Here’s why falling inflation rates don’t lead to a drop in prices
Economic terms like “disinflation” and “deflation” often confuse the public, and can oversimplify statistics to present an exaggerated success. Following the announcement of a 44-month low inflation rate in September, some in the government rejoiced, declaring victory over soaring prices. However, the reality is more nuanced. The monthly inflation rate
IMF urges Pakistan to implement urgent reforms amid regional lag
The International Monetary Fund (IMF) has stressed the urgency of comprehensive reforms in Pakistan, citing the country’s failure to provide a satisfactory standard of living compared to its regional counterparts. The IMF report underscores significant shortcomings in Pakistan’s economic performance, particularly in areas like income per capita, competitiveness, and export
Govt rules out tax amnesty for smuggled vehicles
The Pakistani government has reassured the International Monetary Fund (IMF) that no tax amnesty schemes will be introduced concerning smuggled vehicles or asset declarations. There will be no tax exemptions, zero-rating, or tax credits granted, and no preferential tax treatment will be extended to any sector under this declaration. Focus
Federal govt to implement seven new tax measures with IMF approval
The federal government of Pakistan has reached an agreement with the International Monetary Fund (IMF) to implement seven new taxation measures during the fiscal year 2024-25 if revenue collection falls short of the projected target by 1 per cent in the current fiscal year. According to the IMF’s “Extended Arrangement
Economy shows signs of recovery amid govt-military collaboration
Pakistan’s economy is showing significant signs of recovery due to the coordinated efforts of the federal government and military leadership, dispelling widespread rumors of a possible default. Moreover, positive economic developments in recent days have signaled a brighter future of growth and prosperity for the country. The State Bank of
Pakistan tractor industry on verge of collapse amid new sales tax
Pakistan’s tractor industry is on the brink of collapse following the imposition of a 10 percent sales tax, which has thrown the sector into an unprecedented crisis, according to industry sources. The potential shutdown threatens the livelihoods of 500,000 families and directly impacts around 200,000 workers employed within the industry.
Government increases subsidy at utility stores
The Economic Coordination Committee (ECC) of the Cabinet approved a higher monthly subsidy disbursement to the Utility Stores Corporation (USC) on Thursday. Furthermore, the ECC set a turnover tax of 1.25 percent on the USC. In a meeting chaired by Finance Minister Muhammad Aurangzeb, the ECC also approved a request
Fitch upgrades Pakistan’s credit Rating to CCC+ following IMF deal
WEB DESK: Global credit rating agency Fitch has upgraded Pakistan’s long-term foreign-currency issuer default rating (IDR) to CCC+ from CCC, a significant improvement driven by the country’s recent deal with the International Monetary Fund (IMF). The upgrade, confirmed on Monday, reflects greater certainty over the continued availability of external funding
Electricity prices reach all-time high under PML-N government
In Prime Minister Shehbaz Sharif’s first month in office, the average electricity cost per unit in Pakistan surged to a record Rs42.59. According to Power Division documents, March 2024 saw the highest electricity rates ever paid by citizens in the country. The National Electric Power Regulatory Authority (NEPRA) received a
Here’s how much mobile phone prices have increased after 18% GST
After the federal budget for 2024-25 introduced an 18% GST, mobile phone prices have reached unprecedented levels, causing widespread concern among consumers. The most significant price hike is seen in phones costing Rs 200,000, which are now Rs 36,000 more expensive. Phones priced at Rs 150,000 have increased by Rs
