The government on Tuesday fixed a new minimum sugar price for collecting sales tax, which will increase the per kilogram price by Rs10 to Rs15 while generating an additional Rs90 billion annually in taxes for authorities facing a yawning revenue shortfall. The Federal Board of Revenue (FBR) has issued a new statutory regulatory order (SRO) to revise the per kilogram sugar price for the purpose
Additional US tariffs on Chinese imports are set to reach 104 per cent on Wednesday, the White House told AFP, as Washington doubles down on planned action after Beijing vowed a “fight to the end” on levies. US President Donald Trump had vowed a further 50pc tariff on goods from China if Beijing did not retract upcoming retaliation — and the White House confirmed that Trump will proceed with th
Prime Minister Shehbaz Sharif on Tuesday said that if Pakistan managed to harvest its mineral reserves that valued “trillions of dollars”, it could allow the country to say farewell to global financial institutions like the International Monetary Fund (IMF), as he delivered his address at the Pakistan Minerals Investment Forum 2025 (PMIF25). The two-day forum, hosted by Pakistan, commenced at t
The board of directors of Pakistan International Airlines (PIA) has approved its financial results for 2024, which show the airline achieving a net profit after around 21 years, a PIA spokesperson said on Tuesday. According to the results for FY2024, PIA earned an operational profit of Rs3.9 billion and a net profit of Rs2.26bn. The airline’s operating margin was more than 12pc, which is
PAKISTAN’S stock market has a much better idea than our policymakers about what has actually hit the global economy in the shape of US ‘reciprocal’ tariffs. The nation’s equity market took a severe drubbing on Monday, plummeting 7.31pc at one point despite a pause in trading triggered by activation of circuit breakers to prevent panic selling and extreme volatility, following a steep drop in st