ISLAMABAD: The government will roll out foreclosure laws to spur bank lending in the housing sector and clamp down on tax evasion to formalise its cash-reliant economy, Finance Minister Muhammad Aurangzeb said Friday.
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Trump renews call for US mediation in India-Pakistan Kashmir dispute
ISLAMABAD: President Donald Trump has reiterated his offer to mediate the longstanding Kashmir dispute between India and Pakistan, following a recent escalation of tensions that saw both nuclear-armed neighbors engage in military actions before agreeing to a US-brokered ceasefire.
IFC boosts Reko Diq mine with $400 million loan, total financing hits $700 million
ISLAMABAD: The International Finance Corporation will provide a $400 million subordinated loan for Pakistan’s Reko Diq copper-gold mine, according to an IFC disclosure on Friday, boosting its total financing for the project to $700 million and signaling strong support for the country’s natural resources sector.
SBP seen holding policy rate as Israel-Iran tensions fuel inflation risks
KARACHI: The central bank is expected to keep its policy rate unchanged on Monday as escalating tensions between Israel and Iran stoke fears of rising commodity prices, threatening a resurgence of inflation in the financially strained country
Flags of Israel and Iran, as conflict between countries.
Pakistan condemns Israeli strikes on Iran, issues travel advisory
ISLAMABAD: Pakistan on Friday issued a sharp rebuke of Israel’s military strikes on Iran, labeling them “unjustified and illegitimate” and a breach of international law and a peril to regional stability, as the Middle East braced for further escalation following Israel’s assault on Iranian nuclear and military targets.
Enforcement or heavier taxes
The latest budget is a reckless bet that the government can muscle through enforcement measures no one believes are feasible. Finance Minister Muhammad Aurangzeb has staked the country’s fiscal future on a Rs14.1 trillion revenue target, a 19% jump from Rs11.9 trillion, underpinned by a crackdown on tax dodgers and IMF-mandated austerity. The problem? This plan assumes a level of political backbone and economic resilience that Islamabad has rarely shown. It’s less a strategy than a prayer, and the odds are stacked against it.
US Centcom chief praises Pakistan as ‘phenomenal partner’ in counter-terrorism efforts
ISLAMABAD: Army General Michael Kurilla, commander of US Central Command (Centcom), called Pakistan a “phenomenal partner” in counter-terrorism efforts, citing the country’s role in combating groups like the Islamic State-Khorasan (IS-K) amid persistent violence in Balochistan province.
US State Department hopeful on Trump’s Kashmir role
ISLAMABAD: The US State Department signaled optimism on Tuesday that President Donald Trump could help resolve the decades-old Kashmir dispute, a proposal Pakistan embraced but India swiftly rejected.
Pakistan to slash tariffs, abolish duties in bold export push
ISLAMABAD: Pakistan is set to slash its overall tariff regime by more than 4% over the next five years as part of a bold reform package aimed at turbocharging exports and pivoting the nation toward an export-led growth model, Finance Minister Muhammad Aurangzeb said on Wednesday.
IMF pleaser, growth freezer budget
ISLAMABAD: Pakistan’s Rs 17.6 trillion budget for 2025-2026, rolled out by Finance Minister Mohammad Aurangzeb, is a high-wire act, slashing the deficit to 3.9% of GDP from 5.9% to win IMF applause, while tiptoeing around the political third rail of taxing the untaxed and sparking growth in an economy stuck in neutral. Revenue projections hit Rs 19.3 trillion, Rs 14.1 trillion from taxes, Rs 5.1 trillion from non-tax sources, a blueprint drenched in discipline. Yet, with unemployment at 6.3% (and a jaw-dropping 44.9% for youth), a 241.5 million population swollen by a youth bulge, and an informal economy mocking the tax net, this budget risks being a masterclass in caution rather than the bold stroke Pakistan desperately needs. Stability is the buzzword here, but it might just be a polite term for paralysis.