Islamabad, November 13, 2024 – The Federal Board of Revenue (FBR) is contemplating a strategic reversal of the sales tax exemption on petroleum products, potentially introducing a modest 5-7% tax to stabilize fiscal revenues amid a challenging economic landscape.
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Pakistan’s Total Debt, Liabilities Rise to Rs 85.84 Trillion in 1QFY25
Karachi, November 11, 2024 – Pakistan’s fiscal challenges intensified as total debt and liabilities surged to Rs 85.84 trillion by the end of the first quarter of FY2024-25, the State Bank of Pakistan (SBP) reported Monday.
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Pakistan Assures Full Support for Maersk $2 Billion Investment
Islamabad, November 11, 2024 – The Ministry of Maritime Affairs has assured Maersk officials of its full support in facilitating the company’s operations and addressing any challenges that may arise, as Pakistan prepares for a landmark $2 billion investment from the Danish shipping giant.
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Pakistan Launches Nationwide Polio Vaccination from Oct 28
Islamabad, October 27, 2024 – In a renewed drive against polio, Pakistan will launch a nationwide polio vaccination campaign starting Monday, October 28, 2024, with the aim of protecting over 45 million children under the age of five.
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OGDCL Begins Oil and Gas Production from Sanghar District
Islamabad, October 24, 2024 – Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production (E&P) firm, has successfully commenced oil and gas production from its exploratory well Baloch-2, situated in the Sanghar district of Sindh.
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Justice Yahya Afridi Nominated as New Chief Justice of Pakistan
ISLAMABAD: In a significant development, the Special Parliamentary Committee has officially nominated Justice Yahya Afridi as the new Chief Justice of Pakistan (CJP), succeeding the outgoing CJP, Justice Qazi Faez Isa, who is set to retire on October 25. Justice Afridi’s nomination comes after extensive deliberations within the parliamentary panel, formed to select the next CJP from among the three most senior judges of the Supreme Court.
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SBP Projects GDP Growth at 3.5% for FY25, Slightly Below Target
Karachi, October 17, 2024 – The State Bank of Pakistan (SBP) has projected the country’s gross domestic product (GDP) growth at 3.5% for the fiscal year 2024-25, just shy of the government’s target of 3.6%.
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Pakistan Sets Diyat at Rs 8.10 Million for Fiscal Year 2024-25
Islamabad, October 3, 2024 – The Government of Pakistan has officially announced the amount of diyat (compensation) for the fiscal year 2024-25, setting it at Rs 8.10 million. This figure, equivalent to the value of 30,630 grams of silver, was confirmed by the Ministry of Finance through a circular issued on October 2, 2024.
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Pakistan Achieves Over 14% Export Growth in First Quarter of FY25
Islamabad, October 2, 2024 – Pakistan has reported an impressive 14.11% growth in exports during the first quarter of the fiscal year 2024-25 (1QFY25), a significant indicator of the country’s economic resilience. According to data released by the Pakistan Bureau of Statistics (PBS), exports soared to $7.88 billion between July and September 2024, compared to $6.90 billion in the same period last fiscal year.
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Prime Minister Shehbaz Hails Record Low Inflation in 44 Months
Islamabad, October 1, 2024 – Prime Minister Muhammad Shehbaz Sharif on Tuesday expressed satisfaction over the sharp decline in inflation, which has now fallen to its lowest level in the past 44 months. The inflation rate, recorded at 6.9 percent year-on-year in September 2024, marks a significant milestone in the government’s efforts to ease the financial burden on the masses.
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