By Staff Reporter
ISLAMABAD: The federal cabinet on Wednesday mandated a thorough review of controversial changes to the country’s solar net metering policy, responding to widespread criticism from consumers, traders, and even senior government figures.
By Staff Reporter
ISLAMABAD: Pakistan’s economy expanded 1.73 percent in the second quarter of the fiscal year 2024-25, driven by solid growth in agriculture and services, despite a slight contraction in the industrial sector, the National Accounts Committee (NAC) said on Wednesday.
The headline inflation is expected to remain steady within a 1-1.5 percent range in March, according to the Finance Division’s Monthly Economic Update and Outlook. However, the ministry warned that inflation could edge up to 2-3 percent in April due to potential volatility in food and energy prices. The country’s inflation has been on a declining trend since peaking at 38 percent in May 2023, and the government’s efforts to tighten spending and boost revenue have led to a primary surplus and a narrowed fiscal deficit.
By Staff Reporter
ISLAMABAD: The International Monetary Fund (IMF) has refused to entertain the Federal Board of Revenue’s (FBR) request to reduce transaction taxes for the property sector, dashing earlier claims of an agreement in principle, local media reported.
By Staff Reporter
KARACHI: Pakistan’s central bank awarded the nation’s first digital retail bank license to Easypaisa Bank Ltd., paving the way for the lender to offer commercial digital banking services.
By Staff Reporter
KARACHI: Pakistan’s central bank lowered its benchmark interest rate by 100 basis points to 12 percent on Monday, cutting borrowing costs for the sixth time since June 2024 as inflation slows.
By Staff Reporter
KARACHI: Pakistan inaugurated its new Gwadar International Airport, a $246 million Chinese-backed project that aims to become a key hub for trade and tourism in the region, as the country deepens its economic ties with China.
By Staff Reporter
ISLAMABAD: Pakistan’s economic growth is expected to be 3 percent in 2025, the International Monetary Fund (IMF) said, trimming its earlier forecast to match the central bank’s estimate of 2.5 percent to 3.5 percent.
By Staff Reporter
ISLAMABAD: The government has increased diesel prices by 2 percent or 5 rupees per litre to Rs251.29, while keeping petrol prices steady at Rs247.03 rupees for the next fortnight, the Ministry of Finance said late on Tuesday.
By Staff Reporter
ISLAMABAD: The government delayed the income tax return filing deadline to Oct. 31, giving taxpayers extra time to comply after bank closures tied to the Shanghai Cooperation Organisation (SCO) summit hindered submissions.
