The Federal Board of Revenue’s (FBR) Large Taxpayer Office (LTO) in Karachi has set a historic record by achieving an unprecedented tax collection milestone at the close of the financial year. For the first time in history, Karachi’s LTO recorded a staggering 48% increase in tax collection for the month of June, amassing a total...
The federal government of Pakistan has decided to eliminate the Rs. 35 Pakistan Television (PTV) fee charged on electricity bills, offering relief to millions of consumers. The decision, directed by Prime Minister Shehbaz Sharif, is set to be formally announced soon after a high-level meeting next week. This move aims to ease the financial burden...
Pakistan’s automotive sector is reeling from significant price hikes following the implementation of the Climate Support Levy (CSL) under the new auto policy. For the first time, all locally assembled hybrid, petrol, and diesel vehicles are subject to this tax, aimed at reducing carbon emissions. The levy has led to substantial price increases across major...
The State Bank of Pakistan has recently revealed shocking insights in a report concerning the country’s banking sector, highlighting low balances in the majority of commercial bank accounts. Based on the report, more than 51% of bank accounts contain less than Rs. 5,000, indicating a major challenge for the nation’s financial landscape. The statistics also...
The Pakistan Stock Exchange (PSX) maintained its upward trajectory on the third trading day of the week, Wednesday, buoyed by a confluence of favorable news from both the international and domestic fronts. Despite experiencing some intra-day fluctuations, the benchmark KSE-100 Index closed significantly higher, signaling a renewed surge in investor confidence. Some key events played...
The Sindh Health Department has officially set the minimum monthly wage at Rs. 37,000. Employees hired during the COVID-19 pandemic in 2019 will also have a monthly salary of Rs. 37,000. Formal orders have been issued, ensuring that all nursing staff recruited during the pandemic will receive this revised salary starting from July 2025. The...
The Pakistan Stock Exchange (PSX) experienced its second-largest single-day surge in history as news of a potential de-escalation in the Iran-Israel conflict boosted investor confidence. The KSE-100 Index opened with a significant gain of over 4,000 points, starting the day at 120,499 points. During trading, the momentum was so strong that at one point, the...
Cotton, a vital crop for Pakistan’s agricultural industry, faces a severe threat from an unprecedented heatwave sweeping across the majority of the country’s cotton-growing regions. This hike in temperatures is expected to cause a significant 5 to 10 percent drop in per-acre yield, according to industry experts. Ahsan-ul-Haq, the chairman of the Cotton Ginners Forum,...
The new Federal Budget of 2025-26 has come under stinging criticism by Jamaat-e-Islami Karachi, with its Ameer, Munam Zafar Khan, calling it a “riddle of words and figures” that goes significantly against the megacity’s immediate needs. Addressing a press conference at Idara Noor-e-Haq, Munam elaborated carefully on the budget’s deficiencies, especially its effects on Karachi’s...