ISLAMABAD: The Federal Board of Revenue missed its monthly tax collection target by Rs143 billion in November, more than double the average shortfall seen in the first four months of the fiscal year, as sluggish economic activity and factory closures compounded the impact of higher tax rates.
Macro
Pakistan sees ‘cautious optimism on growth’ as reforms lift outlook despite sticky inflation
ISLAMABAD: Pakistan voiced cautious optimism over the economic outlook in its latest monthly update, citing strengthening industrial activity and structural reforms even as inflation remains stubborn in the 5-6% range due to pressures on food prices and agricultural production.
Pakistan weighs corporate tax cuts but FBR flags Rs1.6tr revenue risk
ISLAMABAD: Pakistan’s government is grappling with high corporate taxes that are deterring foreign investment, according to a top official, even as tax authorities insist any rate cuts must be paired with stricter compliance to avoid a massive revenue shortfall.
FM Aurangzeb signals shift toward sustainable growth to break boom-bust cycle
ISLAMABAD: The government is pivoting from short-term growth targets toward a strategy aimed at sustainable economic expansion, Finance Minister Muhammad Aurangzeb said Wednesday, signalling a departure from repeated boom-and-bust cycles that have destabilised the economy in the past.
Pakistan jobless rate climbs to 6.9 percent as 1.4mln workers join unemployment rolls
ISLAMABAD: Pakistan’s unemployed population has jumped by a staggering 31 percent over the past four years, climbing from 4.5 million in 2020-21 to 5.9 million in 2024-25, as the country grapples with deepening strains in its labour market amid economic uncertainty.
Govt scraps 0.25 percent export levy to boost competitiveness of shippers
ISLAMABAD: Prime Minister Shehbaz Sharif scrapped a 0.25% surcharge on exports in a bid to ease burdens on the country’s shippers and sharpen their edge in global markets.
Pakistan pushes GSP+ trade, maritime security, in Brussels talks with EU
ISLAMABAD: Pakistan and the European Union on Saturday underlined the importance of further deepening trade and investment ties, including through the EU’s GSP+ scheme, as a driver for sustainable growth, export diversification, job creation and mutually beneficial economic opportunity, the Pakistani Foreign Office said.
Islamabad calls first meeting of contentious NFC on Dec. 4 as pressure mounts to rewrite fiscal formula
ISLAMABAD: After months of postponements that have underscored the political and fiscal strains gripping the country, the government has called the first meeting of the 11th National Finance Commission for Dec. 4, setting the stage for what could be contentious negotiations over how to divide the nation’s tax revenues between the center and its four provinces.
Pakistan targets debut panda bond before Chinese new year , finance minister says
ISLAMABAD: Pakistan plans to issue its first Panda bond before the Chinese New Year in late January, Finance Minister Muhammad Aurangzeb said, in a clear signal that Islamabad is accelerating its push to diversify funding sources and re-enter international capital markets after years of isolation.
Pakistan’s top anti-corruption agency is a ‘political compromise,’ IMF says in damning report
ISLAMABAD: Pakistan has committed to publish asset declarations of senior public officials starting in 2026 and to introduce risk-based verification of those filings as part of concessions to the International Monetary Fund to bolster accountability amid entrenched corruption.