the IMF’s mission has reached Islamabad to assist the finance ministry in finalizing the FY2024-25 budget. The team will stay in Pakistan for more than 10 days, while other members of the IMF mission are likely to reach Pakistan on the night of May 16, the sources said. The mission will hold talks with Islamabad […]
According to sources, the government is considering taxation on the real estate sector to increase revenue, as well as taking action against benami transactions in the real estate sector. Additionally, the government will also take action against those traders who do not use the “Tajir dost app”, sources added. The budget is also expected to […]
The SBP, in a statement issued here on Thursday, informed that foreign reserves held by the central bank increased by $ 25 million to $ 8,006 million during the week under review. Meanwhile, net foreign reserves held by commercial banks were recorded $5,310 million, it added. Total liquid foreign reserves held by the country, in […]
When it comes to efforts to stabilize its economy, we support those efforts, including reaching an agreement with the IMF,” said the department’s spokesperson, Matthew Miller. “Our support for Pakistan’s economic success is unwavering and we will continue to engage with them through technical engagements as well as through our trade and investment ties, all […]
Addressing a news conference Financial Counsellor and Director of the Monetary and Capital Markets Department Tobias Adrian said in Pakistan’s case, monetary policy has been tightening over the past two or three years to control inflation, and inflation is projected to come down, but more work needs to be done. He said that Pakistan is […]
In its latest World Economic Outlook (WEO) report released on Tuesday, the Washington-based global lender also projected a reduction in inflation and unemployment in the country. The IMF forecast the consumer price index (CPI) at 24.8pc and 12.7pc for the current and next fiscal year, respectively. The unemployment rate may drop to 7.5 in the […]
According to a statement issued by the central bank, the total liquid foreign reserves of Pakistan reached $13.441 billion in the week ended on April 5, 2024. The foreign exchange reserves held by the central bank decreased by 0.1 million to $ 8.040 million during the week under review. Meanwhile, net foreign reserves held by […]
The FBR will kick-start registration in Tajir Dost Scheme in four cities Karachi, Lahore, Peshawar Islamabad, and Rawalpindi in the first phase and the tax collection will be made effective from July 1. The notification regarding the mandatory registration of retailers has been issued. Under the scheme, the traders who pay their tax before 15 […]
The premier has established a committee to investigate the reasons behind the track and trace system’s failure, despite awarding an estimated Rs25 billion contract to a consortium consisting of M/s AJCL, MITAS, and Authentix, which largely remained non-functional. The decision marks the seriousness of the government in ending tax evasion, which is going on in […]
As per details, the Monetary Fund has asked Pakistan to end sales tax relaxation on all items including petrol. The newly elected government of Pakistan should also implement a sales tax on petroleum products along with a Rs 60 levy to increase the tax income. Earlier, the International Monetary Fund (IMF) recommended the government of […]
