Gold price in Pakistan today – April 15, 2025
Listen to article
Gold prices have continued their upward trajectory, with further increases being observed in both global and local markets. In the international bullion market, the price of gold per ounce increased by $6, reaching $3,224.
This rise has translated into higher local prices, with 24-carat gold per tola increasing by Rs600 to Rs339,400. Additionally, the price of 10 grams of gold rose by Rs514, bringing it to Rs290,980 in Pakistan.
Despite the rise in gold prices, silver prices remained steady, with the price of silver per tola holding at Rs3,397 and 10 grams at Rs2,912.
These increases in gold prices reflect a sustained demand for the precious metal, both in the global and local markets. As prices continue to rise, investors and consumers alike are closely monitoring the trend.
Earlier on Monday, gold prices in Pakistan fell on Monday after a three-day upward trend. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola had declined by Rs1,800, bringing it down to Rs338,800 in the local market.
This decline came after gold had reached a record high of Rs340,600 per tola on Saturday, following a single-day increase of Rs1,800.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
5 hours ago
- Business Recorder
Punjab to present ‘tax-free budget' on 16th: minister
LAHORE: The Punjab government will present its annual budget for the fiscal year 2025–26 on June 16, following a short delay from the initially announced date of June 13. Finance Minister Mujtaba Shujaur Rehman confirmed the change during the Punjab Revenue Authority performance review meeting on Wednesday. He also reiterated that the expansion of the tax net will be ensured to increase revenue in the next fiscal year. Meanwhile, according to the sources, the upcoming budget will be tax-free, and no new taxes will be introduced. Estimated at over Rs1,200 billion, the new fiscal plan is expected to feature a record-breaking development outlay emphasising health, education, infrastructure, and tourism. The new budget will include over 850 development schemes and the key projects include the expansion of Nawaz Sharif Medical City in Lahore where new hospitals will be constructed under a public-private partnership model. The government also plans to roll out extensive sanitation and clean drinking water initiatives throughout Punjab. Infrastructure development remains a central priority. Moreover, the provincial transport network will be expanded to additional cities, while road and urban infrastructure projects are planned for 66 cities across the province. These initiatives reflect the government's strategy to improve public services and promote inclusive growth without imposing new tax burdens on citizens, said sources. The sources also confirmed that proposals for new taxes, submitted by the Board of Revenue and the Punjab Revenue Authority, were rejected by Punjab Chief Minister Maryam Nawaz Sharif. The government is instead reviewing the current tax structure to identify adjustments in existing rates where necessary. The Punjab Assembly is scheduled to convene on June 16 for the formal presentation of the budget. Copyright Business Recorder, 2025
Business Recorder
5 hours ago
- Business Recorder
Maximum relief for low & middle-income earners: Aurangzeb
ISLAMABAD: Finance Minister Muhammad Aurangzeb has stated that maximum possible relief has been provided to low- and middle-income earners in the 2025-26 budget. He said the government may be forced to impose additional taxes worth Rs400–500 billion if it fails to meet revenue targets through enforcement of existing budgetary measures taken in the Budget 2025-26. In an exclusive interview on Aaj TV's Spot Light with Munizae Jahangir, Aurangzeb emphasized that the FY26 budget is focused on enforcing already announced measures rather than introducing new ones. 'It (budget FY26) is less about additional measures. It is more about the enablement around enforcement,' the finance minister said. He projected that the government plans to generate Rs389 billion in additional revenue in FY26 through improved enforcement. Budget 2025-26: Pakistan govt offers tax relief to salaried class, but representatives unhappy 'If some of those things (collection through enforcement) don't move forward then I think we all have to agree that we have to impose additional taxes of Rs400–500 billion. There is a very clear trade-off,' he said. Aurangzeb, who has repeatedly highlighted the economic burden of pensions, particularly the over Rs1 trillion paid annually from the national exchequer, revealed ongoing discussions with the Ministry of Defence to reform military pensions. 'The service structure in the military stands entirely different from the one in the civil bureaucracy. They retire in 30–35 years. So the discussion (for military pension reforms) with them is in progress in terms of how we take it forward,' he said. 'We have increased pensions across the board including civil bureaucracy. At the same time, we have initiated pension reforms, starting from the civil bureaucracy starting from July 1 last year.' The finance minister also disclosed that Prime Minister Shehbaz Sharif will soon announce additional financial resources to address Pakistan's water scarcity. This will be over and above the Rs133 billion already allocated in the FY26 budget for water availability. 'Water has been weaponized by India,' he claimed. He added that allocations made for the Diamer-Bhasha and Mohmand dams are aimed at enhancing Pakistan's water storage capacity. 'We are 15–30% short on the threshold of the required water storage capacity,' he said. 'In the next coming day, you will hear a specific announcement (on new allocation for water availability) coming directly from the Prime Minister.' Aurangzeb also responded to criticism that governments have failed to tax the agriculture sector, clarifying that provinces have already enacted legislation in this regard. 'The (agriculture tax) collection is to be started from July 1,' he said. He acknowledged that the federal government should have maintained a buffer stock of wheat for food security, but remained committed to withdrawing state intervention from the agriculture market. 'We expect revival in major crops (like cotton, wheat, maize, sugarcane, rice) and see rebound in agriculture next year,' he said, while defending the government's move to stop procuring strategic reserves and announcing support prices. 'The government has no intervention in rice and maize. It has to come out from sugar and wheat as well. We have to look forward. We have to invest in storage capacity building and electronic warehouses. The Punjab government is taking the lead. The entire value chain should be deregulated and we are on the way.' Despite a 13.5% decline in major crops, Aurangzeb said that the livestock and poultry sectors have performed well in FY25. Commenting on Pakistan's relationship with international creditors, Aurangzeb confirmed that the FY26 budget aligns with discussions held with global financial institutions, including the International Monetary Fund (IMF), under the ongoing $7 billion Extended Fund Facility. He also revealed that the government agreed with the IMF not to impose previously considered taxes on pesticide and fertilizer in FY26. Addressing concerns in the real estate and construction sectors, Aurangzeb explained recent tax changes: 'We have lowered taxes for buyers through removing FED (Federal Excise Duty), but simultaneously increased tax for sellers in the same way as capital gains tax.' He clarified that removing the 7% FED on property transactions—originally levied on food, not construction—reduces the transaction cost for buyers, while increased capital gains tax on sellers ensures no revenue loss for the government. The finance minister also hinted at further relief in electricity prices. 'The government has already reduced energy prices by Rs7 per unit and more price cuts in the energy sector are expected ahead,' he said. Copyright Business Recorder, 2025
Business Recorder
5 hours ago
- Business Recorder
Retail sector woes prompt tax on digital platforms: FBR
ISLAMABAD: Federal Board of Revenue (FBR) Chairman Rashid Mahmood Langrial Wednesday said tax has been imposed on digital platforms after serious concerns of formal retail sector paying sales tax as well as income tax on sales of goods. During post-budget press conference held on Wednesday, the FBR chairman clarified that 2.5 per cent tax would be applicable on income slab between Rs600,000 and Rs1.2 million under revised salary slabs. The tax rate of one per cent has been mentioned in the Finance Bill 2025-26. Taxing the digital frontier: Pakistan's bold move to tap e-commerce and online revenues Over Rs100 billion worth digital invoicing sales have been reported to the FBR. Sales through digital invoicing needs strong deterrence under self-assessment scheme. The integration of sales tax registered persons has been started through authorised integrators including Pakistan Revenue Automation Limited (PRAL). The FBR chairman stated that the country is moving towards digital economy. Formal retail sector is paying all kinds of taxes as compared to undocumented online companies engaged in selling of goods and paying no taxes. All Pakistan Retail Association has complaint to the FBR that the market of the documented sector has been at the verge of collapse due to informal sector. They are at a disadvantage of paying 18 per cent sales tax as compared to informal sector. The level playing field has been restored through the Finance Bill. Two percent tax of gross value of supplies would be applicable on persons supplying digitally ordered goods from within Pakistan through online market place, website and software applications. The FBR chairman stated that the board has included all taxable activities to incorporate digitally ordered taxable goods into the e-commerce sales tax framework. Presently, online marketplaces are required to withhold one percent sales tax on local supplies made by non-active taxpayer vendors. However, this does not fully capture the growing e-commerce sector, especially businesses using websites, apps, etc, for online sales to consumers. To address this, the withholding tax scope has been expanded to cover transactions settled via online payment or CoD. Under the proposed regime, payment intermediaries (banks, financial institutions, exchange companies, and payment gateways) will collect sales tax on digital payments, while couriers will handle tax collection for CoD transactions. Additionally, the withholding tax rate is set to increase from one per cent to two per cent. Under the Finance Bill 2025, in the case of supply of digitally ordered goods by online market place, website and software application from within Pakistan during the course of e-commerce, the liability tocollect and pay tax shall be of payment intermediary including a banking company, a financial institution, licensed exchange company or payment gateway in case the payment is made digitally and of the courier delivering the goods where those are supplied on Cash on Delivery (CoD) basis at the rates provided in the Eleventh Schedule. The FBR chairman also stated that sales tax has been imposed on the import of solar panels to create an enabling environment for domestic manufacturing industry. The FBR Member Inland Revenue (Policy) stated that domestic e-commerce covers a number of e-stores operating outside the formal banking system. They sell goods through Bykea and websites. The FBR has chalked out a domestic e-commerce framework for small and medium businesses selling goods through websites or online. A simple regime has been introduced for payment of tax through couriers and banks with final discharge of tax liability. The FBR Member said that four items have been included in the Third Schedule of the Sales Tax Act to check under-invoicing on the import of chocolates, pet food and imported cereal bars in retail packing. The FBR chairman stated that the non-profit organisations would go through strict scrutiny under the Finance Bill 2025-26. The FBR has laid down very strict conditions for the NPOs for availing exemption. Now the NPOs have to prove that they are not engaged in commercial activities. In future, we would review performance and scrutinise NPOs. Pointing out that globally non-profit organisations were not subjected to tax measures, Langrial said, 'No organisation will be exempt from scrutiny in the future.' Under the Finance Bill 2025-26, the FBR has listed entities granted complete exemption on any income and exemption subject to Section 100C provision respectively have been merged. Now all entities require approval under Section 100C to be declared as non-profit organisation and availing exemption against income. Copyright Business Recorder, 2025
