Automakers in Pakistan have been launching various promotions to boost sales. In a similar move, Yamaha has unveiled an exciting new campaign called “Yamaha Mega Wins”.
The International Monetary Fund (IMF) is urging Pakistan to impose taxes on stationery items in the upcoming fiscal year’s budget. The IMF has requested the federal government to remove tax exemptions on books, pens, paper, sticky notes, cardboard, and other stationery products. This proposal will be discussed by the Federal Board of Revenue (FBR) with Prime Minister Shehbaz Sharif soon, according to local media reports on Wednesday.
Additionally, the government is already considering implementing a sales tax on tractors, pesticides, and other essential agricultural products. Currently, pesticides and their active ingredients registered by the Department of Plant Protection are exempt from sales tax.
The IMF has also advised Pakistan to increase the advance tax on the purchase of immovable properties. The FBR currently imposes a 3 percent tax on filers and a 10.5 percent tax on non-filers, having collected Rs. 80 billion this year. The lender has now directed an increase in advance tax specifically for non-filers.
Furthermore, the IMF has expressed concerns about the escalating financial losses of State-Owned Enterprises (SOEs) and urged Pakistan to divest from them.
In addition, the IMF wants Pakistan to generate an additional Rs. 1.3 trillion in taxes next fiscal year, significantly raising the FBR’s annual revenue target to Rs. 12.3 trillion.
The world’s largest cargo ship, MSC Anna, is scheduled to reach Karachi Port today, marking a significant milestone for the port.
The Oil and Gas Regulatory Authority (OGRA) has announced the new prices for re-gasified liquefied natural gas (RLNG) for Sui Northern Gas Pipelines Limited (SNGPL) and Sui Southern Gas Company Limited (SSGCL) effective May 1, 2024.
During the first ten months (July-April) of fiscal year 2023-24, Pakistan borrowed $7.142 billion from various financing sources, compared to $8.123 billion during the same period in 2022-23, according to data from the Economic Affairs Division (EAD).
Pakistan has agreed to sell 15% of its shares in the Reko Diq project to Saudi investors, reducing its stake from 50% to 35%.
The IMF mission returned to Washington without a staff-level agreement on the new bailout package.
Pakistan International Airlines Corporation Limited (PSX: PIAA) will officially close its books at the Pakistan Stock Exchange (PSX) on May 25, 2024, as per a stock filing dated May 16, 2024
Pakistan’s IT sector has been accelerating monthly, reaching a record high of $310 million in April 2024—an all-time monthly peak
The International Monetary Fund (IMF) has instructed Pakistan to raise the advance tax on the purchase of immovable properties in the upcoming budget.
The upcoming federal budget (2024-25) will introduce new rates for duties and taxes on black tea imports.
In a significant relief for consumers, the government has announced a substantial decrease in fuel prices across Pakistan.
