Cotton ginners across the country have gone on an indefinite strike to protest against new taxes and an “exorbitant” rise in the power tariff for ginning units. A general body meeting of the Pakistan Cotton Ginners Association (PCGA) held in Sukkur on Sunday decided to immediately suspend the procurement of raw cotton and delivery of the ginned lint to spinning units across the country as a pro
Despite trade and industry’s criticism of the tax-laden budgetary proposals for the next fiscal year, the Pakistani share market on Thursday staged an unprecedented single-day rally of almost 4 per cent in the post-budget session, lifting the index to a record closing above 76,000 closing. Speaking with Dawn, Aqeel Karim Dhedhi, a veteran stockbroker and chairman of AKD Group, attributed the
FINANCE MINISTER Muhammad Aurangzeb on Thursday expressed his ‘resolve’ to increase Pakistan’s tax-to-GDP ratio to 13pc in the next three years. Addressing a post-budget media briefing, he said: “Our basic principle while framing this budget was to expand the tax base.” Given this statement and his earlier declaration at the launch of the Economic Survey that “countries cannot be run on charity
A contractionary budget during an economic crisis results in tighter belts all around. How has the budget impacted your household expenditure in the coming year? (The results of the survey will be published in B&F's special report on the budget)
Foreign exchange reserves of the State Bank of Pakistan decreased by $6 million to $9.103 billion during the week ended on June 7. According to the SBP, the reserves could see a further drop in next two months due to debt servicing in the first quarter of FY25. The State Bank said the total liquid foreign reserves held by the country stood at $14.383bn as of June 7. Net foreign exchange rese