IMF projects 3% growth for Pakistan economy in 2025
Business
2 min read
119

IMF projects 3% growth for Pakistan economy in 2025

January 18, 2025 10:47 am
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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

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Textile exports surge 10 per cent, hit $9.09 billion in H1 FY25
Business
2 min read
39

Textile exports surge 10 per cent, hit $9.09 billion in H1 FY25

January 7, 2025 2:14 am
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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

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Federal govt implements pension system reforms
Business
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109

Federal govt implements pension system reforms

January 1, 2025 10:31 pm
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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

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PIA fares to plummet following major excise duty waiver
Pakistan
1 min read
85

PIA fares to plummet following major excise duty waiver

December 15, 2024 9:00 pm
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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

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Mobile users pay Rs3.38 trillion in taxes in Pakistan
Pakistan
2 min read
112

Mobile users pay Rs3.38 trillion in taxes in Pakistan

December 11, 2024 6:45 pm
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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

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Muhammad Aurangzeb warns businesses against relying on sales tax evasion
Business
2 min read
86

Muhammad Aurangzeb warns businesses against relying on sales tax evasion

December 7, 2024 7:27 pm
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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

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IMF stunned by Pakistan’s economic recovery in just 14 months: Finance Minister
Business
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117

IMF stunned by Pakistan’s economic recovery in just 14 months: Finance Minister

November 17, 2024 7:22 pm
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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

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Medicine prices set to skyrocket under new government policy
Pakistan
2 min read
252

Medicine prices set to skyrocket under new government policy

May 22, 2024 10:50 am
0

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

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Pakistan to end rooftop net metering for solar panels
Business
3 min read
269

Pakistan to end rooftop net metering for solar panels

May 19, 2024 12:58 pm
1

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

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IMF uncertain about approving new loan for Pakistan
Pakistan
1 min read
310

IMF uncertain about approving new loan for Pakistan

May 18, 2024 8:36 am
2

During a briefing in Washington, International Monetary Fund (IMF) Director of Communications, Julie Kozack, stated that it is still too early to determine whether ongoing discussions with Pakistan will result in a new loan package. When asked if the talks could lead to a staff-level agreement on a new loan

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