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Inside Pakistan’s illicit cigarette crisis: How tax policy backfired

Pakistan’s cigarette market has become a case study in how good-faith tax policy can yield unintended/negative results. Despite repeated increases in excise duties – most dramatically in the 2022–23 financial year – the country now hosts the world’s largest illicit cigarette market. More than 40 billion cigarettes avoid domestic taxation each year, more than half of … Read more

Gold prices in Pakistan on Wednesday

[ Gold prices increased in international and local markets after a three-day pause on Wednesday. In the international bullion market, the price of gold rose by $43 per ounce to $4,191. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in the local market increased by Rs4,300 per tola to … Read more

US Senate blocks measure demanding report on rights violations in West Bank

Senate votes 47 to 51 as Democrats call for examination of human rights in West Bank, deaths of nine Americans View of the US Senate chamber on Capitol Hill in Washington, United States. PHOTO: Reuters United States Senate Republicans on Tuesday blocked a bid to require President Donald Trump’s administration to report to Congress on … Read more