The salaried class in Pakistan paid Rs. 375 billion in taxes last year. This figure is expected to rise to Rs. 450 billion this year, according to recent data. The salaried individuals continue to be the largest contributors to the national tax pool. In stark contrast, the retail sector’s tax contributions are significantly lower. Only …
Tag Archives: inflation
Freelancers in Pakistan Struggle Amidst Internet Disruptions and Inflation
Pakistan’s freelance community is facing severe challenges due to ongoing internet disruptions, which have significantly impacted their ability to work and maintain client relationships. As the country grapples with inflation and economic strain, these issues are further exacerbating the difficulties faced by freelancers. Recent disruptions have led to a surge in complaints from freelancers who …
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SBP Holds Policy Rate Steady at 22%
SBP Maintains 22% Policy Rate: Monetary Policy Statement In its recent announcement, the State Bank of Pakistan (SBP) upheld the policy rate at 22 percent after careful evaluation of economic conditions. The announcement was made after the meeting of Monetary Policy Committee in Karachi on Monday March 18, 2024 Despite a decline in inflation since …
Govt Reduces Petroleum Prices by Up to Rs30 per Litre
The federal government of Pakistan, led by the Pakistan Democratic Movement (PDM), has announced a reduction in the prices of petroleum products (POL) by up to Rs30 per litre. The government took this decision after a fall in the international oil rate. The price of petrol, in international market is decreased by Rs12 per litre …
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IMF deal uncertainty causes rupee to decline
IMF’s new demands weigh on Pakistani rupee. The Pakistani rupee faced a significant drop during Wednesday’s trade as the market reacted nervously to news that the International Monetary Fund (IMF) had made “new demands” of the federal government. The currency fell 4.61 or 1.73% against the US dollar to close at 266.11 in the interbank …
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Govt slashes petrol price by Rs5 per litre
Petrol Price Decreased by Rs5 per Litre for the Next Fortnight by Govt. The federal government has announced a decrease in petrol prices by Rs5 per litre for the upcoming two weeks to provide relief to the masses who are already burdened by inflation. In a press conference held on Tuesday, Finance and Revenue Minister …
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Gas Prices to Increase by 74% – OGRA
The inflation rate is not stopping at any moment for the people of Pakistan. Oil, flour, pulses, meat, chicken, and vegetables all have witnessed huge jumps in prices. Now another inflation bomb dropped on the people of Pakistan because of the decision that Oil and Gas Regulatory Authority (OGRA) took. OGRA decided to increase sui …
Pulses and Oil Containers Stuck at Port
Inflation rates are rising day by day in every corner of the world. Pakistan is not exempted from this crisis as well. The foreign reserves are down to $4.5 billion but the expenses are imports on the way are worth billions of dollars as well. It is reported that Pakistan might suffer a pulse crisis …
Pakistan Economic crisis impact and tsunami of inflation
Pakistan has been facing an economic crisis in recent years, which has been exacerbated by high levels of inflation. Inflation is the sustained increase in the general price level of goods and services in an economy over a period of time. When the general price level rises, each unit of currency buys fewer goods and …
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Pakistan International Airlines Increases Ticket Fares
Pakistan International Airlines and private airlines have jacked up ticket prices, both domestic and international. the reason for this price hike is because of a huge gap between supply and demand. Furthermore, Pakistan international airlines increased the prices because of the holiday season as well. Christmas, Winter, and New Years’ holidays are right around the …
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