Business

Fitch Ratings, a global credit rating agency, upgraded Pakistan's long-term foreign-currency issuer default rating (IDR) from CCC to CCC+. The upgraded rating is seen as a vote of confidence in Pakistan's economic management and reform efforts. Fitch Ratings has upgraded Pakistan's credit rating from 'CCC' to 'CCC+'. This positive change is largely due to a new agreement with the International Monetary Fund (IMF), which has provided Pakistan with $7 billion in funding for the next 37 months. The IMF agreement has helped improve Pakistan's financial situation by increasing its foreign exchange reserves and reducing fiscal deficits. The deal also aims to address issues in Pakistan's tax system, energy sector, and state-owned enterprises. In the past year, Pakistan has shown strong ...

The Punjab government has introduced a new garbage tax for both residential and commercial properties across the province. Moreover, a formal notification has been issued outlining the tax rates for different property sizes and types in both rural and urban areas. This year's budget came with lots of surprises, especially for middle-class and poor people. The newest bomb is the new tax imposed on the garbage! Yes, The Punjab cabinet has decided to introduce a garbage tax for all homes and businesses in the province. Moreover, this tax will help manage and outsource waste collection services. Tax Rates The proposed tax rates are as follows Rural Areas: Small Houses (5 marlas): Rs200 per month Medium Houses (10 marlas to 1 kanal): Rs400 per month Small Businesses and S...

Pakistan has recently made a significant move to attract tourists and investors by waiving visa fees for citizens of 126 countries. This initiative can help change perceptions of Pakistan and promote it as a welcoming and accessible destination. Pakistan has announced that citizens from 126 countries can now enter the country without paying visa fees. Moreover, this change aims to boost tourism and attract more business investors. This decision is expected to: Improve country image: This initiative can help change perceptions of Pakistan and promote it as a welcoming and accessible destination. Increase tourism: By making it easier and more affordable to visit Pakistan, the government aims to showcase the country's rich cultural heritage, stunning landscapes, and warm hospitalit...