Pakistan hopes to secure a new IMF loan program in July as the budget 2024-25 prepared under IMF conditions has also been approved, fulfilling one of the major requirements set by the international lender. Sources indicate that the government is continuing to meet other conditions set by the IMF. Work is underway to increase the […]
The National Assembly (NA) yesterday approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion. According to sources, the IMF wants Pakistan to hike the electricity and gas rates from July 1 and immediately implement the NEPRA decision regarding the increase in gas and power tariffs. IMF also demanded […]
Minister for Finance and Revenue Muhammad Aurangzeb moved the motion for consideration of the Finance Bill, 2024 to give effect to the financial proposals of the federal government for the year, commencing on July 1, 2024. The motion was passed with a majority vote which led to the passage of Finance Bill-2024 after clause-by-clause reading […]
The Official Creditor Committee (OCC), led by Japan, France, and India, has requested details of Colombo’s other debt deals, a statement seen by AFP on Thursday read. The grouping agreed in Paris on Wednesday to restructure $5.8 billion in loans. But on the same day, Colombo struck another deal with the Exim Bank of China […]
According to sources, Pakistan and the International Monetary Fund (IMF) have made significant progress in virtual negotiations. Sources revealed that the IMF expressed satisfaction over the tough economic decisions taken in the budget, acknowledging the positive role of political parties in the budget. Sources further added that the monetary fund also appreciated the limitation of […]
The Ministry of Industries and Production has sought a reversal of a proposed hike in sales tax on electric and hybrid vehicles in the new budget, saying that the tax increase is a violation of the government’s policies aimed at promoting new technologies. In a letter written to the Finance Division and the Federal Board […]
The benchmark KSE-100 reached an all-time high of 78,115 from the previous close of 77,213. The KSE-100 index gained 1409 points around 10.55 am. Analysts attributed the upward trajectory to the government’s willingness to unlock a deal with the International Monetary Fund (IMF) after the budget. Analysts expect the budget for the fiscal year to […]
Lasbela Chamber of Commerce and Industry President Ismail Suttar dubbed the document as a confused budget, claiming that the masters did not want economic stability in the country. Imagine a country that fails to support its exporters, what else can we expect from a budget that converts the 1% presumptive tax regime into normal taxation, […]
Talking in the budget transmission of the ARY News Nafisa Shah expressed reservations over the budget adding that these reservations will be presented to the government. “We will settle the issues with dialogue,” Shah said. “There is no option before us of not extending support to the government over budget,” the PPP leader said. “What […]
the International Monetary Fund (IMF) has conditioned the reduction of income tax slabs. The proposal includes an increase of 10 percent in tax on the monthly income of salaried class between Rs 3-5 lakh, enhancing the maximum tax limit from 35% to 45% and applying the maximum tax limit to annual income exceeding Rs 60 […]
