The new Khyber Pakhtunkhwa budget for the next financial year seems to be a smartly crafted document that commits to producing a significant surplus of Rs100 billion while proposing a slew of populist and expansionary measures in line with the ruling PTI’s election manifesto. The estimate of the budgeted provincial receipts of Rs1.75 trillion appears a bit on the ‘higher side’ as some of the re
Although Pakistan is globally ranked ninth in rice production, it claims fourth position as a rice exporter after India, Vietnam, and Thailand. This financial year ending on June 30, rice exports from Pakistan may touch the 5.8 million tonnes mark, a fraction short of the magical 6m tonnes figure, mainly because of favourable weather, availability of farm inputs, and the Indian ban on non-Basma
The repatriation of profits and dividends on foreign investments surged year-on-year by 251 per cent during the first 10 months of the current fiscal year, reflecting the State Bank of Pakistan’s relaxed policy towards dollar outflows. According to data released by the central bank on Monday, the country witnessed a profit outflow of $887 million during July-April FY24 compared to $253m in 10MF
The government is expected to revoke tax concessions that disproportionately benefit high-earning individuals over the middle-class workforce, Dawn learned on Monday. The International Monetary Fund (IMF) has advised the government to treat salaried employees’ incomes similarly to that of individuals (non-salaried) as personal income. However, the Federal Board of Revenue (FBR) disagrees and be
Oil prices rose Tuesday on tensions in the Middle East while stock markets wavered as investors awaited key inflation data later this week. Brent North Sea Crude rose 1.1 per cent to $84.03 per barrel, while West Texas Intermediate added 2.6pc to $79.72 per barrel. Meanwhile, Wall Street had a mixed day as investors returned from the three-day Memorial Day weekend. European stocks lacked