The Telecom Operators Association of Pakistan has voiced strong objections to the coalition government’s budget proposals for the fiscal year 2024-25, cautioning that the increased taxes will precipitate a mass exodus of foreign investment from the country. In a strongly-worded letter addressed to the Senate Standing Committee on Finance and Revenue, the telecom operators expressed … Read more
Islamabad, June 15: In a move to provide relief to the masses, the Pakistan government has slashed the prices of petrol and diesel by Rs. 10.20 and Rs. 2.33 per liter, respectively, effective from midnight today. According to a statement from the Prime Minister’s Office, the premier has directed the reduction in prices, deviating from … Read more
In Pakistan Budget 2024, Pakistan’s Finance Minister dedicated Rs. 4 billion to the promotion of Electric Bikes and Rs. 2 billion to the development of energy-efficient fans. Despite this significant investment, the effectiveness of the e-bike promotion is uncertain. The previous e-bike scheme launched by the government saw half of the supposed e-bikes turn out to … Read more
Check out our calculator to see how the changes to income tax rates in the 2024-25 budget, proposed by Finance Minister Muhammad Aurangzeb, will affect your take-home salaries . Read Also: Federal Budget 2024-25: Changes to Salary Tax Rates and Proposed Salary Increases Tax Calculator Enter your monthly salary here: Monthly salary: Rs Monthly Tax: … Read more
Pakistan government has proposed a whopping 100% increase in sales tax on computers and laptops. The new tax rate, which jumps from 5% to 10%, is expected to rake in an additional Rs. 3 billion in revenue. But what does this mean for consumers and the industry at large? The government’s decision to double the … Read more
In the latest Federal Budget 2024-25 announcement, Finance Minister Muhammad Aurangzeb outlined significant changes to the salary tax rates for salaried individuals. While the specific details of the new slabs were not disclosed during his speech, subsequent analyses suggest that higher taxation will affect all income levels. Read Also: Budget 2024-25: Key Highlights And Salient … Read more
Islamabad, June 12, 2024 — The federal government of Pakistan has unveiled an ambitious budget 2024-25 for fiscal Year, setting the total federal budget outlay at a substantial Rs 18.9 trillion. This comprehensive budget was presented by Finance Minister Muhammad Aurangzeb at the Parliament House today. Budget 2024-25 Outlay and Tax Targets: Total Budget Outlay: … Read more
The gold market in Pakistan has witnessed a significant surge, with the price of 24-karat gold reaching an all-time high of Rs 2,41,300 per tola (11.66 grams). This marks an increase of Rs 1,900 per tola, according to market reports. Read Also: Budget 2024-25: Proposal to Increase Tax on Bank Profits for Non-Filers Detailed Breakdown – … Read more
The Pakistani government has proposed a significant tax increase on bank profits for non-filers in the upcoming Budget 2024-25. This move aims to encourage tax compliance and boost revenue generation. Read Also: Pakistan’s Upcoming Budget 2024-25: Tax Proposals and Implications The proposed tax increase is part of the government’s efforts to broaden the tax base and … Read more
In a landmark move, the State Bank of Pakistan (SBP) has reduced the interest rate by 150 basis points to 20.5%, effective June 11, 2024. This decision marks a departure from the central bank’s previous stance, where the key lending rate remained unchanged for seven consecutive sessions. First Rate Cut in Four Years This is … Read more
