By Staff Reporter
ISLAMABAD Pakistan’s economy is on track to grow faster than previously forecasted by the International Monetary Fund, despite facing macroeconomic and security challenges.
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Tax wealth from land and property, World Bank tells Pakistan
By Staff Reporter
ISLAMABAD: Pakistan should increase taxation of high-income earners, especially those who derive income from agriculture and property, and withdraw regressive tax exemptions, the World Bank said.
Inflation surges to four-month high after fuel price hike
By Staff Reporter
ISLAMABAD: Inflation in September rose for the first time in four months after the government raised fuel prices to meet International Monetary Fund’s (IMF) conditions for an ongoing $3 billion bailout program.
No rate hike as SBP sees inflation peaking in September
By Staff Reporter
KARACHI: The State Bank of Pakistan kept its benchmark interest rate unchanged at 22 percent on Thursday, defying market expectations of a hike to curb inflation and support the rupee, which has plunged to record lows in recent months.
Pakistan sets up sovereign wealth fund to boost economy, save for future
By Staff Reporter
ISLAMABAD: Pakistan’s Senate passed a bill on Wednesday to establish a state-owned sovereign wealth fund that aims to stabilize the country’s economy through diversification and to generate wealth for future generations.
SBP holds rate at 22 percent, sees inflation easing
By Staff Reporter
KARACHI: Pakistan’s central bank kept its policy rate unchanged at 22 percent on Monday, saying it expected inflation to ease in the coming months after securing a $3 billion bailout from the International Monetary Fund (IMF).
Pakistan welcomes Chinese vice premier for CPEC anniversary
By Staff Reporter
ISLAMABAD: China’s vice premier, He Lifeng, will arrive in Pakistan on Sunday for a three-day visit to mark the 10th anniversary of a major economic and strategic partnership between the two countries, the Pakistani foreign office said on Saturday.
No default risk in 2019, says PTI’s Umar
By Staff Reporter
ISLAMABAD: Former finance minister Asad Umar on Friday rejected claims by an ex-tax chief that the previous government of Imran Khan was on the verge of defaulting on its debt in 2019.
FBR hikes tax rates on cars, property, and online shopping
By Staff Reporter
ISLAMABAD: Pakistan’s Federal Board of Revenue (FBR) has notified amendments in the Income Tax Law to increase the tax collection from vehicle registration, property transfer, and online payments to non-residents.
Ecnec approves eight development projects worth Rs10.6 trillion
By Staff Reporter
ISLAMABAD: Pakistan’s top economic body approved eight development projects worth around Rs10.6 trillion on Thursday, including a nuclear power plant, a storage dam, and a canal system.