By Staff Reporter
ISLAMABAD: Pakistan cut fuel prices by 0.8-2.2 percent on Monday, the fourth consecutive cut since July 30, as global petroleum prices continue to fluctuate.
Economy
Pakistan revises up FY2023-24 GDP growth to 2.52 percent
By Staff Reporter
ISLAMABAD: Pakistan’s GDP growth surged to 3.07 percent year-on-year in Q4 FY2023-24, exceeding forecasts, with the National Accounts Committee (NAC) revising its full-year estimate to 2.52 percent from 2.38 percent on stronger agricultural and services growth.
FBR extends tax return deadline to Oct 14
By Staff Reporter
ISLAMABAD: The Federal Board of Revenue (FBR) has pushed back the deadline for filing income tax returns by two weeks to Oct. 14, as it struggles to meet its tax collection targets, already facing a shortfall of Rs87 billion in the first quarter.
Tax return filers surge 100pc to 3.2 million – FM Aurangzeb
By Staff Reporter
ISLAMABAD: Pakistan’s tax return filers have surged by over 100 percent to 3.2 million, Finance Minister Muhammad Aurangzeb said Sunday, as the government steps up efforts to widen the country’s narrow tax base and shore up its fragile economy.
IMF cautions on Pakistan’s structural challenges
By Staff Reporter
ISLAMABAD: Pakistan’s economic recovery remains fragile, with the International Monetary Fund warning of persistent vulnerabilities and structural challenges that require sustained reform efforts.
PIA sale delayed for third time, no new date set
By Staff Reporter
ISLAMABAD: The government plans to privatize the loss-making Pakistan International Airlines (PIA) have hit another snag, with the government delaying the sale for a third time, as it struggles to address concerns of potential bidders and meet IMF loan conditions.
Pakistan’s inflation to hold steady at 8-9pc through October
By Staff Reporter
ISLAMABAD: Pakistan’s inflation rate is poised to remain within a range of 8 percent to 9 percent in September and October, building on a recovery that’s gaining traction, the finance ministry said on Friday.
Pakistan gets $1.03 bln first tranche of IMF’s $7 bln bailout package
By Staff Reporter
KARACHI: Pakistan received $1.0269 billion on Friday, the first tranche of a $7 billion International Monetary Fund (IMF) bailout, after the lender’s Executive Board approved a 37-month Extended Fund Facility (EFF) to bolster the country’s fragile economy.
IMF sees ‘formidable’ ricks to Pakistan’s growth prospects
By Staff Reporter
KARACHI: Pakistan’s economy faces significant risks, with “formidable” vulnerabilities and structural challenges threatening growth, the International Monetary Fund (IMF) warned.
External financing plummets 78 percent in July-August amid economic crunch
By Staff Reporter
ISLAMABAD: Pakistan’s external financing dropped 78 percent to $714.74 million in the first two months of the fiscal year, down from $3.206 billion a year earlier, as the nation struggles to stabilize its economy.