By Staff Reporter
ISLAMABAD: Finance Minister Mohammad Aurangzeb has signed off on a fixed tax scheme for retailers, with an official notification expected to be issued shortly, a government official said on Monday.
top-economy
Current account deficit shrinks 79pc to 13-year low in FY24
By Staff Reporter
ISLAMABAD: Pakistan’s current account deficit plummeted to its lowest level in 13 years, fueled by a surge in exports and remittances from overseas workers, the central bank’s data showed on Friday.
Pakistan’s IMF deal boosts funding prospects, but reforms key, Moody’s says
By Staff Reporter
ISLAMABAD: Pakistan’s new International Monetary Fund (IMF) program will boost its funding prospects, but the government’s ability to implement reforms will be crucial to securing financing over the next three years, Moody’s Ratings said on Tuesday.
Govt hikes electricity tariffs by as much as 20pc to stem financial bleeding
By Staff Reporter
ISLAMABAD: The government has raised electricity tariffs by as much as 20 percent in a bid to stem financial losses and stabilize its ailing power sector, a move that will hit consumers and businesses already reeling from soaring inflation.
Pakistan secures crucial $7 billion IMF loan
By Staff Reporter
ISLAMABAD: Pakistan and the International Monetary Fund (IMF) on Friday reached a staff-level agreement for a new $7 billion loan program, providing much-needed relief for the cash-strapped government of Prime Minister Shehbaz Sharif.
Moody’s warns Pakistan’s debt affordability remains weak despite budget efforts
By Staff Reporter
KARACHI: Pakistan’s budget for fiscal 2025 targets quicker fiscal consolidation, but the country’s debt affordability remains weak, posing high debt sustainability risks, rating agency Moody’s said on Thursday.
S&P Global sees rate cut after surprise inflation drop
By Staff Reporter
ISLAMABAD: S&P Global Market Intelligence expects the State Bank of Pakistan (SBP) to cut its policy rate by the end of June and projects a cumulative 450-basis-point reduction by the end of 2024, following a surprise drop in the monthly inflation rate.
Inflation dips to 30-month low, signals potential rate cut
By Staff Reporter
KARACHI: Inflation cooled more than expected in May, hitting a 30-month low and coming in under government forecasts, potentially giving the central bank room to ease policy in the upcoming review.
Petrol price cut by Rs15.39 per liter, diesel by Rs7.88
By Staff Reporter
ISLAMABAD: The government has cut the price of petrol by 5.3 percent to Rs273.10 per liter for the next 15 days, the second cut in a fortnight, providing some relief to consumers reeling from inflation over the past two years.
Telecom operators agree to block SIMs of tax evaders
By Staff Reporter
ISLAMABAD: Pakistan’s telecom operators have reached an agreement with the Federal Board of Revenue (FBR) to block mobile phone SIMs of individuals who haven’t filed their tax returns, ending a week-long standoff with the tax authorities.