As Pakistan seeks a multibillion-dollar bailout from the International Monetary Fund (IMF) to stabilise its chronically ailing economy, the global lender has suggested imposition of a standard individual income tax rate of up to 45% on agriculture income – something that may end the disparity in income tax regime without the need to amend the Constitution. The condition is part of the structura
Minister for Finance and Revenue Muhammad Aurangzeb on Wednesday highlighted the reforms undertaken in Pakistan’s energy sector and state-owned enterprises (SOEs) including the privatisation of state companies. At a meeting with a delegation of Standard & Poor’s (S&P) Global Ratings at the Finance Division, the minister underscored the confidence shown by multilateral institutions through the p
A study of Pakistan’s power tariff for end-consumers reveals that domestic households and businesses are being unexpectedly charged hidden costs, including US inflation and interest on circular debt. These factors significantly raise the power price for end-users to unaffordable levels, necessitating the government to renegotiate power purchase agreements (PPA) with the power plant operators soon.
According to a report released by Topline Research on Wednesday, Pakistan car sales, as reported by the Pakistan Automotive Manufacturers Association (PAMA), hit an 18-month high in June 2024, recording sales of 13,300 units. This marks a 21% increase month-on-month (MoM) and a 120% increase year-on-year (YoY). The MoM increase in car sales is driven primarily by Indus Motors Company Limited (I
Pakistani currency depreciated Rs0.11 and settled at Rs278.51 against the US dollar at close of trading in the inter-bank market on Wednesday, maintaining its two-way movement for the past one week ahead of agreement on a new International Monetary Fund (IMF) loan programme. According to the State Bank of Pakistan’s (SBP) data, the rupee had closed at Rs278.40 against the greenback on Tuesday.