ISLAMABAD: The Federal Board of Revenue (FBR) fell short of its fiscal year 2024-25 tax target, collecting Rs11.735 trillion against an original goal of Rs12.97 trillion, according to provisional figures.
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Govt axes provincial electricity duty to cut bills, ease consumer burden
ISLAMABAD: Pakistan will eliminate a provincial tax on electricity bills starting July 1, 2025, aiming to simplify charges and lighten the load for consumers battered by soaring power costs.
KSE-100 Index gains 60pc in FY25, best two-year performer globally
KARACHI: Pakistan’s benchmark KSE-100 Index hit a record high of 125,627.31 on Monday, closing the fiscal year 2024-25 with a remarkable 60% gain in rupee terms and 57% in US dollar terms, cementing its place among the world’s top-performing markets. The index rose one percent on the final trading day, propelled by robust year-end flows and China’s rollover of $3.4 billion in commercial loans.
Pakistan expects June inflation to hold steady at 3-4 percent as economic recovery gains traction
ISLAMABAD: Pakistan’s finance ministry forecasts inflation will stay between 3% and 4% in June, signaling stability in prices as the economy shows tentative signs of recovery bolstered by manufacturing gains and a stronger external position.
Pakistan accuses India of ‘water terrorism’
ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar accused India on Monday of waging ‘water terrorism’ against its neighbor, alleging that New Delhi is weaponizing the Indus River system in violation of a decades-old treaty.
World Bank appoints new country director for Pakistan
ISLAMABAD: The World Bank has appointed Bolormaa Amgaabazar as its new country director for Pakistan, effective Tuesday, succeeding Najy Benhassine, who has held the role since 2020.
Pakistan presses India to restore Indus Waters Treaty after global court ruling
ISLAMABAD: Pakistan on Monday pressed India to reinstate the Indus Waters Treaty, a decades-old pact ensuring water for 80 percent of Pakistani farms, following a key ruling from an international court that reaffirmed its authority over a festering dispute between the two nuclear-armed neighbors.
Govt seeks flat Rs1.15/unit power tariff cut for most consumers from July 1
ISLAMABAD: The government has moved to reduce electricity prices for consumers nationwide starting July 1, filing a petition with the National Electric Power Regulatory Authority (Nepra) for a Rs1.15 per unit tariff reduction.
Monsoon rains wreak havoc across Pakistan, leaving eight dead and 13 injured
ISLAMABAD: At least eight people were killed and 13 others injured on Sunday in a series of rain-related incidents across Karachi, Punjab, and Gilgit-Baltistan, as relentless monsoon rains pounded parts of the country, triggering flash floods, collapsing structures, and deadly electrocutions, authorities said.
Terrorists kill peace committee leader in northwest as violence surges
ISLAMABAD: Terrorists shot dead the leader of a local peace committee and two of his companions in northwestern Khyber Pakhtunkhwa province on Sunday, a deadly ambush that underscores the rising tide of militancy threatening community efforts to maintain order in the region.