ISLAMABAD : The coalition administration is prepared to publish the federal budget for the fiscal year 2023–2024 today, with an expected spending of more over Rs14.5 trillion, despite continuous political and economic challenges. The National Assembly will hear the budget address at 4 p.m. from Finance Minister Ishaq Dar. TheContinue Reading
South Korea (APP) – The Asian Development Bank (ADB) has advised Pakistan to provide targeted subsidies to reduce inflationary pressure on people, implement necessary structural reforms, and increase the tax-to-GDP ratio in order to exit current uncertain economic situations and steer the economy towards a sustainable growth trajectory. In aContinue Reading
After the federal cabinet approved the mini-budget of Rs. 170 billion, the administration has decided to seek Senate and National Assembly approval of the Supplementary Finance Bill 2023 tomorrow (Wednesday). Sources told ProPakistani on Tuesday that the government is empowered to impose regulatory duties and additional customs duty (ADCs) onContinue Reading
Tuesday, telecom sector officials informed the National Assembly Standing Committee on Information Technology and Telecommunication. The conference, which was chaired over by legislator Naz Baloch, highlighted grave concerns over the country’s inadequate communication services. The telecom industry’s profit margins have shrunk dramatically as a result of the current economic downturn,Continue Reading
Following a multi-million rupee fraud, banks have been told to halt processing mobile import levies via phone and internet banking. Is it, however, a wise precaution?Continue Reading
With import restrictions relaxed and export subsidies removed, the SBP’s reserves of $4.82 billion seem alarmingly low. ISLAMABAD : The State Bank of Pakistan’s liquid foreign reserves fell $294 million in the past week, falling to an eight-year low of $5.82 billion on December 23rd, 2022. The SBP increased interestContinue Reading
Another company, Pak Suzuki Motor Company Limited, has announced that its manufacturing plant would be closed from January 2 to January 6. Pakistan Suzuki Motors told the Pakistan Stock Exchange (PSX) in writing that car and motorbike production would be suspended from January 2 to January 6.The central bank’s prohibitionContinue Reading
Today, the Pakistani Rupee (PKR) fell to an all-time low versus the US Dollar (USD) and lost ground in the interbank market.It fell 0.85 percent versus the US dollar today, closing at Rs. 194.18 after losing Rs. 1.65 in the interbank market. During today’s open market session, the rupee reachedContinue Reading
The Securities and Exchange Commission of Pakistan (SECP) has suggested that the Sindh government repeal the stamp tax on insurance services and remove personal lines of Non-Life Insurance Business from Provincial Sales Tax beginning July 1, 2022.In this regard, the SECP has proposed budget suggestions to the Sindh government (2022-23)Continue Reading
KARACHI (A News) – The KSE-100 index tumbled more than 1100 points in intraday trade, indicating a pessimistic trend on the Pakistan Stock Exchange. The stock market began the trading week on a sour note, with the Dow Jones Industrial Average reaching 42,424, down more than 1100 points. On theContinue Reading