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PSX closed showing a decline of 18pts
Karachi, June 24, 2020: Market traded in a narrow range between +108 points and -115 points, closing the session -18 points. Activity remained dull throughout the session, primarily due to absence of a strong trigger ahead.During the session, news of trade surplus added a bit of excitement but selling pressure kept the prices in check….
PSDP shrink 18 pc for F21
Islamabad, June 12, 2020: The Federal government has cut the Public Sector Development Programme (PSDP) 2020-21budget by 18 percent for the next fiscal year (FY21). The Public Sector Development Programme (PSDP) is the main instrument for improving the socio-economic conditions in the country and achieving the macroeconomic and development objectives and targets set by the…
Pakistan’s telecom sector highest taxes
Quratulain Y Azher Islamabad, June 9, 2020: Tax payments and fees on mobile consumers and operators in Pakistan are among the highest in developing Asia, said Global System for Mobile Communications (GSMA) in its report. Accordingly, customers various accounts of taxes including GST of 17 to 19.5 on mobile services, Rs 300, 1,000 on handsets,…
FPCCI recommendation to simplify rules and revenue generation
Today Pakistan has a lower tax-to-GDP ratio as compared to regional and other countries, which is causing serious disparity between various sectors of the economy. All the segments of the society are not contributing their due share of tax on their income in accordance with their contribution in GDP. For example industrial sector contributes 20.3…
Zakat as part of Islamic Finance and Economy
Chairman Centre of Advisory Services for Islamic Banking and Finance (CAIF), Former Head of FSCD SBP, Former Head of Research Arif Habib Investments and Member IFSB Task Force for Development of Islamic Money Market, Former Member of Access to Justice Fund Supreme Court of Pakistan. Zakat, one of the five pillars of Islam, means giving…