Staff Report KARACHI: The State Bank of Pakistan (SBP) has opted to maintain its key policy rate at 11 percent, signaling a cautious monetary stance in response to escalating global oil prices, significant geopolitical tensions, and an ongoing domestic economic recovery. The decision was announced today following a meeting of …
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Aftab Maken ISLAMABAD: The federal government has once again increased the prices of petroleum products, effective for the next fifteen days. The announcement, which came late Sunday night, has pushed the cost of petrol and diesel to new highs, sparking concerns over a fresh wave of price hikes in everyday …
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Aftab Maken ISLAMABAD: The Senate Standing Committee on Finance on Sunday rejected the Federal Board of Revenue’s (FBR) proposal to impose a 10-year jail term for individuals involved in tax fraud. Members of the committee expressed serious reservations over the severity of the suggested punishment. The meeting, chaired by Senator …
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Aftab Maken ISLAMABAD: The FBR’s Anti-Benami Initiative has confiscated two valuable properties in the capital, marking the first time immovable assets have been seized under the Benami Transactions (Prohibition) Act of 2017. The plots, located in the desirable Block H of the Pakistan Employees Cooperative Housing Society (PECHS), are now …
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Aftab Maken ISLAMABAD: Finance Minister Muhammad Aurangzeb on Friday revealed that India once again attempted to block International Monetary Fund (IMF) funding for Pakistan, but this effort was unsuccessful. The disclosure was made during a meeting of the Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwalla, where the …
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Aftab Maken ISLAMABAD: Islamabad High Court (IHC) has ruled that a prominent telecom operator—Jazz Pakistan–is liable to pay approximately Rs 22 billion ($78 million) in taxes on the transfer of its tower infrastructure. The decision, handed down by a Division Bench led by Justice Babar Sattar, settles a long-standing dispute …
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Aftab Maken ISLAMABAD: Federal Finance Minister Mohammad Aurangzeb said that the government is currently providing relief by borrowing funds. He emphasized that moving forward, all decisions must be made within the government’s financial limits. “Due to the budget deficit, everything we are doing is based on loans,” he explained. Speaking …
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Aftab Maken ISLAMABAD: The federal government has proposed significant fiscal measures in the Budget 2025–26, including a reduction in withholding tax on property purchases, meaningful relief for the salaried class, the introduction of a carbon levy on petroleum products, and the imposition of General Sales Tax (GST) on solar panels …
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Aftab Maken ISLAMABAD: The federal government on Tuesday unveiled a Rs17.6 trillion balanced budget for the fiscal year 2025-26, with total projected revenues and expenditures both standing at Rs17,573 billion. According to official budget figures, the Federal Board of Revenue (FBR) is tasked with collecting Rs14,131 billion in tax revenue, …
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Aftab Maken Islamabad: A follow-up meeting of the Pakistan Crypto Council (PCC) was held on Thursday at the Finance Division to review progress on developing a regulatory framework for digital and virtual assets in the country. The session was chaired by Federal Finance Minister Senator Muhammad Aurangzeb. The meeting brought …
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