Finance Ministry
Islamabad, Aug 03: The Ministry of Finance and Ministry of Energy have presented various suggestions to offer significant relief in electricity bills, sources report. Key proposals include a massive lump sum payment of up to 4 trillion rupees to cover capacity payment obligations. This move aims to consolidate payments to
Finance Minister
ISLAMABAD, June 30: Finance Minister Muhammad Aurangzeb, addressing the media in Islamabad, underscored the government's commitment to tackling tax evasion among non-filers through decisive actions. He highlighted significant economic improvements attributed to government initiatives and expressed determination to clear fiscal backlogs as the new financial year approaches. Aurangzeb
budget
LAHORE: The Counter Terrorism Department (CTD) of Punjab has requested 1.42 billion rupees from the provincial government for operational upgrades, aimed at enhancing anti-terrorism efforts and maintaining law and order. The funds are intended to equip CTD with modern technology and resources for effective counterterrorism operations. Specifically, 354.5
foreign aid
ISLAMABAD: Pakistan has received a total of $7.142 billion in foreign aid grants and loans during the first ten months of the current fiscal year, according to the latest report from the Ministry of Economic Affairs. The report indicates that from July through the end of April, Pakistan secured
finance
Pakistan's Finance Minister, Muhammad Aurangzeb, painted a picture of a stabilizing economy during his visit to Washington. He addressed the Atlantic Council, highlighting positive trends in GDP growth, particularly within the agriculture sector (5%) and the services sector. Aurangzeb claimed significant progress has been made this year. Pakistan
increase in remittances
ISLAMABAD, March 26: Pakistani expatriates working in Spain have contributed significantly to the country's economy, with a 21% increase in remittances during the first 8 months of the fiscal year. According to data released by the State Bank, Pakistani expatriates working in Spain sent a total of $384.
Muhammad Aurangzeb
ISLAMABAD, Mar 13: Federal Finance Minister, Muhammad Aurangzeb, reiterated the government's commitment to enhancing transparency within the tax system, aiming to increase the tax revenue's share in the national income to 10%. Addressing the media in Islamabad on Wednesday, Minister Aurangzeb emphasized the priority placed on
increase in remittances
KARACHI, Deb 13: Pakistan has witnessed a notable surge in remittance inflows, with a year-on-year increase of 26%, amounting to $2.39 billion in January, as reported by the State Bank. Comparing figures from the same period last year, remittances in January surged from $1.90 billion to $2.39
Inflation
Islamabad, Jan 28: The overall inflation rate in the country has witnessed a decline, settling at 43.79%, with prices of 15 items increasing and 13 items decreasing within a week, according to data released by the Federal Bureau of Statistics. The weekly inflation report indicates a 0.14% decrease
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
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