PM Shehbaz announces 10pc ‘super tax’ on large-scale industries – Pakistan

Prime Minister Shehbaz Sharif announced on Friday that the government would impose a 10% “excess tax” on large industries to increase income to support the poor amid rising inflation. taxable industries cement steel sugar oil and gas Fertilizer LNG terminal textile banking car tobacco drink chemistry airline Individuals with high net worth are also subject … Read more

PSX crashes after PM Shehbaz announces ‘super tax’ on industries – Business

The Pakistan Stock Exchange (PSX) plummeted minutes after Prime Minister Shebaz Sharif announced a 10% tax on large industries. The exchange remained unchanged two hours after the opening bell rang. However, at 11:40 a.m., the KSE-100 plunged 1,598 points to 41,100. As of 12:00 PM, the KSE-100 index fell 2,053 points (4.8%). Depending on the … Read more

No choice other than IMF-dictated budget, NA told – Pakistan

ISLAMABAD: Senator Sherry Rehman on climate change, who accused the former Pakistani Tehreek-i-Insaf (PTI) regime of putting the country on the brink of bankruptcy, said on Wednesday the coalition had no choice but to submit a budget. International Monetary Fund (IMF) Oral and Conditions. “This is absolutely the IMF budget. There is no doubt,” said … Read more

PML-N’s Leghari presents Punjab budget in parallel session at Aiwan-e-Iqbal as deadlock continues – Pakistan

PML-N MPA Sardar Awais Leghari presented Punjab’s fiscal year 2022-23 budget at a budget session held at Aiwan-i-Iqbal, Lahore on Wednesday. held at the same time in the local council. A parallel meeting was held after the government and the opposition failed to resolve their differences. This may be the first time that individual meetings … Read more

PES 2022: Ballooning balance of payment deficit dampens Pakistan’s growth story – Business

Finance Minister Miftah Ismail released the 2021-22 Pakistan Economic Survey (PES), showing a growth rate of 5.97% compared to the target of 4.8%. However, the growth story of this country, which recovered from the pandemic during economic downturn and maintained a V-shaped recovery with real GDP growth of 5.97%, contracted in the face of a … Read more

At pre-budget huddle, PM Shehbaz stresses need for charter of economy – Business

Prime Minister Shehbaz Sharif on Tuesday stressed the need for an economic charter, saying all stakeholders must work together in formulating a framework to achieve economic growth. He made these remarks while speaking at a one-day pre-budget business conference hosted by the government to explore the path to consensus-based economic action. In his speech, the … Read more