Category: Finance

Explore finance-related stories with Pakistan Revenue, your source for the latest updates on Pakistan’s economy, financial trends, and market insights. Stay informed with real-time economic developments.

Pakistan President Approves Tax-Heavy 2024-25 Budget

Islamabad, June 30, 2024 – Pakistan President Asif Ali Zardari on Sunday approved the heavily tax-laden Budget 2024-25, set to come into effect from July 1. The budget, amounting to Rs18.877 trillion, aims to stabilize the economy and secure a new bailout from the International Monetary Fund (IMF).
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June 30, 2024
Aurangzeb Confident of Securing Major IMF Bailout

Finance Minister Muhammad Aurangzeb expressed optimism on Sunday about Pakistan’s prospects of securing a new bailout from the International Monetary Fund (IMF). This comes after President Asif Ali Zardari approved a tax-intensive budget for the upcoming fiscal year starting July 1.
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June 30, 2024
Aurangzeb Reiterates Goal of Enhancing Tax-to-GDP Ratio to 13%

Islamabad, June 28, 2024 – Federal Finance Minister Muhammad Aurangzeb reaffirmed the government’s commitment on Friday to increase Pakistan’s tax-to-Gross Domestic Product (GDP) ratio to 13%, emphasizing the need for robust economic reforms to achieve sustainable growth.
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June 28, 2024
Pakistan Records $208 Million Fall in Weekly Forex Reserves

Karachi, June 27, 2024 – Pakistan has recorded a fall of $208 million in foreign exchange reserves for the week ending June 21, 2024, according to the State Bank of Pakistan (SBP).
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June 27, 2024
IMF Hails Pakistan for Tough Measures in 2024-25 Budget

ISLAMABAD, June 22, 2024 – The International Monetary Fund (IMF) has commended Pakistan for its stringent economic decisions embedded in the 2024-25 budget.
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June 23, 2024
Current Account Deficit Narrows to $464 Million in 11MFY24

Karachi, June 21, 2024 – The State Bank of Pakistan (SBP) announced on Friday that the country’s current account deficit has narrowed significantly to $464 million during the first 11 months (July – May) of fiscal year 2023-24. This marks a substantial improvement compared to the $3.76 billion deficit recorded in the same period of the previous year.
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June 21, 2024
Pakistan Witnesses $31 Million Rise in Weekly Forex Reserves

Karachi, June 20, 2024 – Pakistan’s foreign exchange reserves saw a noteworthy increase of $31 million during the past week, according to a statement released by the State Bank of Pakistan (SBP) on Thursday.
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June 20, 2024
Aurangzeb Outlines Revenue Boost and Expenditure Cut Measures

Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, outlined a two-pronged strategy to bolster the national economy during a press conference today. The plan emphasizes increased revenue generation alongside significant expenditure reductions to achieve sustainable economic growth.
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June 18, 2024
Economy Unsustainable at Single-Digit Tax Ratio: Aurangzeb

Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, reiterated the pressing need for digitization and broadening the tax base, emphasizing that a tax to GDP ratio below 10 percent is unsustainable for managing Pakistan’s economy.
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June 13, 2024
Pakistan Sees $168 Million Rise in Foreign Exchange Reserves

Karachi, June 13, 2024 – Pakistan has witnessed increase in foreign exchange reserves by a notable $168 million in the week ending June 7, 2024, according to a statement released by the State Bank of Pakistan (SBP) on Thursday.
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June 13, 2024