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PM Shehbaz calls reforms vital to stabilising global economy
Mon, 02 Jun 2025 18:57:00 +05:00

PM Shehbaz Sharif chairs a meeting in this screengrab taken from a video. — Radio PakistanFBR reform progressing rapidly, says Shehbaz.Third-party validation ordered for FBR changes.Faceless Customs System yielding positive results.

Prime Minister Shehbaz...

Budget FY26: Rs1tn planned for PSDP as govt trims ministries' ambitious demands
Mon, 02 Jun 2025 18:20:00 +05:00

Labourers work at a construction site in Peshawar. — AFP/File

Ministry of Climate Change set to receive Rs2.78bn in budget plan.Board of Investment earmarked Rs1.10bn for next fiscal year.Commerce Division proposed an allocation of Rs400m.

The federal...

More than 118 projects scrapped due to limited resources, says Ahsan Iqbal
Mon, 02 Jun 2025 17:55:00 +05:00

Minister for Planning and Development Ahsan Iqbal. — Reuters/File

Only key projects to be prioritised due to limited funds, says Iqbal. Exports target for next fiscal year set at $35bn, says minister. Says Rs150bn allocated for social sector in next...

Nearly half of development funds remain unused with days left in budget
Mon, 02 Jun 2025 13:34:00 +05:00

An underconstruction development project. — Reuters/File

SDGs fund for treasury lawmakers sees 71% spending, hits Rs35bn.Revised PSDP shrinks to Rs1.096tr amid sluggish utilisation.Govt plans Rs1tr PSDP allocation against demand of...

Income from bank deposits may face 2% tax rise
Mon, 02 Jun 2025 12:04:00 +05:00

A representational image shows a tax written on a calculator. — AFP/File

Filers, non-filers both face higher deposit tax.Proposal part of IMF-backed revenue plan.Budget targets passive earners to offset relief.

ISLAMABAD: To offset potential revenue losses from...

Govt working on crypto framework aligned with FATF policies, says PM's aide
Sun, 01 Jun 2025 23:38:00 +05:00

Special Assistant to the PM on Blockchain and Crypto Bilal Bin Saqib. — Reuters

"Not regulating crypto poses a major risk," warns SAPM.Global rate of crypto usage for illicit activities is 0.024%: Saqib.PM's aide clarifies govt won't spend money to buy...

In meeting with PM Shehbaz, President Zardari urges relief for common man in budget
Sun, 01 Jun 2025 21:43:00 +05:00

Prime Minister Muhammad Shehbaz Sharif meets President Asif Ali Zardari at Governor’s House Lahore on June 1, 2025 to discuss the prevailing political and security situation of the country. — APP

In a meeting with Prime Minister Shehbaz Sharif, President Asif Ali...

Public confidence rising as economic stability improves: Aurangzeb
Sun, 01 Jun 2025 16:22:00 +05:00

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb addressing media persons at PTV Headquarters.— APP/File

42% Pakistanis optimistic about economic direction.Inflation control, reforms driving consumer confidence.Job security hits highest level since...

Budget 2025-26: Pakistan's tough balancing act between reforms and revenue
Sun, 01 Jun 2025 14:23:00 +05:00

The federal budget for the fiscal year 2025–26 is shaping up to be a reform-heavy, IMF-guided document aimed at stabilising the economy while striking a delicate balance between fiscal consolidation and targeted relief.

The budget will be presented by Finance Minister Muhammad...

IMF, Pakistan 'near deal' on salaried tax relief in upcoming budget
Sun, 01 Jun 2025 13:09:00 +05:00

The International Monetary Fund logo is seen inside its headquarters in Washington, US, October 9, 2016. — Reuters

Rs56–60 billion relief expected in fiscal year 2025–26.New tax slabs include 1% on the lowest income tier.FBR faces uphill task to hit Rs14.2...

Petrol price hiked by Re1 per litre for next fortnight
Sat, 31 May 2025 23:35:00 +05:00

Employees at a fuel station wait for customers in Islamabad. — AFP/FileDecision based on recommendations of Ogra, ministriesPreviously, govt kept petroleum prices unchanged.World oil markets retreat on Opec+ speculations.

The federal government has increased the petrol...

India reports ₹360.14bn bank frauds in FY25, shows 194% surge: report
Sat, 31 May 2025 11:22:00 +05:00

A Reserve Bank of India logo is seen inside its headquarters in Mumbai, India, April 6, 2023. — ReutersLoan frauds reached ₹331.48 billion this year.Public sector banks reported 6,935 fraud cases.Card and online frauds totalled ₹5.20 billion.

MUMBAI: Bank...

Govt estimates inflation to rise to 7.5% in FY26
Sat, 31 May 2025 10:49:00 +05:00

Labourers unload sacks of onion from a truck to supply at a market in Karachi, February 1, 2023. — eutersPlanning ministry cautions external sector to come under strain.Debt repayments to widen current account deficit in next budget.Inflation expected to persist in next fiscal year...

Weekly inflation down 0.81% as prices of essential items remain mostly stable
Sat, 31 May 2025 09:18:00 +05:00

A shopkeeper speaks with a customer while selling spices at a market in Karachi, June 11, 2024. — ReutersPrices of 27 items remained unchanged this week.Tomatoes, potatoes, eggs among top weekly gainers.Electricity, chicken, LPG prices saw sharp drop.

ISLAMABAD: Weekly...

Pakistan officials headed to US for trade talks, says Trump
Sat, 31 May 2025 07:17:16 +05:00

US President Donald Trump. — ReutersTrump says US won't trade if Pakistan, India fight with each other.Pakistan last month decided to send delegation to US.Pakistan, US began formal talks via telephone call on May 30.

WASHINGTON: US President Donald Trump said that...

'Mitigating risk': SBP denies declaring virtual assets illegal
Fri, 30 May 2025 22:00:00 +05:00

A visual representation of the digital cryptocurrency Bitcoin. — AFP/File

ISLAMABAD: The State Bank of Pakistan has issued a clarification about cryptocurrencies "deemed illegal" in Pakistan, saying that its 2018 advisory did not declare virtual assets illegal, but only cautioned...

Pakistan, US formally kick off negotiations on Trump's reciprocal tariffs
Fri, 30 May 2025 21:43:00 +05:00

A collage of Finance Minister Muhammad Aurangzeb and US Ambassador Jamieson Greer. — Ministry for Finance/Reuters/File

Both sides exchange viewpoint through constructive engagement.Pakistan faces a potential 29% tariff on exports to the US.Pakistan offered zero tariff...

Crypto Council to meet on June 2 to chart regulatory roadmap for digital currency
Fri, 30 May 2025 18:13:51 +05:00

Representations of virtual cryptocurrencies are seen in this illustration taken November 28, 2021. — Reuters

FinMin Aurangzeb to chair meeting.PCC CEO Bilal Bin Saqib to attend session. Meeting to discuss framework to govern digital assets.

ISLAMABAD: The...

Risk or opportunity? Pakistan enters volatile crypto market
Fri, 30 May 2025 14:35:00 +05:00

Representations of cryptocurrency bitcoin are seen in this illustration picture created in Paris, France, March 9, 2024. — Reuters

In a landmark announcement at the Bitcoin Vegas 2025 summit, Pakistan introduced its first government-backed Strategic Bitcoin Reserve, signalling a...

Pakistan's 'addictive' profitability pitched by envoy to US policymakers, investors
Fri, 30 May 2025 13:03:00 +05:00

Pakistan’s Ambassador to the United States Rizwan Saeed Sheikh delivering an address, May 17, 2025 — Facebook/Pakistan Embassy US

Cost-effective IT services, vast mineral wealth highlighted.Trade ties can grow through cotton, soybean imports: envoy.Touts Pakistan could be...

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Old school Easter eggs.