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Islamabad High Court Halts Government's Plan to Block SIMs of Non-Filers
On Tuesday, the Islamabad High Court (IHC) intervened, halting the government's plan to deactivate SIM cards belonging to individuals who haven't filed taxes. Chief Justice Aamer Farooq issued a stay order until May 27, responding to a petition filed by a mobile phone company challenging the government's decision. This development follows recent discussions between the Federal Board of Revenue (FBR) and telecom operators, where an agreement was reached to deactivate SIMs of non-filers as part of efforts to combat tax evasion and bolster revenue amid economic challenges. The FBR stated that while the process of manually blocking SIMs has begun in small batches, telecom operators are still working on automating the process. The first batch of 5,000 non-filers has been identified, with more to follow on a daily basis.
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The Pakistan Stock Exchange (PSX) 100-Index concluded Friday with a bearish trend, experiencing a loss of 124.26 points, indicating a negative change of 0.19%. The index closed at 64,514.90 points compared to the previous trading day's closing at 64,639.16 points. Throughou...
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The Saudi stock market is poised to achieve its highest annual closing level in 18 years, with the Tadawul All Share Index (TASI) rising by approximately 13.5% since the beginning of 2023 until the year's end. The market successfully reversed last year's losses of 7.1%, aiming...
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