As the government awaits the International Monetary Fund's (IMF) position on the mini-budget, the Minister of State for Finance, Ali Pervaiz Malik, announced on Thursday that tax notices are being sent to Pakistan's wealthiest 5,000 non-filers, with an expected revenue collection of Rs7 billion. Following a desk audit of transaction data for 200,000 non-filers, the top 5,000 high-net-worth indi
Shares at the Pakistan Stock Exchange (PSX) crossed yet another all-time high of 94,000 on Thursday as bulls regained control of the trading floor, with analysts attributing the record to strengthening macroeconomic stability. After snapping its record-breaking streak on Tuesday, the PSX bounced back a day ago, recovering only 131 points as investors indulged in value-hunting. The benchmark
Bank Alfalah on Thursday informed its shareholders that it has withdrawn its offer to acquire Samba Bank (SNB). In a stock filing, Bank Alfalah said it had withdrawn its public announcement of intention (PAI) to acquire a majority stake in Samba Bank Ltd. “The State Bank of Pakistan (SBP) had granted BAFL in-principle approval for the due diligence of Samba concerning the proposed acquisition
The draft of the National Electric Vehicle Policy (NEVP) 2025-30, which includes substantial tax breaks for imports, aims to transform the country’s automotive landscape from fossil fuels to green alternatives. However, assemblers feel the liberal imports of EVs would hurt local manufacturing. One of the salient features of the policy draft suggests that the NEV category passenger vehicles (car
The foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $84 million to $11.258 billion during the week ended on Nov 8, announced the central bank on Thursday. Reports appeared in media suggest the government is still unable to rollover the loans from China, Saudi Arabia and the UAE. The threat of repayment of total $26.2bn in FY25 could not be addressed, so far. T