Category: bussines

Alarmed by what it sees as business-hostile steps in the new budget, a key private sector body has threatened protests if the tax authority’s extended powers are not withdrawn. The Board of Governors of Economic Policy and Business Development (EPBD) says it has serious concerns about a set of sweeping powers being handed to the Federal Board of Revenue (FBR), which it believes go far beyond fair tax enforcement. In a statement, the Board said the proposed clauses under the guise of anti-money laundering laws will create a surveillance-heavy system…

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The Sindh government on Friday announced a 12% ad hoc relief in salaries for grade 1 to 16 employees and 10% for those in grades 17 to 22. Presenting the Sindh budget for the fiscal year 2025-26 in the provincial assembly, Chief Minister Murad Ali Shah, who also holds the portfolio of finance, said the pension of the retired provincial employees will also increase by 8%. It is pertinent to mention here that the federal government had increased the salaries of federal employees from grade 1 to 22 by 10%…

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Investor optimism caved in on Friday as stocks tumbled following reports of Israeli airstrikes on key Iranian military and nuclear sites, triggering concerns across global markets. “Early morning reports of an Israeli attack on Iran initially sent the equity market into a sharp decline, though some recovery has since been observed,” said Amreen Soorani, Head of Research at Al Meezan Investment. “This event has significantly escalated geopolitical uncertainty, a sentiment clearly reflected in the immediate 8% surge in oil prices. Given evolving information, the broader market reaction in the coming…

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Federal Minister for Planning and Development Ahsan Iqbal said on Thursday that Rs230 billion have been earmarked in the federal budget 2025-26 for the development of Balochistan. Addressing a press conference in Islamabad on Thursday, the minister said, development of Balochistan was being treated as a national responsibility, in line with the directives of Prime Minister Shehbaz Sharif. The initiative aims to transform the socio-economic landscape of the province over the next two years through targeted investment in critical infrastructure projects to improve connectivity. A key highlight of the development…

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The stock market ended in the red on Thursday as it reversed course from a record-breaking rally as participants moved to secure profits, moderating optimism linked to budget stability and inflow trends. “The market has been rallying for the last few sessions due to budget expectations. A mute budget which stays the path on consolidation and keeps continuity gives certainty to the market,” said Ahfaz Mustafa, CEO of Ismail Iqbal Securities. “This along with remarks by the finance minister for further rate cuts is fueling the market,” he added. The…

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Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial said on Wednesday that the country would not witness a revenue shortfall in the next fiscal year, saying the tax target set in a “conservative” manner. His statement came a day after the federal government unveiled the Rs17.57 trillion ($62.24 billion) budget. The budget targets higher revenues and a significant reduction in the fiscal deficit under International Monetary Fund (IMF)-backed reforms. The government is targeting 4.2% GDP growth in fiscal 2026, up from 2.7% this year, which was revised down from…

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Salman Ahmad, a member of the Economic Advisory Council, has said that the government is implementing a strategic rightsizing initiative aimed at cutting redundant spending, and laying the groundwork for long-term economic stability. Speaking on Geo News programme ‘Capital Talk’, he said the move, endorsed by Prime Minister Shehbaz Sharif, is part of broader structural reforms to break Pakistan’s boom-bust cycle and reduce the tax burden on citizens. He explained that wherever public funds are being spent without delivering benefits — especially in ministries devolved to provinces after the 18th Amendment…

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WASHINGTON: President Donald Trump said on Wednesday that US reached a deal with China after two days of talks. Trump said on his Truth Social platform that China would supply rare earth minerals and magnets — vital elements for US industries — while Washington would allow Chinese students to remain in US universities. His post came hours after top US and Chinese negotiators announced a “framework” agreement late Tuesday following two days of marathon talks in London. “Our deal with China is done,” Trump wrote, adding that the agreement was…

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Unveiling its annual budget on Tuesday, the federal government laid out bold plans to accelerate economic growth, a move analysts view with scepticism given Pakistan’s current economic constraints. The budget targets higher revenues and a significant reduction in the fiscal deficit under International Monetary Fund (IMF)- backed reforms. Yet, defence spending was hiked 20%, excluding military pensions, after last month’s conflict with India. Finance Minister Muhammad Aurangzeb said in a post-budget press conference on Wednesday that customs duties have been cut or removed on thousands of raw materials and intermediate…

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The Federal Budget for 2025–26, announced by Finance Minister Muhammad Aurangzeb, is attracting attention due to a series of new taxes, particularly on high-end products. The tax scope is expanding to include luxury items and clean energy imports. One of the most discussed measures is an 18% tax on imported solar panels. This decision is expected to increase prices and spark significant debate. In his speech to the National Assembly, Aurangzeb defended the tax, stating that it aims to support Pakistan’s local solar industry. However, critics are concerned that this…

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