logo
CM Murad calls pre-budget meeting on June 13

CM Murad calls pre-budget meeting on June 13

Chief Minister Sindh Syed Murad has called the provincial cabinet's meeting on Friday, June 13, 2025, to discuss the annual budget for the fiscal year 2025-26, as well as supplementary and development expenditures.
According to a notification issued by the Services, General Administration and Coordination Department (Cabinet Section), the meeting, will now be held in the Committee Room of the Chief Minister's Secretariat, Karachi.
The meeting's agenda includes confirmation of minutes from previous cabinet and finance committee meetings, presentation of the annual and supplementary budgets, and discussion of the Annual Development Program (ADP) 2025-26.
Sindh govt to allocate 'substantial budget' for e-taxis, scooters
Key agenda items also include deliberation on the Finance Bill and proposed relief measures, with inputs expected from the heads of departments such as the Board of Revenue, Sindh Revenue Board, Excise, Taxation and Narcotics Control, Local Government, Agriculture, and Irrigation.
The Finance Secretary will present the annual and supplementary budgets, while the Chairman of the Planning and Development Board will lead the briefing on the development programme.
All cabinet members, relevant department secretaries, and senior officials have been requested to ensure their presence and come prepared with working papers and presentations, as per the notification signed by Section Officer (Cabinet) Sarang Ali Shaikh.
The notification also calls on officials to observe formal dress code and notes that 55 sets of documents must be submitted ahead of the session.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gold eases as investors await US payroll data for Fed policy clues
Gold eases as investors await US payroll data for Fed policy clues

Business Recorder

timea day ago

  • Business Recorder

Gold eases as investors await US payroll data for Fed policy clues

Gold fell on Thursday as investors held back from making significant bets, awaiting the U.S. payroll data later in the day for insights into the Federal Reserve's policy direction. Spot gold lost 0.3% to $3,346.47 per ounce, as of 0211 GMT, while U.S. gold futures edged down 0.1% to $3,357.20. Gold appears to be consolidating at present within $3,320 to $3,360 range, with the market adopting a wait-and-see approach ahead of U.S. Non-Farm Payroll and ISM Services PMI data, rather than taking significant positions, OANDA senior market analyst Kelvin Wong said. Data released by ADP showed U.S. private payrolls dropped by 33,000 jobs in June, marking the first decline in more than two years, as economic uncertainty hampered hiring. Meanwhile, low layoffs continued to anchor the labour market. Gold prices up on weaker dollar Investors are now awaiting the non-farm payrolls report on Thursday, which is expected to show an addition of 110,000 jobs in June, down from 139,000 in May, according to a Reuters poll. Meanwhile, the U.S. will impose a lower-than-promised 20% tariff on various goods from Vietnam, President Donald Trump announced on Wednesday. The Southeast Asian nation is the U.S.' tenth-largest trading partner. 'The Vietnam trade deal has likely already been priced into the market, and I think the primary concern now is the status of other deals with major economies that are still in the limbo,' Wong said. The U.S. and India negotiators pushed to finalise a tariff-reducing deal ahead of Trump's July 9 deadline. Trump has indicated no signs of extending the negotiation deadline despite stalled discussions with Japan, another key trade partner, but expressed optimism about an India deal. Non-yielding gold tends to perform well during economic uncertainty and in a low-interest-rate environment. Spot silver fell 0.6% to $36.37 per ounce, platinum lost 1.5% to $1,397.91 and palladium shed 1.4% to $1,138.73.

Dollar drifts as traders hunker down for US payrolls
Dollar drifts as traders hunker down for US payrolls

Business Recorder

timea day ago

  • Business Recorder

Dollar drifts as traders hunker down for US payrolls

SINGAPORE: The dollar wobbled on Thursday after a trade agreement between the United States and Vietnam fuelled optimism over potential future deals ahead of a July 9 tariff deadline, while investors looked to payrolls to assess the Federal Reserve's next steps. Sterling firmed slightly after a sharp drop the previous session as British Prime Minister Keir Starmer's office rushed to give Finance Minister Rachel Reeves his full backing, hoping to allay investor worries about Britain's finances. The pound dropped nearly 1% and British government bonds tumbled on Wednesday, as a tearful appearance by Reeves in parliament a day after the government backed down on its welfare reforms reignited concern over Britain's finances. The pound last fetched $1.3647, slightly higher in Asian hours, while the euro was steady at $1.1806, hovering close to the September 2021 top it touched earlier this week. The yen firmed a bit to 143.56 per dollar. The dollar index , which measures the U.S. currency against six other units, was at 96.701, still near the 3-1/2-year lows it has been rooted to this week. The index is on course for a 0.5% drop in the week. Investor attention will be on the U.S. Labor Department's comprehensive employment report for June, due to be released on Thursday ahead of the July 4 holiday after data showed private payrolls fell for the first time in more than two years in June. The ADP report released on Wednesday pushed traders to shift expectations of when the Fed will cut interest rates. Traders are pricing in 25% chance of the Fed moving in July versus 20% a day earlier, CME FedWatch tool showed. 'The ADP print has certainly raised the stakes for nonfarm payrolls today,' said Charu Chanana, chief investment strategist at Saxo in Singapore. 'What could earlier have been interpreted as 'bad news is good news' (softer data pushing the Fed to cut) may now simply be seen as bad news, especially if recession concerns take hold.' Ahead of the July 9 tariff deadline, President Donald Trump announced Vietnam had struck a trade deal with the U.S. and could push other countries to reach similar agreements on duties. Although details were scant, Trump said Vietnamese goods would face a 20% tariff and trans-shipments from third countries through Vietnam will face a 40% levy. 'What's important to watch now is how China responds, given that the move directly targets trans-shipped goods at a higher 40% tariff rate,' said Saxo's Chanana. 'It's a clear signal that global supply chains are being reshaped, and more disruption may be ahead.' Meanwhile, Republicans in the House of Representatives struggled to pass Trump's massive tax-cut and spending bill as a handful of hardliners withheld their support over concerns about its cost. The bill is expected to add $3.3 trillion to the already swelling national debt, stoking fiscal worries. Bond investors around the world are growing increasingly nervous about government deficits from Japan to the United States. Eddy Loh, chief investment officer at Maybank Wealth Management, said the U.S. government may be 'somewhat constrained about how much fiscal support they can do to boost the economy without creating too many deficit concerns.'

PYMA rejects 'black laws' in Finance Bill
PYMA rejects 'black laws' in Finance Bill

Express Tribune

timea day ago

  • Express Tribune

PYMA rejects 'black laws' in Finance Bill

Yarn Merchants Association has pointed out that the local manufacturers are still using outdated machines, which are not energy efficient and such energy losses are built into yarn prices. photo: file Listen to article The Pakistan Yarn Merchants Association (PYMA) has categorically rejected the inclusion of Articles 37-A and 37-B in the Sales Tax Act, recently introduced under the federal government's Finance Bill. In a statement issued on Wednesday, the association made a direct appeal to Prime Minister Shehbaz Sharif, Federal Finance Minister Muhammad Aurangzeb, and Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial, calling for the immediate withdrawal of what it has described as "black laws" that have raised alarm across Pakistan's business community. PYMA Chairman Muhammad Saqib Goodluck, while voicing the concerns of yarn traders and related stakeholders, stated that these new legal provisions would open the doors to unchecked harassment and intimidation of legitimate businesses. He said that empowering FBR officials with wide-ranging discretionary powers under Articles 37-A and 37-B is unjust but sends a negative signal to entrepreneurs and industrialists already grappling with inflation, high utility costs, and uncertain policy environments. "If the government is genuinely serious about increasing tax revenues, it must create an environment that encourages businesses to grow and prosper," Saqib Goodluck asserted. "Thriving businesses contribute more to the national exchequer. But policies that stifle entrepreneurship will only shrink the tax base and hurt the economy." He further stated that these laws portray business owners as suspects instead of law-abiding citizens, warning that actions based merely on suspicion erode the principles of fairness and justice. The statement added that, calling for a change in direction, the PYMA chief urged the government to introduce policies focused on economic growth and improving the ease of doing business. "Such measures will help ensure industrial sustainability, generate employment, and ultimately strengthen the national economy," he concluded.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store