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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Pakistan May Reduce Petroleum Prices from October 1, 2024
Islamabad, September 28, 2024 – Pakistan is expected to announce a reduction in petroleum prices starting October 1, 2024, in response to declining international oil prices. However, the reduction may not extend to petrol, which is likely to remain at its current price levels, according to government sources.
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IMF Board Approves $7 Billion EFF for Pakistan
In a significant economic development, the International Monetary Fund (IMF) Executive Board has approved a $7 billion Extended Fund Facility (EFF) for Pakistan. The Prime Minister’s Office (PMO) announced this on Wednesday, marking a crucial moment for the country’s struggling economy.
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Pakistan and Turkiye Agree to Strengthen Economic and Security Cooperation
New York, September 25, 2024 – Prime Minister of Pakistan Shehbaz Sharif and Turkish President Recep Tayyip Erdogan met on Wednesday on the sidelines of the 79th Session of the United Nations General Assembly. During the meeting, the two leaders reaffirmed their commitment to enhancing bilateral relations by strengthening cooperation in the areas of trade, investment, defense, and security.
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Live Bidding for PIAC Privatization to Be Broadcast on October 1, 2024
ISLAMABAD, September 25, 2024 — The much-anticipated bidding process for the privatization of Pakistan International Airlines Company (PIAC) will be shown live on media on October 1, 2024, following approval by the federal cabinet.
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Aurangzeb Confident of IMF Loan Approval at September 25 Meeting
Islamabad, September 24, 2024 – Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, expressed confidence on Tuesday that the International Monetary Fund (IMF) will approve a 37-month, $7 billion Extended Fund Facility (EFF) for Pakistan during its board meeting on September 25, 2024. His optimism comes as Pakistan seeks much-needed financial assistance to stabilize its economy and ensure sustained reforms.
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PM Shehbaz Approves Bold FBR Crackdown on Wealthy Tax Evaders
Karachi, September 21, 2024 – Prime Minister Shehbaz Sharif has given the green light to the Federal Board of Revenue (FBR) to aggressively target Pakistan’s wealthiest citizens under a transformation plan aimed at addressing tax evasion and increasing revenue collection.
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IMF Loan Hope: Aurangzeb Foresees Good News for Pakistan
Islamabad, September 20, 2024 – Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, announced on Friday that Pakistan is expected to receive favorable news from the International Monetary Fund (IMF) on September 25, 2024.
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