Says ongoing reforms focused on bringing retailers into the tax net and strengthening the revenue system Finance Minister Muhammad Aurangzeb presents Budget 2026-27 in the National Assembly on Friday. — SCREENGRAB ISLAMABAD: Finance Minister Muhammad Aurangzeb on Saturday said that Pakistan’s macroeconomic indicators remained stable and the government was focused on expanding the tax base…
KARACHI: Businessmen Panel Progressive (BMPP) General Secretary Khurram Ijaz has warned that debt servicing is swallowing more than half of Pakistan’s tax revenue, urging policymakers to rethink borrowing-led strategies and strengthen indigenous economic capacity. Citing budget documents, he noted that the government has earmarked Rs8.054 trillion for mark-up payments in FY2026-27, including Rs6.96 trillion on…
FPCCI president says cheaper fuel will boost exports, urges electricity tariff reduction ISLAMABAD: Pakistan’s trader and industrial community has strongly welcomed the announcement of a Rs74 per litre reduction in petrol prices and Rs67 per litre cut in high-speed diesel, calling it a highly positive decision for the economy. They said the move will benefit…
Signals stubborn domestic price pressures driven by tomatoes, onions, wheat flour KARACHI: Pakistan’s short-term inflation remained elevated at 15.28% year-on-year for the week ended June 18, 2026, indicating that domestic price pressures continue to persist despite a recent easing in global oil market concerns following the US-Iran peace agreement. The government has reduced petroleum product…
Lawmakers also seek review of tax exemptions benefiting politically connected entities Research conducted by Australia’s tax authorities revealed that the first communication a new taxpayer receives affects their long-run compliance behaviour. photo: file ISLAMABAD: The National Assembly Standing Committee on Finance on Friday rejected a proposal to share taxpayers’ personal information with banks and also…
CDWP approves Rs16.9b schemes, power sector modernisation, urban land systems among key initiatives ISLAMABAD: The Central Development Working Party (CDWP) has recommended six major development projects with a cumulative cost of Rs418.761 billion to the Executive Committee of the National Economic Council (ECNEC) for further consideration, while approving six schemes worth Rs16.904 billion. The meeting,…
Iran renewed attacks on the United Arab Emirates on Tuesday, causing oil loading at the port of Fujairah to be at least partly halted after the third attack in four days. FILE IMAGE: PIXABAY Oil prices fell on Friday as prospects brightened for more supply after oil tankers began moving through the reopened Strait of…
Experts warn 15% compression without energy, credit, logistics reforms may backfire LAHORE: Local industry has asked policymakers to design a targeted, disciplined, performance-based and time-bound industrial policy. Policymakers are currently pushing for a maximum 15% tariff cap, which is based entirely on a trade simulation model despite the fact that this model has not undergone…
Committee gives govt option to either withdraw concessions or extend to all airlines “This is serious injustice to the existing as well as the new airlines that may start operations in Pakistan,” said MNA Sharmila Faruqi. photo:AFP ISLAMABAD: The National Assembly standing committee on finance Thursday deferred approval of sweeping tax exemptions for Pakistan International…
A stock broker reacts while monitoring the market on the electronic board displaying share prices during trading session at the Pakistan Stock Exchange, in Karachi on July 3, 2023. Photo: Reuters/ File KARACHI: The Pakistan Stock Exchange (PSX) witnessed a sharp reversal in the midday trading session on Friday, with the benchmark KSE-100 Index plunging…