Pakistan clinches $1 billion loan from Middle Eastern banks
WEB DESK: Pakistan has finalised agreements for $1 billion in short-term loans with two Middle Eastern financial institutions, Finance Minister Muhammad Aurangzeb announced during the World Economic Forum. The loans, with an interest rate of 6 -7 per cent and a maturity of up to one year, include a bilateral
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
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
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
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
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 urged to give one-month extension for tax returns
The Rawalpindi-Islamabad Tax Bar Association has written a letter to Prime Minister (PM) Shehbaz Sharif, Finance Minister Muhammad Aurangzeb, and Federal Board of Revenue (FBR) Chairman, requesting an extension for filing tax returns until October 31.
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
