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In a move aimed at aligning returns with current economic trends, the government has reduced profit rates on National Savings Schemes, effective June 27, 2025. The adjustment follows the State Bank of Pakistan’s (SBP) decision to hold its policy rate steady at 11% amid global uncertainty. Profit Rates See Broad Declines The sharpest reductions affected …
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In a major shift, the government has reduced the proposed tax on imported solar panels from 18% to 10%, following industry pressure and parliamentary opposition. The change comes as Pakistan’s solar imports are expected to exceed Rs110 billion in the upcoming fiscal year, reflecting soaring demand amid rising electricity prices. Revised Policy After Consultation Deputy …
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The government has warned it may introduce a Rs500 billion mini-budget if parliament blocks legal reforms targeting economic enforcement. Finance Minister Muhammad Aurangzeb made the statement during a post-budget press conference, stressing that enforcement, not more taxes, is the only viable path forward. Ban on Transactions by Ineligible Persons Aurangzeb said enforcement hinges on banning …
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JUI-F chief Maulana Fazlur Rehman has urged the government to extend full support to Pakistan’s business community, describing it as the backbone of the national economy. During his visit to Karachi, he stressed the need for a business-friendly environment and greater respect for traders and industrialists. Meeting with Business Leaders Fazlur Rehman visited the residence …
The federal government has unveiled strict non-filer restrictions in the Budget 2025–26 to expand the tax net and formalize the economy. Finance Minister Muhammad Aurangzeb announced sweeping changes aimed at discouraging tax evasion and enforcing compliance through limited financial access for non-filers. Ban on Property and Vehicle Purchases In a major policy shift, non-filers will …
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Facing a limited development budget 2025 of Rs880 billion, Planning Minister Ahsan Iqbal announced that the government will focus only on high-value, strategic projects in the next fiscal year. This shift aligns with IMF’s fiscal discipline demands and aims to ensure value for money in public spending. Tight Resources, Tough Choices At the Annual Plan …
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Despite widespread speculation, the federal government confirmed on Thursday that the Budget 2025-26 will be presented on June 10, dismissing rumors of a delay due to Eid holidays. Finance Secretary Imdadullah Bosal assured reporters that budget preparations continue in consultation with the International Monetary Fund (IMF). No Change in Budget Date Bosal stated that while …
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The government has officially announced the Eidul Adha holidays 2025, granting a five-day break for public sector employees from Thursday, June 5, to Monday, June 9. This extended holiday applies to all state institutions and public bodies across the country. Flexible Arrangements for Private Sector The decision was made during a recent cabinet session. This …
On 10th March 2023 morning, it was reported that Pakistan had not recorded any deaths due to COVID-19 in the past 24 hours. However, the number of confirmed positive cases had increased to 1,577,412, with 73 new cases being reported across the country. The National Institute of Health (NIH) released the latest figures, revealing that …
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Karachi: Chairman of National Electric Power Regulatory Authority (NEPRA) Tauseef Farooqui has said that Rs.7 billion of incremental units Govt owe will be paid. In this regard, KATI’s written request will be processed immediately. He expressed these views while addressing a luncheon held in his honor at the Korangi Association of Trade and Industry (KATI). …
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