National News

Stocks post decade-high weekly gains

  • US stocks

    Stocks post decade-high weekly gains KARACHI: Investors heaved a sigh of relief as the stock market posted recovery after snapping the seven-successive-week selling spree that had seen the stocks plunge 14pc with the KSE-100 index settling at three-year low around 33,167 points. In the outgoing week, bulls returned with a vengeance to charge in all […]

  • Opposition divided on NAB chairman’s resignation demand

    Opposition divided on NAB chairman’s resignation demand ISLAMABAD / LAHORE: The country’s two major opposition parties — the PML-N and the PPP — which have been crying foul over the ongoing accountability process for the past couple of years and have not missed any opportunity to target the National Accountability Bureau (NAB) — have adopted […]

  • Govt likely to reverse tax concessions for salaried class

    Govt likely to reverse tax concessions for salaried class ISLAMABAD: The government looks set to reverse tax concessions extended by the PML-N government to benefit high-earning salaried and non-salaried individuals substantially more than the middle-class workforce. “We are considering reverting back to the income tax brackets applicable in the tax year 2017,” an official source […]

  • FBR eyes Rs775bn in fresh taxes next fiscal year

    FBR eyes Rs775bn in fresh taxes next fiscal year ISLAMABAD: According to a detailed revenue plan drawn up by the tax bureaucracy, and shared with the International Monetary Fund in the last round of meetings, the government is aiming to introduce new tax measures equal to Rs775 billion in the forthcoming budget for the fiscal […]

  • Pakistan reaches agreement with IMF, to receive $6 billion over 3 years

    Pakistan reaches agreement with IMF, to receive $6 billion over 3 years The technical teams of the government and the International Monetary Fund (IMF) have reached an agreement on a bailout package for Pakistan, Adviser to Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh announced on Sunday. “After months of discussions […]

  • Aleema Khanum did not benefit from tax amnesty on Dubai flat, SC told

    Aleema Khanum, Prime Minister Imran Khan’s sister, did not benefit from a tax amnesty scheme on a flat in Dubai — Inland Revenue Service (IRS) Commissioner of Lahore Dr Ishtiaq Ahmed Khan told the Supreme Court on Saturday. During a hearing of the suo-motu case regarding Pakistani citizens maintaining foreign accounts without disclosing the same […]