ISLAMABAD: The government has cut income taxes for salaried workers, lowering the rate for those earning up to Rs1.2 million annually from 5% to 1%, Finance Minister Muhammad Aurangzeb told the Senate session on Saturday.
Macro
Pakistan to lift used car import curbs under IMF bailout deal
ISLAMABAD: Pakistan will lift restrictions on commercial imports of used vehicles up to five years old starting in September, Finance Minister Muhammad Aurangzeb told a parliamentary committee on Friday.
Pakistan secures Rs1.275 trillion Islamic finance deal to tackle power sector debt
ISLAMABAD: Pakistan has clinched a Rs1.275 trillion ($4.6 billion) Islamic finance facility from 18 commercial banks to confront its power sector’s ballooning debt, a pivotal step to shore up the economy and align with its $7 billion International Monetary Fund program, Power Minister Awais Leghari said Friday.
Pakistan draws interest from five bidders for struggling PIA
ISLAMABAD: Five bidders, including prominent business groups and a military-backed firm, have emerged as contenders to buy ailing Pakistan International Airlines, the Privatization Ministry said on Thursday, signaling momentum in Pakistan’s latest push to offload the loss-making state-owned enterprises and comply with the terms of a $7 billion International Monetary Fund bailout.
Solar GST slashed to 10pc, provinces keep digital tax in budget shift
ISLAMABAD: The government has revised its budget proposals following concerns from coalition partners and stakeholders, retaining the digital sales tax under provincial jurisdiction and lowering the proposed general sales tax (GST) on solar panels from 18% to 10%.
Pakistan seals $1bn ADB-backed loan with Gulf banks in market return
By Staff Reporter
KARACHI: Pakistan on Wednesday signed a $1 billion financing deal with the Asian Development Bank (ADB), marking a pivotal step in its fiscal overhaul and heralding its return to international commercial markets after a nearly two-and-a-half-year absence.
Manufacturing growth masks broader decline in fiscal 2025
ISLAMABAD: Pakistan’s large-scale manufacturing sector grew 2.29% in April from a year earlier, but the uptick couldn’t reverse a 1.52% contraction over the first 10 months of fiscal 2025, highlighting persistent economic strain.
SECP secures first insider trading conviction against bank executive
ISLAMABAD: Pakistan’s securities regulator has secured the country’s first-ever conviction against a bank executive for insider trading, a move that could strengthen trust in its capital markets and signal tougher oversight ahead.
Pakistan plans rail upgrade to support Reko Diq mining project
ISLAMABAD: Prime Minister Shehbaz Sharif has ordered a sweeping upgrade to the country’s railway infrastructure, including an extension to the Reko Diq mining project in southwestern Balochistan, as the government moves to bolster transport capacity ahead of production at one of the world’s largest untapped copper and gold deposits.
Current account swings to deficit in May on trade gap
KARACHI: Pakistan’s current account posted a deficit of $103 million in May 2025, reversing a surplus of $47 million in the previous month, as a widening trade gap offset gains from robust remittances, the State Bank of Pakistan’s data showed on Tuesday.