Caretaker Finance Minister
KARACHI, Jan 27: Caretaker Finance Minister Dr. Shamshad Akhtar underscored the imperative of doubling the tax-to-GDP ratio to achieve development goals during a ceremony marking World Customs Day at Customs House Karachi. Addressing the gathering, the Finance Minister outlined the challenges in customs reforms, emphasizing the need for a simplified
fiscal year
Islamabad, Jan 16: Pakistan has witnessed a remarkable surge of 103% in tractor sales on an annual basis during the initial six months of the current financial year. According to data from the All Pakistan Auto Manufacturers Association, the country recorded the sale of 23,411 tractor units from July
Overseas Pakistanis
Karachi, Jan 10: Overseas Pakistanis have marked a notable uptick in remittances, recording a 5.4% increase in December 2023 compared to the previous month. The latest data released by the State Bank of Pakistan reveals that remittances from overseas Pakistanis totaled $2.4 billion in December 2023, reflecting a
UAE
Islamabad, Pakistan has officially requested the United Arab Emirates (UAE) to extend the deadline for a $2 billion loan, according to sources within the Ministry of Finance. The caretaker government has reached out to the President of the UAE, seeking approval for the roll-over of the $2 billion debt. Sources
Tax
ISLAMABAD. Jan 07 : The salaried class has outpaced wealthy exporters in tax payments during the first half of the current fiscal year. Reports indicate that the salaried class has contributed a staggering 158 billion rupees in taxes, marking a substantial 38 percent increase compared to the same period in the
Interest Rates Cripple
In a fervent appeal, Karim Aziz Malik, the Chairman of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has sounded the alarm on the crippling impact of soaring interest rates on Pakistan's economy. Malik urged the government to promptly address the issue by significantly reducing interest