Foreign states should not be allowed to own more than a 5pc stake in a newspaper even if acting as indirect or passive investors, a Tory peer has said.
The International Monetary Fund (IMF) resident representative in Pakistan on Friday denied media reports that the lending body is planning to ask Pakistan to increase taxes on salaries and business income, and increase the maximum threshold for petroleum levy. Media reports had been circulating stating that the IMF asked Pakistan to cut the number of tax slabs for the salaried and business class from the existing seven to four, increasing tax incidence on the middle and upper-middle income group. There have also been reports of an increase in the maximum petroleum development levy.