Tue, 21-Oct-2025

Watch Live

logo-black

Download App

اردو

finance minister

Russia said will ‘go to court’ if declared in bilking

by
Russia

Moscow will begin legal proceedings if it is declared in non-remittance by the West, finance minister Anton Siluanov said on Monday, after Russia was declared in “selective” non-remittance over the weekend. Russia the previous week paid its foreign dollar dues in rubles after it was not able to process the payment in international currency due … Read more

Indian-origin chancellor in UK questioned on wife’s link to Russia

by
uk

Rishi Sunak, the UK Chancellor of the Exchequer, was questioned on Thursday about Infosys, the Indian software services firm in which his wife Akshata Murty owns a stake. The Indian-origin finance minister, who is the son-in-law of Infosys co-founder Narayana Murthy, was challenged on-air why his counsel to businesses was not being followed within his … Read more

Striving to win big

by
imf

KARACHI: To win funding from the International Monetary Fund (IMF), Pakistan has passed a mid-year finance bill withdrawing exemptions of Rs350 billion on sales tax and a law to grant its central bank greater autonomy. The IMF set a condition of budgetary tightening for the revival of a stalled $6 billion package before the approval of … Read more

Sri Lankan economy slumps in face of forex crisis

by
Sri Lankan economy

COLOMBO: Sri Lanka’s economy shrank in the third quarter as a foreign exchange crisis wrecked its recovery from the coronavirus pandemic, official data showed on Thursday. The GDP contracted 1.5 per cent on-year in the three months to September, the department of census and statistics said, ending four consecutive quarters of growth. The island’s tourism-dependent economy … Read more

Fitch hits Turkish banks with rating cuts as new finance minister takes reigns

by
Turkish banks

Fitch Ratings has downgraded the outlooks of more than 20 Turkish banks just weeks after Ankara appointed a new finance minister, Arab News reported. Nureddin Nebati was appointed treasury and finance minister on December 2 by President Erdogan and has taken the reigns of an ailing economy marred by a tanking currency. Fitch said on Friday: “The … Read more

Mexico president scraps choice for central bank chief

by
Mexico president

MEXICO CITY: Mexican President Andres Manuel Lopez Obrador has withdrawn his nomination of former finance minister Arturo Herrera to head the central bank, Herrera announced. Lopez Obrador had proposed his then finance minister in June to be governor of the Bank of Mexico, subject to approval by the Senate. “The president informed me a week ago … Read more

Progress on establishment of International E-payment Gateway reviewed

by

ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin presided over the meeting on the establishment of Pakistan International E-payment Gateway (IPG). The IPG will pave the way for financial inclusion and payment digitalisation, which is a sub-component of the nine pillars of the e-Commerce policy. A consultative session was held with all the relevant … Read more

From now FBR will not interfere in politics

by
fbr

Federal Finance Minister Shaukat Tareen has hinted at eliminating the possibility of political interference in the Federal Board of Revenue (FBR). Finance Minister Shaukat Tareen visited the Federal Board of Revenue headquarters, where he addressed officials of the Federal Board of Revenue. “The government is committed to giving full autonomy to the FBR. The possibility … Read more

Shaukat Tareen has allowed the provinces to continue collecting taxes

by
Shaukat Tareen

Finance Minister Shaukat Tareen has allowed the provinces to continue collecting taxes from restaurants and transporters. A meeting of the National Tax Council was held under the chairmanship of Finance Minister Shaukat Tareen, which was attended by officials from all four provinces and FBR. In the meeting, Chairman FBR gave a detailed briefing to the … Read more

FBR and KPRA decide to share data understanding of utmost profit

by
KPRA

The Federal Board of Revenue (FBR) and Khyber Pakhtunkhwa Revenue Authority (KPRA) decided to share data and info for the understanding of maximum profit.

To surge profit and potential the FBR and KPRA would change expressive apparatus on agriculture income/tax.

Both sides decided to iron out changes relating to sales tax on services associated with four significant sectors including construction, restaurants, transport and communication, and toll manufacturing.

Khyber Pakhtunkhwa Board of Revenue Senior Member and senior associate also joined the meeting.

In the meeting, the matters of mutual interest between the Federal Board of Revenue and Khyber Pakhtunkhwa Revenue Authority were deliberated.

The FBR chairman repeated his commitment to growing a close working association between FBR and KPRA.

Khyber Pakhtunkhwa Finance Minister hoped that both FBR and KPRA would grow a lasting system to build close collaboration for the purpose of recognizing potential taxpayers and growing revenue.

[embedpost slug=”contactless-biometric-verification-service-for-banking-introduce-by-pakistan”]

Read more

FPCCI concerned over fixation of steel prices for sales tax

by

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the price fixation of steel products for the imposition of sales tax. The apex trade body in a communication sent to Finance Minister Shaukat Tarin on Wednesday, highlighted serious issues of the small and medium steel re-rolling sector. The FPCCI … Read more

Federal, provincial govts coordination must for GST regime harmonisation: Tarin

by
CPEC ushers in new era of economic prosperity Tarin

ISLAMABAD: The federal and provincial governments would move towards harmonising taxes across the multiple jurisdictions to facilitate the businesses and reduce the cost of doing business in Pakistan, a senior government official said on Wednesday. Presiding over the first meeting of the National Tax Council (NTC) held at the Finance Division, Federal Finance and Revenue … Read more

IMF programme to be pursued without compromising on economic growth: Tarin

by
IMF

ISLAMABAD: The government wants to continue the International Monetary Fund (IMF) Programme but it will not compromise on economic development. Launching the comprehensive roadmap, focusing in the vertical form on 14 special sectors of the economy, to ensure planned, inclusive and sustainable economic growth in the country, Federal Minister for Finance and Revenue Shaukat Tarin … Read more

ECC gives go-ahead to sugar, wheat import

by

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved two summaries for import of 200,000 tonnes of sugar and 400,000 tonnes of wheat to curtail food inflation and stabilise prices. Federal Minister for Finance and Revenue Shaukat Tarin presided over the meeting. The ECC approved the summary tabled by the Ministry of … Read more

ECC extends power, gas subsidies for export-oriented sectors

by

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Monday approved the continuation of electricity and gas subsidies for export-oriented sectors to support growth momentum in exports during the current financial year. This decision was taken during the meeting of the ECC, which was presided over by Federal Minister for Finance and Revenue Shaukat … Read more

Circular debt curtailed by Rs408 in FY21: minister

by
World Bank

ISLAMABAD: The circular debt has been curtailed by Rs408 billion in the outgoing fiscal year, a senior government official said on Wednesday. During a meeting with the World Bank delegation, led by its Vice President for South Asia Hartwig Schafer, which called on him, Federal Minister for Energy Hammad Azhar said that due to the … Read more

India Is Still In Cryptocurrency Denial Mode

by
India

Cryptocurrencies are completely ignored by the government of India. Finance Minister Nirmala Sitharaman told Parliament on July 27 that the Indian government collects no data on the cryptocurrency market in response to a query from a member of parliament (MP).

She stated that the government is unaware of the precise number of cryptocurrency exchanges or investors in the country. She also stated that her ministry has received no information regarding the use of these exchanges for money laundering or drug trafficking.

In the Upper House (Rajya Sabha), an MP from her party, the BJP, had inquired if the government was aware of the number of crypto exchanges in the country. The finance minister responded by saying, “This information is not collected by the Government.”

In response to another query from the same BJP MP, Sushil Kumar Modi, she stated that cryptocurrency investors who purchased coins outside of India would not be subject to the Equalization Levy. According to Sitharaman, “Equalization levy is imposed on e-commerce operators, not on the investor.”

[embedpost slug=”bangladesh-bank-advises-against-using-cryptocurrencies”]

Read more

Proposed policy aims at expansion of auto industry in Pakistan: Tarin

by
automobiles

ISLAMABAD: The proposed Auto Industry Development and Export Policy (AIDEP) aims at expansion of the auto industry in Pakistan by increasing the production of cars, motorcycles, tractors, etc, a senior government official said on Thursday. Presiding over the meeting to review the draft Auto Industry Development and Export Policy 2021/26, Federal Minister for Finance and … Read more

Indian delta virus, a threat in the resumption of economic activities

by
Indian Delta virus

The members of G20 countries have declared the Indian Delta Virus a threat to the resumption of economic activity.

In a statement, the finance ministers of the G20 countries warned that the rapidly spreading Indian Delta Virus was slowing down activities, hampering the recovery of the economy.

The G20 finance ministers have also expressed concern over the slowdown in the vaccination campaign in various countries.

Meanwhile, the French Minister of Economy says that the best economy has been predicted by the G20 countries, but the Indian type of coronavirus will turn everything upside down.

[embedpost slug=”cryptocurrency-could-be-the-solution-for-the-financial-problems”]

Read more

Budget 2021-22: What are the government’s revised plans

by
Shaukat Tarin Budget speech

Finance Minister Shaukat Tarin delivers the final session of debate on Budget 2021-22 in the National Assembly. House considers recommendations made by Senate for incorporation to Budget 2021-22. Tarin emphasized “comprehensive and sustainable development this time around” during his budget speech. “We will give interest-free loans up to Rs300, 000 for agriculture. An interest-free loan … Read more

Finance Minister answers the reason behind going to IMF

by
Finance Minister hints at "extraordinary" drop in flour prices in next few days

Finance Minister Shaukat Tarin spoke about the major challenges faced by the PTI government Tarin further explained how the government tried to deal with these challenges with limited resources. The biggest difficulty, he said, “When the PTI government came to power, was the country’s current account deficit of $20 million”. In the past, growth could … Read more

Khyber Pakhtunkhwa Announced Its Budget Plan For The Fiscal Year 2021-22

by
The Khyber Pakhtunkhwa Announced Its Budget Plan For The Fiscal Year 2021-22

Khyber Pakhtunkhwa (KPK) government presented a budget of Rs1,118.3 billion for the Fiscal Year 2021-22. The government announced that the budget will be allocated as Rs371 billion for the Annual Development Plan (ADP) and Rs747.3 billion for the current expenditure. Chief Minister Khyber Pakhtunkhwa Mahmood Khan said that the current budget was amid the development … Read more

$17.3mn approved to clear Roosevelt Hotel’s liabilities

by
Roosevelt-Hotel-PIA

The Economic Coordination Committee (ECC) of the cabinet on Wednesday permitted $17.3 million funding to clear the Roosevelt Hotel’s liabilities. A meeting of the ECC chaired by Finance Minister Shaukat Tarin has also approved Rs 274 million grant for state televisions and news agencies. It was decided in the meeting to provide additional wheat to … Read more

FPCCI rejects tax officials’ arrest powers

by
6th of September

KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday rejected the proposed powers for the tax officials to make arrests on concealment of income, a statement said. The FPCCI President Mian Nasser Hyatt Maggo slammed the amendment to Section 203A of the Income Tax Ordinance, 2001, proposed through the Finance Bill, … Read more

‘We should not play politics with the poor’, Shaukat Tarin

by
shaukat-tareen

Finance Minister Shaukat Tarin addressing the post-budget press conference in Islamabad today, stated that the government had presented an aggregate growth budget, and their challenge is to alleviate the GDP. The finance minister said that the poor and deprived in Pakistan had not conventional loans and training for the last 70 years. He said loans … Read more

In Pre-budget seminar, PML-N chides PTI over economic policies

by
Pre-Budget seminar

PML-N on Thursday slammed the incumbent government for the economic policies adopted in the last three years as the budget for the fiscal year 2021-22 is right around the corner. Addressing the Opposition’s pre-budget seminar, former Prime Minister Shahid Khaqan Abbasi said that Prime Minister Imran Khan “has no knowledge of the basics of economics” … Read more

Finance Minister Vows To Make E-commerce More Sustainable Through Digitization

by
Finance Minister Vows To Make E-commerce More Sustainable Through Digitization

On economic strategy, Finance Minister Shaukat Tarin said that like Turkey, Pakistan needs economic growth which has been achieved through long-term economic policy. Addressing a budget webinar in Islamabad, he said that apart from the 1960s, Pakistan has never had a sustainable economic policy. “When I took over the portfolio, I added a few economists … Read more

Pakistan’s economic growth to increase by 6 percent: Finance Minister Shaukat Tarin

by
Finance Minister Vows To Make E-commerce More Sustainable Through Digitization

Finance Minister Shaukat Tarin on Sunday revealed that the government will be giving targeted subsidies to the power sector in 2021. According to the details, while addressing a news conference in Islamabad today, Shaukat Tareen said that the government is focusing on enhancing exports, revenue collections, and many different administrative measures in a bid to … Read more

Menu

Latest

Entertainment

Lifestyle