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The latest report by CEOWORLD magazine has unearthed a staggering wage gap on a global scale, with Pakistan emerging at the bottom with the world’s lowest average salary. According to the report comparing gross average monthly wages across countries using current exchange rates, Pakistanis earn an average of $132 USD (PKR 36,736) per month. This […]
Companies operating within the Gwadar Free Zones can now conduct trade transactions with the rest of Pakistan in Pakistani rupees (PKR) according to the recently passed federal budget 2024-25. This shift from US dollars (USD) is expected to shield businesses from currency fluctuations. Previously, all trade between the Gwadar Free Zones considered a special economic […]
Pakistan’s skilled workforce is migrating at an alarming rate, with a staggering 119% increase in highly skilled professionals leaving the country in 2023 compared to the previous year. Fueled by political and economic instability, this trend raises concerns about the nation’s long-term development prospects. While migration offers benefits like remittances and cultural exchange, the loss […]
Pakistan’s total debt and liabilities have reached an alarming new peak, raising concerns about the country’s fiscal health. According to data released recently, the national debt has ballooned to nearly Rs.81 trillion (approximately $467 billion USD). This staggering figure represents three-fourths of Pakistan’s entire economy and surpasses the limit set by the Fiscal Responsibility and […]
In response to the ongoing genocide in Gaza, Pakistani consumers have taken a stand by boycotting international brands perceived to be financially supporting the situation. This movement has led to a surge in support for local businesses, with several companies introducing innovative products to cater to the needs of boycotting consumers. Gaza crisis? Pakistani brands […]
Prime Minister Shehbaz Sharif has announced the decision to privatize all state-owned enterprises, with the exception of strategically important entities. This announcement came during a review meeting in Islamabad, where the Prime Minister emphasized that all enterprises, whether profitable or loss-making, will be privatized, excluding strategic state-owned enterprises. What’s the impact of privatization? During the […]
Pakistan’s Federal Board of Revenue (FBR) has implemented a significant increase in withholding tax for individuals who haven’t filed their income taxes. In a move aimed at boosting tax revenue and expanding the tax net, the FBR has raised the withholding tax from 2.5% to a substantial 90% on mobile phone recharges for non-filers. No […]
In recent news, the Prime Minister of Pakistan, Shehbaz Sharif, has emphasized the need for enhancing revenue collection in the country. He believes that with collective efforts, Pakistan could surpass even larger economies like India. This call comes amidst concerns over the country’s significant tax evasion problem, estimated to be around Rs.5.8 trillion annually, accounting […]
Telenor’s Norwegian CEO Sigve Brekke recently revealed in an interview that the challenges of doing business in Pakistan were one of the main reasons behind the company’s decision to exit the market. Brekke highlighted the difficulties of repatriating profits as a critical factor influencing investor decisions to leave the country. However, he contrasted this with […]
Earlier this week, the Pakistan Stock Exchange (PSX) made history by crossing the 70,500 points mark for the first time ever. The PSX’s primary indicator surged an impressive 229.86 points, leaving investors in awe. Bullish trend brings joy to PSX investors! The trading session was marked with heightened activity, indicating a significant rise in investor […]
