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
Food and agricultural experts have stressed that failing to take appropriate initiatives could severely impact the future generations of the country due to rising food shortages and malnutrition resulting from various factors. They highlighted that Pakistan is facing numerous challenges regarding food insecurity and malnutrition, which stem from issues such as poverty, limited access to clean wate
The Power Division, on Tuesday, claimed that it had met the target of freezing circular debt at Rs2.310 trillion as of December 21, 2023, in its efforts to manage the power sector and address technical and commercial losses. The Power Division secretary informed a meeting of the Senate Standing Committee on Power, chaired by Senator Azam Nazeer Tarar, about this achievement. The Secretary of t