Dissanayake, whose leftist coalition won 159 seats in the 225-member parliament in the general election, also reappointed veteran legislator Vijitha Herath to helm the foreign affairs ministry. Dissanayake did not name a new finance minister during Monday’s swearing-in, signaling that he will keep the key finance portfolio himself as he had done in September after […]
During his visit, he will meet the top officials of the IMF and World Bank and the senior officials of the US State and Treasury Departments. The finance minister is leading a delegation comprising the finance secretary, the economic affairs secretary, the governor of the State Bank of Pakistan(SBP), and other senior officials. Aurangzeb will […]
The IMF package is not just for the federal government but for the entire country, said Aurangzeb, in a press conference held in Islamabad. He stressed the importance of implementing tough decisions to ensure economic stability. Pakistan has availed 25 IMF programmes since becoming a member of the International Monetary Fund (IMF) in 1950. The […]
As per details, there is a possibility that the government may phase out lump sum hikes in pensions for retired public employees. The Finance Ministry has indicated that pensions could see an 80% increase to the inflation data of the last 2 years. The Pakistani government announced a 15% increase in pensions during the current […]
Petroleum prices likely to decrease by up to Rs11 per litre from the next fortnight The petrol price may drop by Rs5.50 per litre, while high-speed diesel (HSD) could see a reduction of up to Rs11 per litre. Kerosene is expected to become cheaper by Rs5.84 per litre, and light diesel oil may decrease by […]
“These two steps would stimulate the industry with positive vibes,” he said. He was talking to the minister during his visit to the regional office of the Federation of Pakistan Chambers and Commerce and Industry (FPCCI). Saquib Fayyaz Magoon, Acting President of FPCCI, Dr Gohar Ejaz, former Caretaker Federal Minister for Commerce, Industries, Investment & […]
According to a State Bank report, the federal government’s debt stood at Rs 67,816 billion by May 2024, with an increase of Rs 3,011 billion from March to May 2024. In contrast, the caretaker government’s debt had increased by Rs 1,416 billion during its last three months in office. The federal government’s debt surged between […]
According to sources, Pakistan and the International Monetary Fund held virtual talks on the efforts made in the budget to meet the conditions. The IMF was briefed on Pakistan’s measures to increase gas prices and other economic decisions in the budget, sources added. Sources indicated that negotiations for a new loan program are underway, and […]
According to the Statutory Regulatory Order (SRO), the regulatory duty has been increased on various items ranging from 5% to 55% under Finance Bill 2024, including Milk and cream (25%), Yogurt, butter, and nuts (20%), Natural honey (30%), Dates, figs, pineapples, and oranges (25%), Cherries (35%), Apples and lemons (45%), Corn (30%), Perfume and makeup […]
This change marks a shift from a fixed tax rate to a value-based tax system, as outlined in the Finance Bill 2024-25. IMF says budget 2024 approval ‘not enough’ and demands Pakistan to ‘Do more’ Under the new tax regime introduced in budget 2024-25, the tax on vehicles is no longer a fixed amount but […]
