Pakistan’s top tax machinery is confronted with a big dilemma of nil-filers, which has reached an alarming level of 68 per cent of total income tax returns in the tax year 2023, Dawn has learned from official sources. This presents a significant challenge for the government in identifying individuals not paying their taxes, with 2.3 million out of 3.4 million potentially concealing their taxabl
The Senate’s Standing Committee on Economic Affairs criticised the State Bank of Pakistan (SBP) during a meeting on Monday for leniency in penalising commercial banks involved in Rs65 billion heist through unauthorised higher charges on opening of letters of credit (LCs) for imports at the height of a foreign exchange crisis in 2022. The meeting, presided over by Senator Saifullah Abro, sought
Bulls continued their stampede at the Pakistan Stock Exchange (PSX) as shares rallied more than 900 points on Wednesday, which analysts attributed to improvement in economic indicators. The benchmark KSE-100 index climbed 1,031.13 points, or 1.3 per cent, to stand at 80,522.26 points from the previous close of 79,491.13 points at 3:20pm. Finally, the index closed at 80,461.33, up by 970.20, or
THE International Monetary Fund’s (IMF) executive board is set to meet next week to discuss the approval of a three-year Extended Fund Facility (EFF) for Pakistan ending in the fiscal year 2027-28 — the 24th time the country is going to enter into an agreement with the lender. There seems to be a broad consensus that it is in Pakistan’ s best interests to exit from the IMF programme. The reason
RARELY have I seen a situation like this one. The economy is finding an uneasy and shaky stability; as inflation peaks, the exchange rate looks like it might well stick, the backlog of unpaid dividends is being cleared, interest rates are on a downward trajectory from here on, the current account has returned to surplus, reserves are stable and so on. The list can get as long as one wants. But