Rising coronavirus cases may impact revenue collection in second quarter

ISLAMABAD: The ministry of finance has said that the rising cases of coronavirus may slowdown economic activities and adversely impact revenue collection in second quarter (October – December) of the current fiscal... Read more »

Budget deficit swells to 1.1 percent in first quarter

ISLAMABAD: The budget deficit has ballooned to 1.1 percent of the GDP for the first quarter (July – September) 2020/2021 as compared with the deficit of 0.7 percent in the corresponding quarter... Read more »

Govt. slashes prices of petrol, HSD

ISLAMABAD: The government on Saturday announced reduction in prices of petrol and High Speed Diesel (HSD) effective from November 01, 2020. In a notification issued by the ministry of finance said that... Read more »

Inflation is one of main challenges: finance ministry

ISLAMABAD: The ministry of finance has said that economic growth is showing persistent recovery but the inflation is one of the main challenges. According to monthly economic update issued on Tuesday, the... Read more »

Mark-up rate for general provident fund announced

ISLAMABAD: The ministry of finance on Tuesday announced 12 percent mark-up rate on State Provident Fund i.e. General Provident Fund (GP Fund) for fiscal year 2019/2020. The mark-up rate has been reduced... Read more »

Pakistan’s fiscal deficit narrows to 8.1 percent in FY20

KARACHI: Pakistan’s budget deficit narrowed to 8.1 percent in FY20 (2019/2020) as compared with the deficit of 8.9 percent in the preceding fiscal year, according to statistics released by the ministry of... Read more »

Date extended to exchange Rs40,000 bearer prize bonds

ISLAMABAD: The ministry of finance on Thursday extended the last date to exchange bearer prize bonds of Rs40,000 denomination up to December 30, 2020. The last date to exchange the bearer prize... Read more »

Motor vehicle tax collection plummets by 15 percent to Rs16.73 billion

ISLAMABAD: The collection of motor vehicle tax has registered 15 percent decline during first nine months of current fiscal year, according to data released by the ministry of finance. According to fiscal... Read more »

Coronavirus may deeply distort economic fabric of Pakistan: Hafeez Shaikh

ISLAMABAD: Coronavirus led impacts are expected to deeply distort economic fabric of Pakistan, said Dr. Abdul Hafeez Shaikh, Advisor to the Prime Minister on Finance and Revenue. He called for demonstration of... Read more »