In a recent announcement, the Pakistani government has decided to disburse the salary and pension payments for government employees ahead of Eid-ul-Fitr this month.
ISLAMABAD: The government has scheduled the presentation of the budget for fiscal year 2022/2023 in the first week of June 2022, the finance ministry said on Thursday. The finance ministry issued budget call circular 2022/2023. According to the circular, after completion of all budget documents and summaries by end of May 2022, the budget will … Read more
ISLAMABAD: The finance ministry has estimated that the tax collection to reach Rs5.83 trillion during current fiscal year 2021/2022 (FY22). In its monthly economic update – August 2021, the finance ministry said that in FY2021, tax revenue increased by 18.4 percent, whereas in July FY2022, tax collection climbed up by 42.5 percent, indicating a good … Read more
KARACHI: Pakistan’s budget deficit for the fiscal year 2020/2021 has come down to 7.1 per cent of the GDP when compared with 8.1 per cent in the preceding fiscal year. However, the primary deficit during the period at Rs 654 billion (1.4 per cent of GDP in FY21) fares better compared to a primary deficit … Read more
ISLAMABAD: The finance ministry is hopeful of achieving annual fiscal targets as half year (July – December) 2020/2021 fiscal position indicates that it will remain on track in the remaining half. The ministry of finance on Monday issued Mid-year Budget Review Report for Fiscal Year 2020/2021. The finance division said that the fiscal consolidation measures … Read more
ISLAMABAD: The government has appointed M.s Nargis Sethi as chairperson of the pay and pension commission with immediate effect. A notification issued dated October 15, 2020 by the Finance Division stated that the Prime Minister had appointed Ms. Nargis Sethi, former federal secretary, as chairperson of the pay and pension commission with immediate effect. Abdul … Read more
ISLAMABAD: Tax to GDP ratio has slipped to 11.4 percent in fiscal year FY20 (2019/2020) when compared with 11.6 percent in the preceding fiscal year, according to statistics released by the finance ministry. The size of Gross Domestic Product (GDP) has been measured at Rs41,727 billion in fiscal year 2019/2020 as compared with Rs38,559 billion … Read more
ISLAMABAD: The government to propose suitable increase in salaries of government employees in the upcoming budget 2020/2021, said a statement issued by the Finance Division on Thursday. In response to the strike call by the Secretariat employees for raising their salaries the ministry of finance has held meetings with the federal government employees to assure … Read more
ISLAMABAD: The ministry of finance on Wednesday issued 10-year Cash Management & Treasury Single Account Policy with aim to bring every penny into government’s nominated agency. The policy has been issued with the objective of timely availability of cash to meet obligations, economizing on cash within the government so as to save interest costs and … Read more
ISLAMABAD: The government has planned to set up a Medium Term Note (MTN) Program for issuance of US Dollar denominated Eurobonds and Sukuk in the international capital markets. The program shall initially cover a period of one year, said ministry of finance on Friday. For the purpose, finance division plans to engaged two consortia, each … Read more