According to sources, the international money lender has urged the federal government to cease funding matters devolved to provinces under the 18th Constitutional Amendment. Sources revealed that the IMF’s directive has compelled the federal government to remove 168 provincial projects from the upcoming federal budget. Sources further said that these 168 provincial projects, currently part […]
During his meeting with IMF Managing Director (MD) Ms. Kristalina Georgieva in Washington D.C. he thanked the IMF team for reaching a Staff-Level Agreement on the First Review under the Extended Fund Facility (EFF) and a new arrangement under the Resilience and Sustainability Facility (RSF). In his meeting with President of the World Bank Group […]
These meetings will commence on Monday and continue till 26th April. During the visit, the finance minister will hold meetings with senior officials of World Bank, International Monetary Fund, global credit rating agencies and commercial and investment banks. He will hold meetings with his counterparts from China, the United Kingdom, Saudi Arabia, and Türkiye. Meetings […]
The Ministry of Tourism reported that 3,284 licenses were granted in 2024, a 168% increase from the 1,221 licenses granted in 2023, representing a significant rise in the number of licensed tour guides in Saudi Arabia. With 986 tour guide licenses, Makkah was the most licensed city, followed by Madinah (477), Riyadh (665), and Makkah […]
The prime minister, in a statement, said that the waiver of Abiana (water charges) and fixed taxes for wheat farmers in Punjab was a relief for the farmers. Besides, he said that the initiative to provide farmers with free wheat storage facilities for four months would help protect the commodity from seasonal impacts and farmers […]
According to data, the Pakistan government managed to spend only Rs399 bln out of the allocated Rs1,100 billion budget during (July to March 2024-25). According to the data, federal ministries utilised Rs293 billion, while state-owned corporations spent Rs105 billion during the same period. The National Highway Authority (NHA) emerged as one of the top spenders, […]
According to sources, virtual discussions are held between Pakistan and the International Monetary Fund (IMF) as preparations for the budget are underway. The FBR’s target will be determined based on the estimated GDP size for the next fiscal year. For the current fiscal year, a tax-to-GDP ratio of 10.6% is expected to be achieved, with […]
Chairman of the Association of Builders and Developers of Pakistan (ABAD), Hasan Bakshi, expressed gratitude to the government for removing the FED, calling it a positive step for the country’s construction industry. He urged further relief, calling for reductions in taxes under Sections 236C and 236K of the Income Tax Ordinance, 2001, and proposed easing […]
He emphasized that strengthening the agricultural backbone of the country would help ensure food security, boost exports, and improve livelihoods for millions of farmers. Speaking at a ceremony held here in connection with the PM’s initiative for capacity building of 1000 agriculture graduates in China, the prime minister highlighted the urgent need to revive and […]
As per details, as preparations for the upcoming federal budget are underway, high-level discussions are taking place to explore avenues of tax relief, particularly for the salaried class and real estate sector. Insiders reveal that one of the key proposals under consideration is the elimination of the 3% Federal Excise Duty (FED) on property sales. […]
