ISLAMABAD: “We are constrained to observe that the income tax authorities unnecessarily wasted time, money, and effort which could have been better utilised for more productive causes. They discarded the clear determinations by three forums and the EFU case precedent. Such disdain and persistence without cause do not engender confidence in taxpayers nor help establish…
Secures $1.7b AIIB portfolio, JICA lending resumption as Pakistan eyes rating upgrade Finance Minister Muhammad Aurangzeb in an interview at the World Bank Spring Meetings 2026 with China Global Television Network’s program “The Heat”. PHOTO: SCREENGRAB WASHINGTON: Finance Minister Muhammad Aurangzeb concluded a productive final day of engagements at the International Monetary Fund (IMF) and…
The commerce minister directed industry stakeholders to submit comprehensive proposals for a long-term automotive policy aligned with national industrial goals. Photo: file KARACHI: Pakistan’s auto sector has welcomed a major policy shift aimed at revitalising local manufacturing, as the government moves to phase out used car imports under the baggage scheme, previously responsible for tens…
State Bank of Pakistan. Photo: File WASHINGTON: State Bank of Pakistan (SBP) Governor Jameel Ahmad has said that Pakistan’s key macroeconomic indicators have improved faster than anticipated at the beginning of the fiscal year, according to a statement by the central bank on Saturday. While noting that the ongoing conflict in the Middle East has…
ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Saturday announced that construction work has begun on an environmentally efficient floating jetty at the Korangi Fisheries Harbour at a cost of Rs120 million to facilitate the offloading of export-quality fish catch. The minister was chairing a meeting of the Korangi Fisheries Harbour Authority…
The meeting concluded with a mutual resolve to continue close collaboration between the Ministry of Petroleum and OGDC to overcome challenges and capitalise on opportunities within the energy sector. PHOTO: FILE ISLAMABAD: Pakistan’s petroleum regulator has directed an oil and gas exploration company to clarify what it says is the misuse of confidential documents amid…
Delegation briefs Kamal on Capitol Hill meetings, US interest in steel, pharma, tech sectors ISLAMABAD: Rawalpindi Chamber of Commerce and Industry (RCCI) President Usman Shaukat and Senior Vice President Khalid Farooq Kazi called on Federal Minister for Commerce Jam Kamal Khan to brief him on their recent visit to the United States, according to a…
Discount rollback, advance buying in Dec 2025 triggered 24-quarter low of 1.04m tonnes KARACHI: Pakistan’s urea sales dropped sharply to a six-year low in the first quarter of calendar year 2026 (1QCY26), reflecting a significant slowdown after aggressive discount-led buying in the previous quarter, analysts and industry data show. “Urea sales have dropped to a…
State minister says changes will be in line with global trends, levies being rationalised Kerosene oil. KARACHI: Minister of State for Finance Bilal Azhar Kayani has said that petroleum prices are being reviewed on a regular basis, with any adjustments being aligned with global market trends. He noted that petroleum levies were being rationalised and…
Pakistan repaid $2bn UAE debt via Saudi loan, totalling $2.5bn returned to Abu Dhabi this week The finance ministry officials said that Pakistan would pay the remaining $1 billion UAE debt on coming Thursday. PHOTO: PIXABAY ISLAMABAD: Pakistan on Saturday repaid a $2 billion debt to the United Arab Emirates after seven years, further reducing its dependence on…