The Federal Board of Revenue (FBR) has released its annual report for the financial year 2023-24, highlighting Karachi as the largest contributor to national tax revenue, Express News reported on Tuesday. According to the report, the Karachi Grand Excise Office collected Rs2,522 billion in taxes, including Rs1,360 billion in income tax, Rs136.3 million in federal … Read more
The KSE-100 index of the Pakistan Stock Exchange (PSX) is expected to maintain its upward momentum in 2025, driven by low single-digit interest rates. According to AKD Securities, the index is expected to register a strong return of 55.5% next year, supported by strong profitability in the fertilizer sector, improving sustainable return on equity (ROE) … Read more
The KSE-100, the benchmark index of the Pakistan Stock Exchange (PSX), is expected to continue its upward trajectory in calendar year 2025 (CY25), with an expected return of 55.5% (49% in USD), driven by lower interest rates and improving macroeconomic stability. , according to a report by AKD Securities. The index is expected to reach … Read more
Who said kids aren’t interested in movies anymore? According to the National Association of Movie Theater Owners’ new report, “The Power of Theatrical Movie Watching,” Generation Z remains passionate about movies: Among 10- to 24-year-olds, going to a movie on the weekend was the No. 1 favorite activity, Regardless. Of time and money. The report … Read more
IslamabadAs 2024 draws to a close, China and Pakistan continue to strengthen the successful partnership aimed at enhancing Pakistan’s renewable energy capacity. The two countries are cooperating on several solar projects, primarily under the China-Pakistan Economic Corridor (CPEC). Over the past year, China and Pakistan have strengthened public-private cooperation to finance and develop renewable energy … Read more
Islamabad: Pakistan’s telecommunications industry faced significant setbacks in foreign direct investment (FDI), contributions to the national exchequer, and overall investments during fiscal year 2023-2024, highlighting the broader economic challenges facing the country. According to the annual report released by the Pakistan Telecommunication Authority (PTA) on Monday, foreign direct investment in the sector fell by 21% … Read more
Islamabad: Startups that participated in the first season of Shark Tank Pakistan are reportedly under investigation by the Federal Board of Revenue (FBR) over potential tax discrepancies. This news came to light through a LinkedIn post written by Ahmed Raouf Issa, CEO of Telemart, who revealed that several startups from the show have received tax … Read more
The World Bank Board of Executive Directors is preparing to approve the second Karachi Water and Sanitation Services Improvement Project (KWSSIP-2) on Thursday. According to a $240 million report by Business Recorder, the project aims to provide safe water and sanitation services in Karachi while improving the financial and operational performance of the Karachi Water … Read more
Asian banks, including those in Pakistan, must balance financial inclusion goals, consumer empowerment and financial literacy initiatives, according to the latest scorecard issued by Fair Finance Asia (FFA). Titled scorecard Empowering consumers as drivers of sustainability in the financial sector in Asiameasures the policies of 15 banks across Pakistan, Cambodia, Indonesia, the Philippines, and Thailand … Read more
Pakistani banks are adding new fees on some savings accounts to discourage deposit inflows, as they seek to boost their loan-to-deposit ratio to avoid a punitive tax from the government. Meezan Bank Limited, the country’s largest bank by profit, said in an email to its customers that it would impose a 5% monthly fee on … Read more