collection for FY24 is likely to rise further after the settlement of civil accounts, according to a statement issued by the PRA on Monday. “This is a great achievement as it
Gas consumers across the country did not get any relief in the new fiscal year as the Pakistan Muslim League-Nawaz (PML-N) government declined on Monday to pass on cut in the tariff proposed by the Oil and Gas Regulatory Authority (Ogra). The regulator, on the other hand, announced an increase in prices of liquefied petroleum gas (LPG) from July 1, 2024. According to an Ogra notification, domes
Shares at the Pakistan Stock Exchange (PSX) climbed more than 300 points in on Monday on expectations of expectations of a new deal with the International Monetary Fund (IMF). The benchmark KSE-100 index climbed 704.08 points, 0.9 per cent, to stand at 79,149.04 at 11:15am from the previous close of 78,444.96 points. Finally, the index closed at 78,824.33, up by 379.37 or 0.48pc, from the previ
The government claims it is unable to do much to appease the business community given the current circumstances, even if it wishes to. The business community’s tough stance towards the budget was expected. Although the government asserts it is in talks with business leaders, significant revisions in fiscal policy are unlikely. Therefore, minor adjustments to reverse or scale down certain taxati
Pakistan’s National Electricity Policy 2021 pledges that a “sustainable renewable energy market shall be developed, with a progressively increasing share in power generation as per the Indicative Generation Capacity Expansion Plan (IGCEP) based on the least cost principle.” However, the latest IGCEP 2024-34 iteration, which outlines the country’s future energy generation strategy over a 10-year