State Bank of Pakistan announces major cut in interest rate
The State Bank of Pakistan (SBP) has announced a 2 per cent reduction in the interest rate.
Muhammad Aurangzeb warns businesses against relying on sales tax evasion
KARACHI: Federal Minister for Finance, Muhammad Aurangzeb, highlighted that business models cannot thrive on tax evasion, particularly sales tax on Saturday. Speaking to the media at the Overseas Chambers of Commerce in Karachi, the minister highlighted the government’s policies as a driving force behind economic stability and the gradual decline
PTI protest costs Pakistan Rs 190 dillion daily: Finance Minister
ISLAMABAD: Finance Minister Muhammad Aurangzeb has highlighted massive economic losses of the country’s opposition-led protests, particularly as Pakistan Tehreek-e-Insaf (PTI) continues its planned march towards the capital, Islamabad. The Finance Minister emphasized the critical need for political stability to protect the nation’s economy, citing the severe financial losses caused by
ECC approves Rs17 billion grant for Ministry of Communications
The Economic Coordination Committee (ECC) meeting under Finance Minister Muhammad Aurangzeb’s chairmanship on Tuesday in Islamabad approved a technical supplementary grant of about Rs17 billion for the Ministry of Communications. The ECC has also approved the Federal Board of Revenue (FBR) Professional Skills and Capacity Building Brief. According to the
Tax burden may rise on salaried class, if revenue falls short: Finance Minister
Federal Finance Minister Mohammad Aurangzeb has warned that if tax revenue does not increase in the current fiscal year, the burden on the salaried class and industries may rise. He highlighted signs of economic improvement, such as stable food prices and interest rates, though food items like pulses and chicken
Pakistan formally requests ¥10 billion loan extension from China
Pakistan has formally requested an additional CN¥10 billion (approximately $1.4 billion) loan from China to address the balance of payment crisis. Finance Minister Muhammad Aurangzeb presented this request to China’s Vice Minister of Finance Liao Min during the recent IMF/World Bank meetings in Washington, where he also proposed increasing the
Government imposes new restrictions on non-filers
Pakistan’s Finance Minister, Muhammad Aurangzeb, recently announced new restrictions on property and vehicle purchases for non-filers as part of broader economic reforms. Speaking at a press conference in Washington, he highlighted that these difficult decisions are necessary to drive long-term improvement, according to Express News. Aurangzeb explained that Pakistan aims
Pakistan to slash these jobs in major rightsizing move
The federal government of Pakistan has initiated the process of abolishing various support positions, including naib qasid, security guards, gardeners, and sanitary workers, following recommendations from the Rightsizing Committee, as per ARY News. Job cuts and hiring freeze According to sources privy to the situation, the government has decided to
How much will petrol prices increase from October 1?
The petrol prices in Pakistan are likely to the remain the same from October 1, 2024 as the price will only slightly upward by Rs0.11 per litre.
Interest rate may decrease, Finance Minister Muhammad Aurangzeb
WEB DESK: Finance Minister Muhammad Aurangzeb has indicated a potential reduction in interest rates. While addressing the Pakistan Business Forum in China, Finance Minister Muhammad Aurangzeb stated that there has been a significant decrease in the inflation rate, and all of Pakistan’s economic indicators are heading in the right direction.
