IMF projects 3% growth for Pakistan economy in 2025
ISLAMABAD: The International Monetary Fund (IMF) has projected three percent growth for Pakistan’s economy in 2025. As per details, the IMF released the World Economic Outlook report in which it painted a picture of a subdued global economy for the year ahead. The report stated that the global growth to
Textile exports surge 10 per cent, hit $9.09 billion in H1 FY25
WEB DESK: Pakistan’s textile exports increased by 10 per cent during the first half of the current fiscal year (FY25), reaching $9.09 billion, up from $8.29 billion in the same period of FY24, as reported by the All Pakistan Textile Mills Association (APTMA). Although July 2024 experienced a 3 per
Federal govt implements pension system reforms
ISLAMABAD: Following the recommendations of the International Monetary Fund (IMF), the federal government on Wednesday announced significant reforms to its pension system for retired employees. The Finance Division has issued an Office Memorandum in this regard, stating the changes to pension calculation, restrictions on double pensions, and a revised methodology
PIA fares to plummet following major excise duty waiver
KARACHI: Pakistan International Airlines (PIA) is set to reduce its international ticket prices after the International Monetary Fund (IMF) approved a waiver on the Federal Excise Duty (FED), providing significant relief for travelers. The waiver, granted at the request of the current government, is expected to result in substantial savings
Mobile users pay Rs3.38 trillion in taxes in Pakistan
ISLAMABAD: The Ministry of Finance reported collecting over Rs3 trillion in taxes from mobile phone users over five years, with Rs3.38 trillion generated as cellular subscribers in Pakistan reached 193.1 million by August 2024. Meanwhile, gas prices have witnessed an unprecedented 800 per cent jump within a mere span of
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
IMF stunned by Pakistan’s economic recovery in just 14 months: Finance Minister
ISLAMABAD: Federal Finance Minister Muhammad Aurangzeb has said that the government’s reform agenda was discussed with the International Monetary Fund, the IMF is surprised at how the economy has managed in 14 months. The finance minister said during the news conference that he is in contact with the International Monetary
Medicine prices set to skyrocket under new government policy
The cost of medicines in the country is expected to increase due to the introduction of an 18% sales tax and the decision by the federal government to deregulate the prices of non-essential medicines. Following this decision, pharmaceutical companies will have the freedom to set and sell medicine prices according
Pakistan to end rooftop net metering for solar panels
During ongoing negotiations with the International Monetary Fund (IMF), Pakistan announced its decision to discontinue the net metering policy for rooftop solar panels. This change will shift to gross metering, potentially making electricity more expensive for consumers. Policy Shift Details According to The Express Tribune’s Shahbaz Rana, Pakistan informed the