By Staff Reporter
ISLAMABAD: In a last-ditch bid to iron out differences over budgetary numbers, Pakistan and IMF officials butted heads through Friday evening to reach a middle-ground amid expectations of a “breakthrough” within next 72 hours.
Top Stories
Pakistan ‘one step away’ from exiting FATF grey list
By our correspondent
ISLAMABAD: Pakistan is just ‘one step away’ from being removed from the grey list of the FATF — the international watchdog monitoring money laundering, terror financing, and other threats to global financial networks, after the had substantially completed its two action plans, covering 34 items, as part of a bid to get off the list on which it has been since 2018.
Puny provincial surplus dashes budget deficit dreams
By Staff Reporter
ISLAMABAD: The government’s hopes of slashing the budget deficit by half bombed as provinces posted a meagure surplus of Rs91 billion instead of Rs800 billion for the next fiscal.
Filers Facilitation: Senate body rejects increase in advanced tax on property deals
By Staff Reporter
ISLAMABAD: The Senate Standing Committee on Finance and Revenues on Wednesday rejected the FBR’s proposal to increase advance tax on the sale and purchase of property from 1 to 2 percent for filers in the Budget 2022-23.
Book Published: Planning ministry still trying to add new projects to PSDP list
By Staff Reporter
ISLAMABAD: Despite the official book having been already published, the Ministry of Planning is still making last-ditch efforts to include around 60 development projects in the Public Sector Development Program (PSDP) for the next budget 2022-23, the IP learned on Wednesday.
Petrol hits Rs233.89/litre as Pakistan reverses fuel subsidies completely
By Staff Reporter
ISLAMABAD: Taking another ‘tough’ step closer to the elusive half of the IMF loan, the government late on Wednesday raised the petroleum products rates to the highest the country has ever seen, reversing the fuel subsidies completely.
In June? Pakistan inches nearer IMF deal
By Staff Reporter
ISLAMABAD: Pakistan’s talks with the International Monetary Fund (IMF) on $6 billion bailout deal is trudging closer to the finish line, and the south Asian country could receive the stuck-up disbursement within the current month, sources said on Wednesday.
Ambassador Khan visits White House to ‘meet, greet’ President Biden
By Staff Reporter
ISLAMABAD: Pakistan’s ambassador to the US, Masood Khan, met President Joe Biden in the White House and the two discussed to reset bilateral ties, which had deteriorated in the past few years under former prime minister Imran Khan.
Up 11.2pc YoY: Military cites inflation in ‘defence’ of budget raise
By Staff Reporter
RAWALPINDI: Denying a raise in the next fiscal’s defence budget, the military on Tuesday asserted, in view of the runaway inflation, their allocation shrank by Rs100 billion, a claim that on the face of it does not add up.
Bilawal taps Iran for additional power import
By Staff Reporter
TEHRAN: Islamabad has tapped Tehran for import of additional electricity from Iran for Makran Division in Balochistan and broadening of bilateral economic relations, an official statement said on Tuesday.