KARACHI: Consumers have not shown any enthusiasm to pre-book or lift vehicles on cash despite the Economic Coordination Committee of the Cabinet’s decision to increase the sales tax to 25 per cent from 18pc. The caretaker government has yet not issued a statutory regulatory order (SRO) to enforce the hike in general sales tax on locally produced vehicles of 1,400cc and above carrying ex-factory
The cut-off yield for short-term treasury bills has risen by 126 basis points on the back of inflationary pressures as hopes fade away for cut in the State Bank of Pakistan’s policy rate. The auction of treasury bills, held on Wednesday, saw a sudden jump in the three-month T-bills, surprising many even though it was not improbable. On Wednesday, the cut-off yield for three-month T-bills was
ISLAMABAD: With immediate effect, the government on Wednesday slashed profit rates on all, but two, national savings instruments including those in the so-called Sharia-compliant papers. The returns on two savings instruments that were kept unchanged at 20.5 per cent for now included a conventional savings account and a Sarwa Islamic Savings Account (SISA). The reduction in returns has come
KARACHI: The stock market turned in a flat performance in a cautiously traded session on Tuesday given persistent political and economic challenges amid a lack of clarity on the future direction of the country in the near term. Topline Securities said the market began trading on a positive note and the benchmark KSE-100 index hit an intraday high of 777.77 points to 61,237.51. However, it could
ISLAMABAD: The Federal Board of Revenue has collected Rs5.150 trillion from July 2023 to mid-February 2024, compared to Rs3.973 trillion over the same period last fiscal year, reflecting a 30% growth. Tax refunds increased by over 28% during this period, as stated in a press release issued by the finance ministry on Tuesday. Domestic tax growth has been approximately 40%, while import duty and