The move has been taken after an unprecedented Rs3.4 trillion profit by the State Bank of Pakistan (SBP) due to a record-high 22pc interest rate, which has now dropped to 16%. According to a notification issued by the Debt Management Office (DMO) of the Ministry of Finance, Pakistan, the scope of the Government Securities Buyback […]
During a meeting with IMF Managing Director Kristalina Georgieva, Prime Minister Shehbaz Sharif discussed the need for urgent action to control climate change in Pakistan. The loan will support Pakistan’s Climate Resilience and Sustainability Facility, which aims to promote economic stability and sustainable development in the country. The Prime Minister also expressed appreciation for the […]
KCCI President Iftikhar Ahmed Shaikh in his statement said the FBR’s portal for submitting online tax returns is not ‘working’ and the traders are finding it difficult to submit their returns as the deadline is also nearing. Shaikh urged the (FBR) to extend the deadline for filing income tax returns for a month as the […]
“We have undertaken major reforms by adopting a tourist-friendly visa regime under which tourists from 126 countries can obtain fast-track visas without fee. I am confident that this decision will play a key role in promoting the sector and opening new avenues for socioeconomic development in Pakistan,” the prime minister said in a message on […]
According to details, the new hybrid buses will be deployed on various routes in Lahore to support metropolitan tourism. The initiative includes plans to expand the service, with one bus each being added to Bahawalpur and Rawalpindi. Additionally, double-decker bus services will be launched in Multan and Faisalabad to further promote tourism. In Lahore, three […]
According to an official statement of the IMF, the fund noted that Pakistan’s economic growth rate has reached 2.4. However, the country still faces major challenges, including a difficult business environment, weak governance, and a limited tax base. According to the statement, Pakistan has implemented continuous policies under the Stand-By Arrangement over the past year, […]
Speaking to newsmen after the IMF Executive Board meeting, Kristalina Georgieva congratulated the government and people of Pakistan She also praised the country’s economic situation, citing significant reforms and improved growth. The IMF Managing Director said that Pakistan has made reforms and the country’s economy has improved. She said that Pakistan presented its reform program […]
The cutlery exports from the country were recorded at US $10.308 million during July-August (2024-25) against the exports of US $9.485 million during July-August (2023-24), according to the Pakistan Bureau of Statistics (PBS). Meanwhile, year-on-year basis, the exports of cutlery witnessed an increase of 18.43 percent during August 2024 as compared to the same month […]
The overall exports to the US were recorded at US $949.855 million during July-August (2024-25) against exports of US $934.666 billion during July-August (2023-24), SBP data revealed. On a year-to-year basis, the exports to the US decreased to $473.838 million in August 2024 against the export of $494.774 million in August 2023. Meanwhile, on a […]
According to details, the crackdown will target individuals conducting business under benami (undisclosed ownership) or fake names. According to FBR officials, third-party data collection methods will be employed to gather information on unregistered businesses. Current FBR records reveal that only 300,000 manufacturers are registered for sales tax in Pakistan. After October 1, FBR plans to […]
