Pakistan spends $1 billion for vaccines in first quarter

Oct 21

Finance

Pakistan spends $1 billion for vaccines in first quarter

ISLAMABAD: Pakistan has spent an amount of $400 million on import of COVID-19 vaccines during the month of September 2021 and overall $1 billion during first quarter (July – September) of fiscal year 2021/2022, said a statement issued by the ministry of finance on Wednesday. As per State Bank of Pakistan, the current account deficit […]

by Mrs. Anjum Shahnawaz

No deadlock in Pakistan, IMF talks: spokesman

Oct 18

Finance

No deadlock in Pakistan, IMF talks: spokesman

ISLAMABAD: The ministry of finance on Sunday rejected a news story regarding failure of talks between Pakistan and the International Monetary Fund (IMF), said there was not any deadlock with the IMF. Finance ministry spokesman Muzammil Aslam, in a statement, said that there was not truth in news about the deadlock, adding that the talks […]

by Mrs. Anjum Shahnawaz

Sep 6

Finance

Finance ministry reviews trade balance situation

ISLAMABAD: Federal Finance Minister Shaukat Tarin presided over a meeting on Monday to review the trade balance situation. Federal Minister for Economic Affairs Division Omar Ayub Khan, Secretary Commerce, Secretary M/o Information Technology, Secretary Finance Division, Governor State Bank of Pakistan Dr. Reza Baqir, Executive Director General BOI, and other senior officers participated in the […]

by Mrs. Anjum Shahnawaz

Pakistan debt-to-GDP ratio rises 1.7% during COVID-19

Sep 2

Finance

Pakistan debt-to-GDP ratio rises 1.7% during COVID-19

ISLAMABAD: The ministry of finance on Thursday said that Pakistan’s debt-to-GDP ratio has increased by 1.7 per cent during the pandemic as against an increase in global average of 13 per cent. Responding to some media reports regarding the increase in public debt during the last three years, the statement said that a better way […]

by Faisal Shahnawaz

Ban on vehicle purchase under austerity measures

Jul 25

Finance

Ban on vehicle purchase under austerity measures

ISLAMABAD: The federal government has imposed a ban on purchase of motor vehicles for official use. The government imposed the ban under austerity measures. The finance division in a circular said that financial constraints forced to take the step. The government has taken austerity measures for fiscal year 2021/2022: (i) There shall be complete ban […]

by Mrs. Anjum Shahnawaz

Amount of diyat (compensation) for 2021/2022 announced

Jul 17

Finance

Amount of diyat (compensation) for 2021/2022 announced

ISLAMABAD: The federal government announced amount of diyat at Rs4.26 million for the fiscal year 2021/2022. The amount should be value of 30,630 grams of silver. The finance ministry issued a circular to declare the amount of diyat. Diyat is the financial compensation paid to the victim or heirs of a victim. The compensation may […]

by Mrs. Anjum Shahnawaz

Grant of 10% increase in pension notified

Jul 8

Finance

Grant of 10% increase in pension notified

ISLAMABAD: The federal government on Thursday notified the grant of 10 per cent increase in pension of all government pensioners with effect from July 01, 2021. The finance ministry said that the President has sanctioned an increase at 10 per cent of net pension with effect from July 01, 2021 until further orders to all […]

by Mrs. Anjum Shahnawaz

Notification for 10% ad hoc increase in salary issued

Jul 8

Finance

Notification for 10% ad hoc increase in salary issued

ISLAMABAD: The President of Pakistan has sanctioned the grant of ad hoc 10 per cent increase in salary of government employees effective from July 01, 2021, according to a notification issued by the ministry of finance on Thursday. It said that the president has been pleased to sanction with effect from July 01, 2021 and […]

by Mrs. Anjum Shahnawaz

Finance ministry, IMF meeting to finalize budget proposals

May 27

Budget 2021-2022, Finance

Finance ministry, IMF meeting to finalize budget proposals

ISLAMABAD: An important meeting of the ministry of finance with representatives of International Monetary Fund (IMF) will be held today evening (Thursday evening) to finalize the recommendations for budget 2021/2022. Senior officials of the ministry of finance, three representatives, including country head, of IMF and senior officials of Federal Board of Revenue (FBR) will attend […]

by Mrs. Anjum Shahnawaz

Motor vehicle tax collection grows by 22.7pc; finance ministry issues nine-month statistics

May 16

Automotive, Taxation

Motor vehicle tax collection grows by 22.7pc; finance ministry issues nine-month statistics

ISLAMABAD: The collection of motor vehicle tax has been increased by 22.7 percent owing to better economic conditions during the current fiscal year as compared with unfavorable conditions in the last fiscal year due to corona pandemic. According to statistics released by the ministry of finance for the period July – March 2020/2021, the collection […]

by Mrs. Anjum Shahnawaz