Pakistan’s top tax machinery is working on several proposals to eliminate tax exemptions worth billions of rupees in the Budget 2024-25 as prerequisites to secure an agreement with the International Monetary Fund on a new bailout package, Dawn learnt from official sources on Thursday. The Federal Board of Revenue (FBR) has prepared a document for tax exemption withdrawal based on internal worki
ISLAMABAD: The government is mulling a move to introduce a carbon tax on petroleum and similar products, amid a push for an integrated general sales tax (GST) from the International Monetary Fund to achieve the true spirit and benefits of the value-added tax (VAT) for documentation and digitisation. Sources told Dawn that carbon tax was one of the measures being deliberated that could also hel
Pakistan Stock Exchange (PSX) on Wednesday saw a U-shaped recovery, driven by multiple encouraging factors including the prime minister’s announcement to privatise state-owned enterprises (SOEs), which helped the KSE-100 index to scale new all-time highs. Earlier, the trading session began on an optimistic note, when the market extended the previous day’s bullish momentum. Pakistan would pri
Bulls extended their record-setting spree for a fourth consecutive session on Wednesday, tossing the benchmark KSE 100 index to an intraday record high above 75,000 as foreign investors continued cherry-picking amid an improved economic outlook. Topline Securities Chief Executive Mohammad Sohail said the PSX was experiencing an unprecedented rally, setting new records at a breathtaking pace.
Pakistani currency on Wednesday ticked down Rs0.08 and closed at a two-week low at Rs278.26 against the US dollar in the inter-bank market apparently on the back of speculation that the government would let the rupee depreciate further to win the next International Monetary Fund (IMF) loan programme by July 2024. According to the State Bank of Pakistan’s (SBP) data, the rupee had closed at Rs27