ISLAMABAD: Interim Prime Minister Anwaarul Haq Kakar has approved new fiscal austerity measures, including a ban on creating new positions and major purchases. However, the impact of these measures may be limited, as the government spends more than its total net income just on interest payments. A complete ban on creating new posts under the Public Sector Development Programme (PSDP) and the cu
Japan’s Nikkei 225 on Thursday finally broke through a record high set just before the country’s asset bubble catastrophically burst in the early 1990s. The index of blue-chip stocks hit a peak of 39,156.97, beating the record of 38,957.44 set in December 29, 1989, before easing to 39,098.68 points at the end of trading, its highest closing level. By doing so the Nikkei finally broke through
KARACHI: The National Bank of Pakistan (NBP) on Thursday informed its shareholders that its profit-after-tax (PAT) surged by over 72 per cent to Rs53.32 billion (earnings per share at Rs24.96) in 2023 from Rs30.95bn in 2022. However, the board of directors did not recommend any cash dividend. The bank informed the shareholders that the profit soared due to a massive increase in interest inco
KARACHI: The board of directors of Indus Motor Company (IMC) has approved an investment of around Rs3 billion for additional localisation of parts and components of various existing vehicles. The investment is planned to be completed by the third quarter of 2025, the company said in a stock filing on Thursday. The fresh investment is part of the company’s overall plan to continuously increas
ISLAMABAD: The Federal Board of Revenue (FBR) has initiated the process of gathering tax proposals from all stakeholders for consideration in the upcoming budget for the fiscal year 2024-25. Three different notifications were issued on Thursday to solicit feedback from all taxpayers, including chambers of commerce and industries, associations, and trade bodies. All proposals should reach the FB