Pakistan’s inflation rate dropped to 4.1 per cent in December 2024
WEB DESK: Pakistan’s headline inflation, measured by the Consumer Price Index (CPI), dropped to 4.1 per cent year-on-year in December 2024, down from 4.9 per cent in November, according to data released by the Pakistan Bureau of Statistics (PBS) on Wednesday. This marks the lowest inflation rate in 81 months,
Petrol price to remain unchanged for the next two weeks
WEB DESK: The government has decided to keep the price of petrol unchanged while announcing a reduction in the prices of diesel, kerosene, and light diesel oil for the upcoming 15 days. According to a notification issued by the Ministry of Finance, the price of petrol will remain at PKR252.10
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
Pakistan and IMF agree to avoid mini-budget: report
ISLAMABAD: Pakistan’s economic team and the Internal Monetary Fund (IMF) team agreed that there would be no mini-budget and no general sales tax on petroleum products on Wednesday. According to sources, the government’s economic team has assured the IMF that the agricultural tax will be collected from next year. The
UAE Introduces E-Invoicing System to Streamline Tax Collection
DUBAI: The UAE has introduced an e-invoicing system aimed at transforming tax collection and record-keeping for businesses, marking a significant step toward digital innovation in the financial sector. The Ministry of Finance (MoF) has issued Federal Decree-Law No. 17 of 2024, which amends key provisions of Federal Decree-Law No. 28
Finance Minister leaves for USA to attend IMF, World Bank meetings
Finance Minister, Muhammad Aurangzeb has left for the United States (US) to attend the annual meetings of the International Monetary Fund (IMF) and World Bank.
Govt initiates firing of daily wage workers
The federal government has officially commenced the termination of daily wage employees as part of its rightsizing strategy to enhance operational efficiency. A notification from the Establishment Division confirmed that effective September 30, 2024, the services of daily wage workers have been transferred to a surplus pool, signaling the start
Federal govt grants special allowance to low-salary employees
The Federal Ministry of Finance has issued a notification to set the minimum salary or wages at 37 thousand rupees per month. According to the notification of the Ministry of Finance, from July 1, 2024, the minimum salary has been fixed at 37 thousand rupees instead of 32 thousand rupees.
Govt proposes plan to cut electricity rates by Rs5 per unit
Government considers Rs4 trillion payment to IPPs for Rs5 per unit electricity rate cut The federal government has been presented with a substantial relief plan involving a lump sum payment of Rs. 4 trillion to Independent Power Producers (IPPs) in exchange for reducing electricity bills by Rs5 per unit across
Petrol price dropped by Rs4.74 per litre in third consecutive review
ISLAMABAD: The federal government of Pakistan has announced a reduction in petrol price by Rs4.74 per litre, marking the third consecutive fortnightly review in response to falling global oil prices. The price of petrol has now decreased to Rs268.36 per litre from the previous Rs273.10 per litre. In addition, the