Pakistan
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NA passes tax-heavy budget as Pakistan looks to secure new IMF deal
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[ad_1] Finance Minister Muhammad Aurangzeb addressing on the floor of the National Assembly, on June 28, 2023. — Facebook/@NationalAssemblyOfPakistan ISLAMABAD: The National Assembly on Friday passed the tax-heavy Finance Bill 2024 as the government seeks to secure the new International Monetary Fund (IMF) bailout package by fulfilling its requirements. The budget, for the fiscal year…
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JVs get govt’s go-ahead to move Chinese industries to Pakistan
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[ad_1] Prime Minister Muhammad Shehbaz Sharif chairs a meeting on matters related to the Board of Investment, in Islamabad on Wednesday, June 26, 2024.— APP Prime Minister Shehbaz Sharif on Wednesday gave the go-ahead to joint ventures (JVs) between the two nations to relocate Chinese industries to Pakistan, in a bid to reinvigorate the China-Pakistan…
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Pakistan budget to significantly reduce government debt, rating agency Fitch predicts | The Express Tribune
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[ad_1] Fitch forecasts Pakistan’s FY25 budget to significantly reduce government debt, which is projected to decline to 68% of GDP by the end of FY24. This reduction is attributed to high inflation and deflator effects, which help offset soaring domestic interest costs. Fitch Ratings forecasts a concurrent decline in both inflation and interest costs, driven…
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Pakistan hopeful of reaching staff-level agreement with IMF in July: Aurangzeb
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[ad_1] Finance Minister Muhammad Aurangzeb addresses post-budget press conference in Islamabad on June 13, 2024. — Screengrab/GeoNews ISLAMABAD: Finance Minister Muhammad Aurangzeb said Thursday the federal government was hopeful of reaching a staff-level agreement with the International Monetary Fund (IMF) in July after the budget was presented in line with the lender’s requirements. The budget,…
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Budget FY25: Pakistan sets challenging Rs13tr tax revenue target to woo IMF
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[ad_1] Finance Minister Muhammad Aurangzeb is presenting budget 2024-25 in the National Assembly on June 12, 2024. — APP ISLAMABAD: Preferring long-term economic sustainability over giving a short-run break to inflation-hit and income-strapped masses, Pakistan has decided to chase an overambitious tax revenue target of Rs13 trillion for the fiscal year 2024-25, to strengthen the…
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Pakistan unlikely to purchase spot LNG in summer despite extreme heat
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[ad_1] An image of a liquified natural gas (LNG) cargo carrier in the ocean. — Reuters/File Pakistan is unlikely to buy liquefied natural gas (LNG) cargoes on the spot market until at least the beginning of winter in November due to oversupply and high prices, petroleum minister Musadik Masood Malik told Reuters. Extreme temperatures across…
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Experts share two cents on Pakistan Economic Survey 2023-24
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[ad_1] A vegetable vendor (L) attends to a customer at a market in Islamabad on June 3, 2024. — AFP Pakistan’s gross domestic product (GDP) witnessed a growth of 2.38% in the outgoing fiscal year unexpectedly as it was estimated to increase by 2%, said Finance Minister Muhammad Aurangzeb on Tuesday. While unveiling the Pakistan Economic Survey…
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Pakistan economic survey 2023-24 to be unveiled today
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[ad_1] Representational image of people buy pulses and grains at a wholesale market. — AFP/File The Economic Survey of Pakistan 2023-24, a pre-budget document containing the details of major socio-economic achievements during the outgoing fiscal year, is set to be launched today (Tuesday). Finance Minister Muhammad Aurangzeb will present the survey in the National Assembly…
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Pakistan Stock Exchange witnesses bearish trend, loses 501 points | The Express Tribune
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[ad_1] ISLAMABAD: The 100-index of the Pakistan Stock Exchange (PSX) saw a bearish trend on Monday, losing 501.46 points, or 0.68%, to close at 73,252.56 points, down from 73,754.02 points the previous day. A total of 350.7 million shares valued at Rs10.18 billion were traded during the day, compared to 559.6 million shares valued at…
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Pakistan breaks records with $3.24b remittances | The Express Tribune
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[ad_1] KARACHI: In a historic development, Pakistan hit an all-time high inflow of workers’ remittances sent home by non-residents at $3.24 billion in May 2024 on Friday. This surge suggests that the balance of the current account would remain in surplus for the fourth month in a row. According to State Bank of Pakistan’s (SBP)…
