Tue, 21-Oct-2025

Punjab Govt to present budget on June 13

Punjab Govt

LAHORE: The Punjab government has decided to present the provincial budget for the fiscal year 2025–26 on June 13. The decision was made after the federal government finalized its financial targets. Following this, Punjab began giving final shape to its upcoming budget. Sources indicate that the new budget is expected to avoid introducing any new … Read more

Budget Not Business Friendly, Rejects: Atif Ikram Shaikh

Budget Not Business Friendly

Islamabad: Atif Ikram Sheikh President FPCCI has said in a post budget press conference that the budget proposals are not business friendly which will discourage most sectors including exports. Regarding ease of doing business, nothing was seen in the budget, similarly, the revenue target seems unrealistic. We demand that the current budget proposals be changed … Read more

Sindh Cabinet approves Rs 3.056 trillion budget for 2024-25

Sindh Cabinet

KARACHI: The Sindh Cabinet approved Rs3.056 trillion budget proposal after thorough consideration for the next financial year 2024-25 in a pre-budget Cabinet meeting at CM House here on Friday.

The Provincial Cabinet approved the budget for the next financial year 2024-25 in the meeting chaired by the Sindh Chief Minister Syed Murad Ali Shah.

The Chief Minister Syed Murad Ali Shah said that the budget had been prepared to implement 10 points of the PPP Chairman Bilawal Bhutto Zardari.

He said that the time was beginning to implement the promises made by Bilawal Bhutto Zardari in the elections.

The budget contained proposals to eradicate poverty and provide facilities to the people, he said adding that the meeting considered the proposal to increase the salaries of government employees in the new financial year.

The Sindh Cabinet also considered increasing the pension of retired employees.

While participating in the budget debate, Pakistan Peoples Party (PPP) Senator Rubina Qaim Khani said that the PPP has always focused on addressing the issues of common people.

She said that her party is committed to strengthening democracy and the parliament.

She urged the government to provide relief to common people and farmers, as this would ensure improvements in the lives of the masses.

She expressed disappointment that the PPP was not consulted during the budget preparation process and called for increased funding for the education and health sectors.

She advocated for efforts to empower women and minorities in the country. Khani also proposed that the government include ten specific suggestions in the budget to address these concerns effectively.

Pakistan Tehreek-e-Insaf (PTI) Senator Fawzia Arshad emphasized the need for increased funding for education, health, and the upliftment of common people.

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Budget: Sindh govt allocates above Rs7,744 million for development projects

Budget

The Finance Department of Sindh has released funds for ongoing development projects across the province. This includes the release of the second installment of funds for these development works, totaling more than 7,744 million rupees. The released budget allocations cover various sectors, including Works and Services, Local Government, Education, Colleges, Industries, irrigation, health, culture, and … Read more

Ranbir Kapoor explains Brahmastra’s massive budget

Ranbir

Brahmastra was one of the most anticipated Bollywood films of the year 2022. From day one, the Ayan Mukerji-directed film has broken all box-office records. The film, starring Ranbir Kapoor, Alia Bhatt, Mouni Roy, Amitabh Bachchan, Nagarjuna, and Shah Rukh Khan, recently crossed the Rs 200 crore mark at the box office It has received … Read more

AJK govt presents over Rs163 bn budget for FY2022-23

AJK Finance Minister Abdul Majid Khan presented the budget.

MUZAFFARABAD: Azad Jammu and Kashmir government presented the budget for the next fiscal year with a total outlay of over Rs163 billion. Minister for finance Abdul Majid Khan presented the budget for coming fiscal year and revised estimates for current fiscal year in the legislative Assembly in the absence of opposition members who boycotted the … Read more

The Canadian Senate approves the budget on housing and Russian assets

Canadian Senate

Canada’s Senate passes Prime Minister Justin Trudeau’s budget with no changes. Bill C-19 includes a two-year ban on foreign home buyers and the power to confiscate assets seized from Russia. Budget spending remains expansive, though less so than in the previous two years. Canadian Senate on Thursday passed Prime Minister Justin Trudeau’s budget plan, taking … Read more

FPCCI concerned over budget anomalies

FPCCI

KARACHI: Shabbir Mansha, acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed concerns over the glaring anomalies in the Federal Budget 2022/23, a statement said on Tuesday. “We have noticed anomalies in the Customs duty, regularity duty, income tax and sales tax,” he added. Mansha noted that the turnover … Read more

Budget appears to be balanced, which is beneficial In tough times

budget

President ICCI Muhammad Shakeel Munir said that the budget has taken some good steps which are commendable. A full reaction on the budget will be given after its detailed review. He said the introduction of the ADRC system was a welcome step for better resolution of tax disputes. The tax threshold for proprietors and AOPs … Read more

Budget 2022-23: Big tax and duty cuts to boost the film industry

Budget

The government has announced the establishment of a Film Finance Fund. National Film Institute and Post-Film Production Facility. Saima Ali Khan, a stage actress, said that the government’s offer of medical. The government has announced the establishment of a Film Finance Fund with an annual budget of one billion rupees, as well as the launch … Read more

NFT art exhibition to assist the global disaster may open soon

NFT 

The high-quality artwork NFT platform, RedKiteNFT, collaborated with 33 traditional and modern NFT artists throughout the globe, inclusive of Fanakapan, Dalek, and Ben Eine, to launch a collection of NFT artwork show “Humanity” day after today (May 31, 2022). This show seeks to elevate the budget for refugees suffering from conflicts international.

Marrying satisfactory arts with web3, Humanity artwork sale will feature 256 NFTs, with one artwork from each of the 33 artists offered in constrained editions of eight at the Polygon blockchain.

The catalyst of this art display is primarily the continued Ukraine-Russia conflict. Through this, RedKiteNFT intends to raise the focus on the worldwide humanitarian crisis that has prompted the displacement of thousands of groups. The finances gathered thru the help of global art collectors, curators, and lovers might be thereby donated to The Refugee Council, The Voices of Children Foundation, and UNICEF UK, Children’s Emergency Fund.

Speaking about the 2021-launched company and its initiative, the Chief Marketing Officer of RedKiteNFT, James Robbins stated, “Humanity has been a voyage of discovery for us. The charities we’ve been working with have opened our eyes to the global refugee crisis and the amazing long-term support they provide. It’s compelling motivation to try and pull something off on this scale, so early in our journey.”

The cost break up of each NFT is 70:30, in share between RedKiteNFT and the artists. All participating artists will donate a minimum of 35% of their NFT’s promoting charge to the charity with a voluntary option to donate more. RedKite will be donating 25% to the reason, keeping five% to cowl prices.

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Budget 2022-23: Most challenging issue facing economic planners

Budget

In line with the mounting inflationary pressures and the anticipated slowdown in the gross domestic product (GDP) boom, financial planners are having difficulty preparing the budget for the next monetary year 2022-23, The News said Wednesday. Keeping in view the triumphing situation, the general public will in all likelihood keep facing double-digit inflation in the … Read more

Budget 23-2022 cast aside $100 billion for improvement of poor areas

Budget

In the next budget, it has been decided to allocate up to Rs 100 billion in the development budget for the backward areas. According to sources in the Ministry of Planning, it has been decided to allocate up to Rs 100 billion in the development budget for the backward areas in the next financial year … Read more

When would the government release the federal budget for 2022-2023?

NA budget

The federal authorities on Friday introduced the agenda for the submission of the federal price range for the upcoming fiscal year 2022-23. The Annual Budget for FY23, together with the Finance Bill 2022, is scheduled to be offered in the National Assembly on Friday, the tenth of June 2022. “Prime Minister [Shehbaz Sharif] has been … Read more

LTO Karachi crosses Rs1 trillion collection

LTO

KARACHI: The Large Taxpayers Office (LTO) Karachi has crossed the tax collection mark of Rs1 trillion in just eight months (July–February) of the fiscal year 2021/22. The LTO Karachi made history by showing a remarkable achievement of collecting unprecedented Rs1,003.45 billion in all taxes during the period of July 2021 to February 2022, as against … Read more

IMF official urges  ‘deep reforms’ to  Tunisian economy

tunisian

TUNIS: Tunisia’s crisis-stricken economy needs “deep reforms” such as slashing its vast public wage bill, the International Monetary Fund’s outgoing country chief has said as the government seeks a new bailout. Jerome Vacher, speaking in an interview at the end of his three-year term as the global lender’s envoy to the North African country, said … Read more

Govt to raise Rs4.7 trillion through T-bills auction in three months

T-bills

KARACHI: The government will raise Rs4.7 trillion for budget financing through the sale of treasury bills during the first three months of 2022. According to the auction targets for the next three months (January-March 2022) issued by the State Bank of Pakistan (SBP) on Wednesday, the government would auction the Market Treasury Bills (MTBs) worth … Read more

KSE-100 opens bullish today

Stocks down 150 points over profit-taking

KARACHI: The Pakistan bourse opened on a bullish note as the KSE-100 index witnessed an increase of 137.78 points, or 0.31 per cent, in the first hour of trading on Friday. The Pakistan Stocks on Thursday rebounded and remained in a green zone on as the mini-budget was approved by the cabinet, while the year-end … Read more

Japan unveils record annual budget, defence spending

Japan

TOKYO: Japan’s government on Friday unveiled its biggest ever full-year budget, including record defence spending to counter intensifying regional security threats. Cabinet ministers approved a draft national budget of a whopping 107.6 trillion yen ($940 billion) for the 2022/23 fiscal year, including 5.4 trillion yen for defence. Both figures have been increasing steadily for a decade … Read more

Saudi Arabia ends the year with local Sukuk issuance worth $110.5 million

Sukuk

RIYADH: The Saudi government offered denominated Sukuk in Saudi riyals worth SR415 million ($110.5 million) for the December issuance, the National Debt Management Centre announced. The issuance comes under the kingdom’s riyal-denominated Sukuk programme. The first tranche had a size of SR200 million and matures in 2029, while the second tranche was valued at SR215 … Read more

Tokyo 2020 trims cost estimate for pandemic Olympics

Tokyo

TOKYO: Tokyo Olympics organisers revised the estimated cost of the Covid-postponed Games downwards on Wednesday, but the figure was still around double the budget proposed in the city’s original 2013 bid. Despite losing out on ticket sales due to a near-total ban on spectators, organisers said they had saved cash by simplifying events and avoiding the … Read more

Saudi Arabia projects budget surplus after years of deficits

Saudi Arabia

RIYADH: Saudi Arabia approved its 2022 budget on Sunday, projecting a surplus for the first time since oil prices collapsed in 2014. King Salman said the improved fiscal situation for the world’s biggest oil exporter comes “after the Kingdom of Saudi Arabia has overcome the economic repercussions and the exceptional stages of the coronavirus pandemic”. Cited … Read more

Saudi Arabia expects budget surplus of $24 billion in 2022

Saudi Arabia

RIYADH: Saudi Arabia expects a budget surplus of SR90 billion riyals ($24 billion), Saudi Press Agency reported, citing a cabinet statement. The total revenues for 2022 is estimated at SR1.05 trillion, while the spending is at SR955 billion, the statement said; following a meeting chaired by King Salman. With the Saudi budget statement for the 2022 fiscal … Read more

US may exhaust funds by Oct 18 unless debt limit raised: Yellen

WASHINGTON: The US Treasury is likely to exhaust measures to keep funding the government on October 18, and will run out of cash unless Congress raises the federal borrowing cap, Treasury Secretary Janet Yellen warned on Tuesday. After the date, “Treasury would be left with very limited resources that would be depleted quickly. It is … Read more

Saudi Arabia closes $1.7 billion Sukuk programme

Saudi Princess

RIYADH: The National Debt Management Center (NDMC) has closed the September 2021 issuance under the Saudi Arabian government’s riyal-denominated Sukuk programme, Arab News reported. The size was set at SR6.675 billion ($1.7 billion), NDMC said in a statement. The issues were divided into three tranches: a SR3.170 billion tranche, which matures in 2029, a SR2.855 … Read more