In a significant development, the provinces have agreed to expand the scope of sales tax to include a wide range of services from the next fiscal year. This action is in line with the International Monetary Fund (IMF) requirements under the Staff-Level Agreement reached for a new $7 billion credit line. All four provinces have made a written commitment to transition the services from a positive
The International Monetary Fund (IMF) on Tuesday maintained Pakistan’s growth forecast at 3.5 per cent for the current fiscal year but indicated slower global disinflation to keep pressure on the masses amid higher for even longer interest rates. The IMF’s unchanged growth forecast at 3.5pc previously made in April this year has been reinforced almost a week after its staff reached an agreement
Pakistan Stock Exchange (PSX) experienced volatility in the outgoing week as it oscillated between red and green zones and closed with a slight fall of nearly 270 points. The market’s fluctuation was largely influenced by investor worries over harsh taxation measures, including the potential imposition of up to 45% tax on agriculture, ahead of a new International Monetary Fund (IMF) loan progra
Despite a surge in remittances and automobile sales, the stock market closed the week on a negative note due to uncertainty about the economic outlook amid growing political noise following the apex court’s landmark decision on reserve seats and new conditions imposed by the International Monetary Fund (IMF). Surprisingly, the IMF announced on Saturday morning that it had reached a Staff-Level
The PML-N led federal government has finally notified a phenomenal increase in power tariff for all consumers including those served by the K-Electric—a hike that is going to affect millions of power users across the country. The Power Division on Sunday issued the notification for the increase in the basic electricity tariff, raising the basic tariff for domestic consumers by up to Rs7.12 per