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Inflation Rate

Pakistan’s inflation rate jumps to 3.42 per cent

ISLAMABAD: Pakistan’s annual inflation rate increased to 3.42 percent in August from 2.91 percent a month earlier, the state Bureau of Statistics said on Tuesday. On a month-on-month basis, the inflation rate was 0.19 percent in August, the bureau said. Food items such as onions, tomatoes and mango were the main reason behind rate increase in the month-on-month prices. The authority last month said that consumer prices rose 2.91% in July compared to the same month a year earlier (2015). It was 0.34% higher…

Small traders to face tax hike on power bills

KARACHI: Government will increase taxes by five to seven percent on power bills on nearly a million small traders, ARY News reports. The taxes have been imposed with enforcement of the new Finance Act. An additional tax of five percent, apart from the 17 percent sales tax, will be taken on small traders that pay upto Rs. 20,000 per month whereas the businessmen whose power bills exceed Rs. 20,000 will have to pay an additional tax of 7.5 per cent. The recovery of the tax will begin with the bills of the upcoming month.…