FBR has granted additional charge of key positions to 27 senior officers of the Inland Revenue Service ISLAMABAD: The Federal Board of Revenue (FBR) has decided to introduce major administrative changes in order to meet tax collection targets and improve the efficiency of the country’s revenue system. As part of these measures, the tax authority…
Agriculture, retail and real estate stay undertaxed while the salaried class and corporate sector carry the load KARACHI: We often hear about the challenges Pakistan faces when it enters an International Monetary Fund (IMF) programme, yet we seldom spend enough time reflecting on our own structural shortcomings. It is always easier to criticise an external…
A Palestinian man holding the body of a child wrapped in a white sheet. PHOTO: ANADOLU AGENCY A meticulous investigative report by the Dutch newspaper De Volkskrant documenting what journalists describe as the deliberate targeting of children in Gaza has been awarded the European Press Prize 2026, one of the continent’s most prestigious journalism honours….
People save only Rs6 out of every Rs100 earned; PIDE urges national savings drive ISLAMABAD: Pakistan’s savings rate has fallen to its lowest level in three decades, with citizens now saving only Rs6 out of every Rs100 they earn, according to a new report by the Pakistan Institute of Development Economics (PIDE). The report warns…
Pakistan should not depend on foreign institutions for assessment of its budget. An Independent Fiscal Council with statutory authority will provide parliament with its own expert voice, independent of the executive’s fiscal claims. photo: file ISLAMABAD: Pakistan’s fiscal strategy and productivity landscape have been marred by years of perpetual firefighting. Beyond the International Monetary Fund’s…
An Israeli airstrike targeted a petrochemical firm in Mahshahr, Iran on Monday, causing partial damage to the industrial complex, according to Iranian officials. According to the Mehr News Agency, Valiollah Hayati, deputy governor for security affairs in Khuzestan province, told reporters: “A few minutes ago, the Karun Mahshahr Petrochemical Company was attacked by the Zionist…
Party preparing to expand its organisational and electoral footprint in Punjab provincial capital LAHORE: Pakistan Peoples Party (PPP) Lahore President Faisal Mir on Sunday announced that the party would hold a major public rally at Minar-e-Pakistan on July 25 to mark the birthday of President Asif Ali Zardari, while also unveiling plans to contest upcoming…
Globally competitive industry cannot be developed behind walls, without assuming additional risk If Pakistan wants to build globally competitive cars and export them, it must lower its protectionist walls, access lower cost parts, and frictionlessly integrate into GVCs. photo: file ISLAMABAD: In the 1990s, two new auto assemblers in Pakistan, Toyota and Honda, joined Suzuki,…
. PESHAWAR: In a significant step aimed at improving travel facilities for passengers, Pakistan Railways has launched the second upgraded rake of the Awam Express service from Peshawar to Karachi. The train was formally flagged off by Divisional Superintendent (DS) Peshawar, Imran Hayat, along with divisional railway officials on Sunday. Passengers traveling on the Awam…
. Budgets in Pakistan have for years been read as ledgers of disappointment. The numbers came out, the cynics added them up, and the verdict was usually returned before the Finance Minister had finished his speech. The Federal Budget 2026-27, scheduled for approval by 1st July, deserves a different kind of reading. It is not…