The Cabinet Committee on State-Owned Enterprises (CCoSOEs) on Tuesday convened under the leadership of Senator Muhammad Aurangzeb, the Federal Minister for Finance and Revenue, at the Finance Division. Among the attendees were Federal Minister for Housing and Works Riaz Hussain Pirzada, the Attorney General of Pakistan, the Executive Director of …
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The government has increased petrol and diesel prices for the second time in a row. Petrol has been made costlier by Rs. 3.47 per liter, and high-speed diesel (HSD) by Rs. 2.63 per liter, effective from midnight. After the increase, the price of petrol has been set at Rs. 256.13 …
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Pakistan’s overseas workers’ remittances surpassed the country’s export earnings in the first half of fiscal year 2024-25, despite the Prime Minister’s emphasis on boosting exports. Official data reveals that remittances totaled $17.645 billion in this period, compared to $16.561 billion in exports, creating a $1.084 billion gap. In December 2024 …
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The local banks in Pakistan have reportedly been involved in a tax evasion scam by manipulating the Advance-to-Deposit Ratio (ADR). At present, a banking company’s income, profits, and gains are taxed at the standard rate of 39%. Additionally, banking companies are subject to a Super Tax at progressive rates ranging …
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The federal government has appointed Rashed Langrial of the Pakistan Administrative Service (PAS) as the Chairman of the Federal Board of Revenue (FBR). Sources revealed that the federal government has completed preparations for the new Chairman of FBR’s appointment, and approval for the appointment has been sought from the federal …
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The federal government has prepared a plan to roll over a $9 billion loan from China and Saudi Arabia for the current fiscal year. Pakistan has over $20.8 billion in payments due, while it has assurances of $10.7 billion in project financing. The briefing mentioned that the government is in …
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The federal government has issued a three-year economic plan and set economic targets under the Medium-Term Budget Strategy Paper. According to the Ministry of Finance, the aim is to increase the economic growth rate to 5.5% by the fiscal year 2027, while bringing the average inflation down to 7% over …
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