Jul 11

President Approves Ad hoc Relief Allowance for Govt Employees

Islamabad, July 11, 2024 – The President of Pakistan has sanctioned an Ad hoc Relief Allowance for government employees, effective from July 1, 2024. This initiative, announced by the Finance Division, will benefit federal government employees, including Armed Forces personnel, Civil Armed Forces, Civil Employees, and civilians paid from defense estimates, encompassing contingent paid staff […]

by Mrs. Anjum Shahnawaz

Aurangzeb Urges Inclusion of Retailers and Real Estate in Tax Net

Jun 28

Taxation, Top stories

Aurangzeb Urges Inclusion of Retailers and Real Estate in Tax Net

Islamabad, June 28, 2024 – Finance Minister Mohammad Aurangzeb emphasized the necessity of broadening Pakistan’s tax base by incorporating retailers and the real estate sector into the tax net.

by Mrs. Anjum Shahnawaz

Aurangzeb Reiterates Goal of Enhancing Tax-to-GDP Ratio to 13%

Jun 28

Finance

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.

by Shahnawaz Akhter

Jun 13

Budget 2024-25

Pakistan Budget 2024-25 At A Glance

Islamabad: The Federal Government of Pakistan unveiled its budget for the fiscal year 2024-25 on Wednesday, June 12, 2024, totaling an ambitious Rs 18.877 trillion.

by Shahnawaz Akhter

Pakistan Making Tough Economic Decisions for Better: Aurangzeb

May 12

Budget 2024-25, Finance, Top stories

Pakistan Making Tough Economic Decisions for Better: Aurangzeb

Pakistan is navigating a challenging economic landscape, implementing what they describe as “tough but necessary” decisions for the country’s long-term well-being.

by Mrs. Anjum Shahnawaz

Pakistan Urges World Bank for Expanding Development Portfolio

May 8

Finance

Pakistan Urges World Bank for Expanding Development Portfolio

Islamabad, May 8, 2024 – In a meeting held on Wednesday, Pakistan has made a strong appeal to the World Bank to broaden its development activities in the country by incorporating innovative financing mechanisms and boosting private sector engagement.

by Mrs. Anjum Shahnawaz

Pakistan’s Fiscal Deficit Swells 27% to Rs 3.9 Trillion in 9MFY24

May 2

Finance, Pakistan, Top stories

Pakistan’s Fiscal Deficit Swells 27% to Rs 3.9 Trillion in 9MFY24

Karachi, May 2, 2024 – Pakistan’s fiscal landscape has shown significant volatility, as the nation’s fiscal deficit expanded by 27% year-on-year (YoY), reaching Rs 3.9 trillion in the first nine months of the fiscal year 2023-24, data from the Ministry of Finance revealed.

by Shahnawaz Akhter

Pakistan Discusses Reforms with Global Rating Agencies

Apr 20

Finance, Pakistan, Top stories

Pakistan Discusses Reforms with Global Rating Agencies

In a crucial meeting held on Saturday, Finance Minister of Pakistan Muhammad Aurangzeb engaged with representatives from two of the world’s leading credit rating agencies, S&P Global and Fitch Ratings.

by Mrs. Anjum Shahnawaz

Former HBL CEO Assumes Role as Pakistan’s Finance Minister

Mar 12

Pakistan, Top stories

Former HBL CEO Assumes Role as Pakistan’s Finance Minister

Islamabad, March 12, 2024: Muhammad Aurangzeb, the former Chief Executive Officer (CEO) of Habib Bank Limited (HBL), has officially assumed the role of Pakistan’s Finance Minister.

by Mrs. Anjum Shahnawaz

Pakistan’s GDP Growth Turns Positive after Two Straight Negatives

Feb 29

Finance, Pakistan, Top stories

Pakistan’s GDP Growth Turns Positive after Two Straight Negatives

Islamabad, February 29, 2024 – Pakistan’s Gross Domestic Product (GDP) has bounced back into positive territory, registering a growth of 2.1% in the first quarter of the fiscal year 2023-24, according to a report released by the Ministry of Finance on Thursday.

by Mrs. Anjum Shahnawaz