NEPRA raises electricity prices by 20 paisa per unit
WEB DESK: The National Electric Power Regulatory Authority (NEPRA) has issued a notification announcing an increase of Rs0.20 per unit in electricity prices as part of the first quarterly adjustment for the ongoing fiscal year. This adjustment will impose an additional burden of Rs1.187 billion on electricity consumers across the
Govt debt soars to Rs 67.8 trillion
In May, Pakistan’s federal government debt surged to Rs67.8 trillion, representing one of the most significant monthly increases on record. The State Bank of Pakistan (SBP) reported this rise, noting that the debt grew by Rs1.73 trillion in just one month, equating to an average increase of Rs56 billion per
Pension reforms: Govt bans multiple pensions, limits pensions to 10 years
WEB DESK: The government has approved new pension reforms, imposing a ban on securing multiple pensions and limiting pension provision for family members to 10 years. Under the reforms, pensions will be calculated based on 70 per cent of the average salary drawn during the last 24 months of service
Finance bill 2024-25: massive taxes on international flights
WEB DESK: The National Assembly of Pakistan on Friday approved the Finance Bill 2024-25, ushering in significant changes to taxation affecting foreign travel starting July 1, 2024. Under the new legislation, travelers purchasing international flight tickets will face increased excise duties. Economy and economy plus class tickets will now incur
What to expect from new budget of Pakistan?
Pakistan’s Federal Budget for the fiscal year 2024-25, amounting to Rs18.9 trillion, will be presented by Finance Minister Muhammad Aurangzeb in the National Assembly at 4pm today (Wednesday). This budget announcement follows the government’s recent acknowledgment that the anticipated economic growth rate of 2.4 percent for the current year falls
What happened during the talks between Pakistan and the IMF?
Pakistan and the International Monetary Fund (IMF) are in ongoing discussions regarding a new bailout package to address economic challenges. Sources familiar with the negotiations revealed that both the sides exchanged views to meet the financial needs for the upcoming fiscal year. According to sources, Pakistan discussed the initial estimates
Suzuki Alto was Pakistan’s best selling car in April 2024
Suzuki Alto became Pakistan’s best selling car in April following a massive increase in its sales last month. According to the Pakistan Automobile Manufacturers Association’s (PAMA) report, car sales increased by 12% in the country during April 2024. The report revealed that auto manufacturers sold a total of 10,500 units
FY 24-25 budget expected on June 7
In response to IMF pressure, the Pakistan government is contemplating ending tax exemptions in the forthcoming FY budget.
IMF warns of significant risks to Pakistan’s debt repayment capacity
IMF has expressed concerns over Pakistan’s ability to handle its debt amidst its economic challenges. The statement follows the arrival of an IMF support team in Pakistan to discuss a potential bailout package. According to the IMF’s recent staff report, Pakistan’s debt repayment capability faces significant risks, heavily reliant on
Punjab Govt Plans Feeder Buses for Metrobus Routes
The provincial government of Punjab has decide to introduce feeder buses along the Metrobus service routes between Rawalpindi and Islamabad. The decision was made in a meeting presided over by Provincial Minister for Communications and Works Malik Sohaib Bharat. The meeting reviewed the road network of the Rawalpindi district. The
