ISLAMABAD: Pakistan’s tax debate often starts in the wrong place. We argue over rates, targets and quarterly shortfalls, but avoid the central problem: the design of the tax system itself. A tax regime that depends on a largely undocumented retail economy to collect revenue will keep producing distortion, leakage and resentment. That is exactly what…
Poor systems, damaging narratives are hurting Pakistan’s image among foreign investors ISLAMABAD: A few days ago, President Zardari concluded his visit to China. His engagement indicates that both countries are venturing into new areas of cooperation, from security and the economy to social development, to build a community with a shared future. The signing of…
IMF to review proposals as Pakistan seeks to reduce salaried, corporate rates and raise Rs50b ISLAMABAD: The government has shared its plan with the International Monetary Fund (IMF) to reduce salaried and corporate income tax rates, as it also considers recovering an additional Rs50 billion in the next fiscal year by charging sales tax on…
ISLAMABAD: The export of fish and fisheries products has surpassed $500 million during the current fiscal year, driven by reforms in the fisheries sector, with the government also announcing a major infrastructure plan to establish a 100?acre seafood processing and export zone at Korangi Fisheries Harbour Authority to promote the blue economy, Federal Minister for…
LAHORE: Close to Gujranwala, the rice fields are glowing soft green in the May heat. But the crop growing is not the traditional Basmati rice that farmers have planted for centuries. It is Chinese hybrid rice, born in a laboratory in Hunan, carried across the Karakoram Highway and cross-bred to thrive in Punjab’s sunshine. This…
With limited space for subsidies and a heavy reliance on indirect taxation, future budgetary measures could exert upward pressure on prices, particularly affecting urban consumers. Photo (file) LAHORE: The temporary relief given by Punjab, followed by the Sindh government, to keep markets open till late in the evening ahead of Eidul Azha has sparked hopes…
KARACHI: The KSE-100 index at the Pakistan Stock Exchange (PSX) retreated 3.2% week-on-week, closing at 165,596 points, as lingering uncertainty over the pace of US-Iran peace negotiations weighed on investor sentiment. Despite the cautious mood, several positive domestic developments provided underlying support. On a day-on-day basis, the PSX commenced the week with a range-bound session,…
Proceeds of first sustainable Panda Bond earmarked for water, energy, health sectors Finance Minister Muhammad Aurangzeb in an interview at the World Bank Spring Meetings 2026 with China Global Television Network’s program “The Heat”. PHOTO: SCREENGRAB ISLAMABAD: Federal Minister for Finance Muhammad Aurangzeb on Friday addressed the inaugural Panda Bond issuance ceremony at the Embassy…
KARACHI: Punjab’s manufacturing sector has undergone a significant structural shift over the past 50 years, moving away from traditional labour?intensive industries towards more mechanised, engineering?led and electrical manufacturing activities. Analysis of long?term industrial data from 1971?72 to 2020?21 shows a clear divergence in performance. While several older industries have stagnated or declined, sectors linked to…
KARACHI: Gold prices in Pakistan declined sharply on Friday, tracking a broad-based selloff in international markets, where bullion fell to a more than one-week low amid a stronger US dollar and rising Treasury yields. In the local market, the gold price per tola dropped to Rs476,862 after a steep decline of Rs15,500 during the day….