Tue, 21-Oct-2025

IMF deal: Pakistan confident of securing required external loans

IMF deal: Pakistan confident of securing required external loans

ISLAMABAD: Pakistan is confident it will meet a key International Monetary Fund (IMF) condition by securing timely loans and rollovers from friendly countries, official sources said on Thursday. According to the Ministry of Finance, the government expects $12 billion in deposits from allied nations to be rolled over without delay. Saudi Arabia, China, and the … Read more

Over 15 state entities suffer record 59tr losses: official report

official report

ISLAMABAD: The Ministry of Finance has released a report revealing that the combined losses of over 15 state-owned enterprises(SOEs) have exceeded Rs59 trillion, posing serious concerns over the financial health of public institutions. According to the report, during the first six months of the previous fiscal year, the deficit surged by Rs3.45 trillion. Additionally, pension-related … Read more

Govt rejects proposal to raise sales tax on locally assembled small cars

Budget 2025-26: Toyota Yaris, Corolla Expected Prices after New Tax

ISLAMABAD: The federal government has rejected a proposal to increase the sales tax on locally manufactured or assembled cars up to 850cc in the upcoming Budget for FY 2025–26. According to sources in the Ministry of Finance, the Federal Board of Revenue (FBR) had proposed raising the sales tax rate from 12.5% to 18% on … Read more

Govt to present Rs17.6tr federal budget for FY26 today

Govt

ISLAMABAD: The federal government is set to unveil the budget for fiscal year 2025–26 today, with the total outlay estimated at Rs17.6 trillion. According to sources in the Ministry of Finance, as per initial estimates, the federal revenue target is projected at Rs19.3 trillion, out of which the Federal Board of Revenue (FBR) is expected … Read more

UAE Introduces New Tax Relief Measures for Businesses and Partnerships

UAE

UAE announces new tax relief and administrative measures. UAE introduces new tax relief and administrative measures to support local businesses, foreign partnerships, and family foundations. The strategy specifically aims to reduce compliance challenges for taxpayers. The United Arab Emirates (UAE) has announced new tax relief and administrative measures aimed at supporting local businesses, foreign partnerships, … Read more

Pakistan Raises Train Fares Again—Checkout New Ticket Prices!

Pakistan Raises Train Fares Again—Checkout New Ticket Prices!

Pakistan Railways has raised passenger train fares. The railway administration announced a one percent fare hike across all classes. The Ministry of Finance raised petrol prices to Rs275.60 per liter. LAHORE – Pakistan Railways has increased passenger train fares following a rise in petroleum prices by the federal government in the second half of July … Read more

Smartphone Installment Policy Awaits Approval From Two More Ministries

Smartphone Installment Policy Awaits Approval From Two More Ministries

The Ministry of IT and Telecom is ready to progress its mobile phone installment policy. The policy prepares to seek approval from the Ministry of Law and the Ministry of Finance. The ministry is getting ready to present the policy for approval by the federal government. The Ministry of IT and Telecom is ready to … Read more

Pakistan fulfills all key IMF conditions for first review talks

IMF seeks plan to collect Rs6,670 bn by June

The first review negotiations with the IMF will start on November 2. It is likely to increase the levy on diesel from Rs 55 to Rs 60. Pakistan is hopeful of successfully completing the first quarter review. Islamabad: Pakistan has fulfilled all the important conditions for the first review talks with the International Monetary Fund … Read more

Pakistan-IMF to start new round of negotiations in November

Pakistan-IMF

The concerned ministries have completed the evaluation of the performance of the targets. The talks will discuss energy sector reforms. Economic performance from July to September will be reviewed in talks. Islamabad: Negotiations between Pakistan and the International Monetary Fund (IMF) for a tranche of $700 million will be held in the first week of … Read more

ECP demands immediate release of Rs 10b for elections

ECP demands
  • The funds were sought in a meeting with Ministry of Finance.
  • ECP sought a total Rs15 billion from the government for elections.
  • The funds should be provided under the revised budget for polls.

ISLAMABAD: The Election Commission of Pakistan (ECP) has sought Rs15 billion from the government in order to make preparations for elections in Punjab and Khyber Pakhtunkhwa (KP).

According to details, the funds were sought during a meeting held between officials from ECP and the Ministry of Finance. The ECP also demanded the immediate release of Rs10 billion for the perpetration of polls in two provinces.

During the meeting, the ECP sought Rs15 billion from the government for conducting elections in Punjab, KP. Sources added that the finance ministry has already provided Rs5 billion to the commission in this regard.

Meanwhile, sources claimed, the Secretary of Finance has assured ECP that its demand will be presented before the government. He said the government does not even have money for daily expenses.
Officials noted that the withdrawal of resignations from Pakistan Tehreek-e-Insaf (PTI) MNAs saved the costs of the by-election.

ECP demanded that funds should be provided under the revised budget for general elections otherwise Article 220 will be used for non-cooperation.

[embedpost slug=”pti-delegation-meets-ecp-to-inform-party-reservations”]

Read more

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

IATA Consultancy presents PIA Business Plan 2022-26

pia

KARACHI: The world’s premium aviation agency, IATA Consultancy, has submitted a comprehensive business plan for the Pakistan International Airlines (PIA) for 2022 to 2026 to the Minister of Finance and Minister of Aviation. The business plan preparation was commissioned by the Ministry of Finance last year consequent to the report by the former special assistant … Read more

Economic hooliganism at its peak

economic

Economic hooliganism is commonly perceived to have adverse effects on the country. Pakistan is not less than any other state, as here too, the ministers and their opponents always give statements substantiated with several research reports of their choice and official statistics. The latest figures released by the Ministry of Finance suggests the economic recovery … Read more

Saudi industry, finance ministries prepare mining fund rules

Saudi industry

RIYADH: The Saudi Ministry of Industry said work is under way with the Ministry of Finance to prepare regulations for a mining fund to support the objectives of the comprehensive strategy for the mining industries, Arab News reported. The main objective of establishing the fund is to find sustainable sources of funding to develop and support mining … Read more

Saudi 2022 inflation seen within a range of 1% to 2%

Saudi 2022 inflation

RIYADH: The annual rate of consumer inflation in Saudi Arabia has averaged 3.3 per cent in the year through November 2021, according to the data compiled by Arab News. However, several organisations expect it to be in the lower range of 1 per cent to 2 per cent next year. The 3.3 per cent rate is … Read more

Qatar hits budget surplus of $247 million

Qatar recorded a budget surplus of 900 million riyals ($247 million) for the third quarter of this year, Arab News quoted the data released by the country’s Ministry of Finance. The total revenue for the quarter grew by a yearly rate of 20.6 per cent to reach 47 billion riyals. Oil and gas revenue accounted for 87.7 … Read more

Govt increases petrol price by Rs8 per litre with immediate effect

petrol

ISLAMABAD: A day after Prime Minister Imran Khan had warned that prices of petroleum products would go up, the government on Thursday night increased petrol price by Rs8.03 to Rs145.82 per litre, an all-time high, with immediate effect. The ministry of finance made the announcement late last night through a notification, according to which the … Read more

Petrol prices are expected to rise in Pakistan once again

The price of petroleum products in the country is expected to rise once more, according to sources, with the Oil and Gas Regulatory Authority (OGRA) seeking an increase in the rates.Petrol once again The regulatory authority has sent a summary to the Petroleum Division, recommending a petrol price rise of Rs0.50 per litre, a diesel price increase of Rs2.50 per litre, and kerosene and light diesel oil price increase of Rs1 per litre.

After consulting with Prime Minister Imran Khan, the Ministry of Finance will make a final decision on changing the price of petroleum products, according to sources.

Two weeks ago, the government increased the price of fuel by Rs1.71 per liter, resulting in a current price of Rs119.80 a liter.

[embedpost slug=”ogra-proposes-rs1-71-litre-hike-in-petrol-prices”]

Read more

Increased remittances depict Overseas Pakistanis’ confidence: PM

Kamyab Pakistan Programme

ISLAMABAD: Prime Minister Imran Khan has described the Overseas Pakistanis as the country’s precious asset and said the increasing numbers of foreign remittances depicted their confidence in the government’s policies. Presiding over a review meeting for the ease of Overseas Pakistanis in sending remittances under the priority sectors and their further facilitation, the prime minister … Read more

Suggestions for revision of petrol prices from August 1

petrol prices

The Petroleum Division has received recommendations regarding changes in the prices of petroleum products. According to sources, the price of high-speed diesel has been reduced by Rs 2.27 per liter while the price of petrol has been proposed to increase by Rs 1.71 per liter. It is proposed to increase the price of kerosene by … Read more

Murabaha: UAE banks raise $350 million for Pakistan

Pakistan UAE

DUBAI: The Ajman Bank and the Commercial Bank of Dubai have raised $350 million (Dh1.28 billion) in Murabaha syndicated financing for the government of Pakistan, Khaleej Times reported on Wednesday. The two UAE banks acted as mandated lead arrangers and book-runners for the facility on behalf of Pakistan’s Ministry of Finance. The Shariah-compliant Ajman Bank also acted … Read more

Monthly Update Outlook Report on National Economy Released

Monthly Update Outlook Report on National Economy Released

ISLAMABAD: The Ministry of Finance has released a monthly updated outlook report on the country’s economy, which said that economic recovery and acceleration in activities are continuing. According to the report of the Ministry of Finance, industrial and agricultural production has improved while tax revenue and remittances have increased. In July-April, remittances increased by 29% … Read more

Pakistan’s fiscal deficit narrows to 4.2% in 10 months: finance ministry

sales tax

KARACHI: The fiscal deficit narrowed to 4.2 per cent of the GDP during 10 months (July-April) 2020/21 from the deficit of 5.3 per cent in the corresponding period of the last year, the Ministry of Finance said on Tuesday. According to a monthly update issued by the ministry, a significant growth in tax revenues and … Read more

PM Imran Khan gives weightage to energy sector: Tarin

PM Commends NCOC For Its Excellent Performance In Dealing With Pandemic

KARACHI: Prime Minister Imran Khan is making all-out efforts for sustainable economic growth and gave weightage to the energy sector for keeping the economic cycle moving with the ever-growing momentum, a government official said on Tuesday. Addressing a meeting, held at the Ministry of Finance, to review the progress on the draft Pakistan Oil Refining … Read more

Govt vows to bring prices of essential items down

essential items

KARACHI: The government has vowed to bring the prices of essential items down and expressed the hope that the need for continued subsidy will no longer be required, a spokesman for the Ministry of Finance said. Responding to the press conference by former finance minister Miftah Ismail, he said the foreign exchange reserves have witnessed … Read more

Higher Education Commission: Budget To Be Increased For Education Sector

Higher Education Commission: Budget To Be Increased For Education Sector

Higher Education Commission (HEC) conducted an initial assessment which showed that most of the universities in Pakistan are not well-equipped for online teaching platform. Out of a total of 205 universities, only 40 of them had well-established universities. Due to COVID-19 restrictions, universities have been using online education mode to protect their faculty members, students … Read more

Federal Govt. Notifies lowering sales tax on petroleum products

Budget 2021 petroleum price

The Federal government has on Wednesday (today) announced to lower sales tax on petroleum products.

According to a notification issued today, the sales tax on Kerosene oil was lowered to 10.07% against the previously charged tax of 15.44%. The sales tax on light diesel was lowered to 3.67% from 7.56%.

However, the notification mentioned that the sales tax would be charged at 17% on petrol, and high-speed diesel, and there would be no changes in it.

Petroleum products sales tax lowered

Prime Minister Imran Khan on May 31 turned down a proposal by the Oil and Gas Regulatory Authority (OGRA) for a rise in prices of petroleum products for the next 15 days.

The current price of petrol stands at Rs108.76 per litre, whereas the per-litre prices of diesel, kerosene oil, and light diesel are Rs110.76, Rs80, and Rs77.65.86, respectively.

Earlier, the Oil and Gas Regulatory Authority (OGRA) had increased the price of LPG.

According to the notification, the price of LPG has been increased by Rs 8.4 per kg.

According to the notification, LPG has increased the price of 11.8 kg domestic cylinder by Rs 94.89 paise, after which the new price of the domestic cylinder has gone up to Rs 1,667.29 paise. Whereas in May, the domestic price of LPG cylinder was Rs 1,572.40 paise. The price of the commercial cylinder is fixed at Rs 6,415.

The notification further said that the new LPG prices would be applicable for June 2021.

Read more