KARACHI: Finance Minister Muhammad Aurangzeb on Monday defended the Federal Bureau of Revenue’s (FBR) expanded powers to combat sales tax fraud, dismissing criticism that they overreach into income tax matters.
top-economy
IMF praises Pakistan’s ‘strong’ performance under $7 billion loan program
ISLAMABAD: Pakistan’s efforts to stabilize its economy under a $7 billion International Monetary Fund loan program have won praise from the IMF’s country representative, Mahir Binici, who called the nation’s performance “strong so far,” a statement from the Islamabad-based Sustainable Development Policy Institute (SDPI) said.
Pakistan opens sugar import tender to tame local prices after export surge
KARACHI: State-run the Trading Corporation of Pakistan (TCP) has issued an international tender to purchase between 300,000 and 500,000 metric tons of white refined sugar, traders said on Friday, as the country scrambles to stabilize domestic prices following a sharp increase driven by a massive export boom and a production slump.
Pakistan seeks $1 billion valuation for New York’s Roosevelt Hotel in JV deal
KARACHI: Pakistan is targeting a valuation of at least $1 billion for the Roosevelt Hotel it owns in New York and is prepared to sell a minority stake in the prime Manhattan property as it searches for a redevelopment partner, Reuters reported, citing a senior Pakistani official.
Pakistan’s remittance inflows hit record $38.3 billion in FY25
KARACHI: Pakistan’s inflow of overseas workers’ remittances surged to a record $38.3 billion in fiscal year 2024-25, a 27% jump from the previous year, offering a lifeline to the nation’s economy as it navigates persistent challenges, data from the State Bank of Pakistan (SBP) showed on Wednesday.
Pakistan approves four bidders for stake in debt-laden PIA
ISLAMABAD: Pakistan has cleared four parties, including prominent business groups and a military-backed conglomerate, to bid for a controlling stake in Pakistan International Airlines (PIA), advancing a high-stakes privatization tied to a $7 billion International Monetary Fund bailout.
Pakistan accelerates debt retirements, cuts debt‑to‑GDP to 69 percent in FY25
KARACHI: The government has retired Rs1.5 trillion in public debt ahead of schedule in fiscal year 2025, a move that slashed the debt-to-GDP ratio to 69% from 75% in FY23 and saved Rs 830 billion in interest costs.
Pakistan, US near trade pact to shield exports from Trump tariffs
ISLAMABAD: Pakistan and the United States have concluded a critical round of trade negotiations, reaching an understanding on an agreement that could prevent the re-imposition of a 29 percent tariff on Pakistani exports, Dawn newspaper reported on Saturday.
Pakistan grapples with LNG glut as Qatar deal backfires
ISLAMABAD: Pakistan is wrestling with a costly oversupply of liquefied natural gas (LNG) from a second long-term deal with Qatar, originally intended to shore up energy security but now forcing the government to weigh revising the agreement.
Pakistan appoints financial advisers for ZTBL privatisation
ISLAMABAD: The government has tapped a consortium led by Next Capital Limited as financial advisers to oversee the sale of Zarai Taraqiati Bank Limited (ZTBL), a state-owned agricultural lender, according to an official statement.