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Pakistan promises to fully implement the $7 billion loan program at a meeting with the IMF team.

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Pakistan’s progress on the $7 billion loan package was assessed by the International Monetary Fund (IMF) and Pakistan during their second day of talks at the Ministry of Finance.

Muhammad Aurangzeb, Federal Finance and Revenue Minister, Minister of State for Finance Ali Pervaiz Malik, the governor of the State Bank, and the chairman of the Federal Board of Revenue (FBR) welcomed the IMF delegation, headed by mission commander Nathan Porter.

The discussion focused on the advancements made thus far in the execution of Pakistan’s $7 billion loan package.

Pakistan’s accomplishments in reaching the majority of the program’s goals for the first quarter of the current fiscal year were reported to the IMF delegation by Finance Minister Aurangzeb. He promised to pursue changes aimed at promoting economic stability and reaffirmed the government’s commitment to finishing the IMF program.

According to sources from the Finance Ministry, the IMF mission would stay in Pakistan until November 15 in order to carry out additional assessments.

The International Monetary Fund (IMF) group landed in Pakistan on Monday and began talking about the country’s fiscal performance with representatives of the Federal Board of Revenue (FBR). In the first quarter of the current fiscal year, the team, headed by the chairman of the FBR, provided the IMF with a briefing on tax collection and revenue numbers.

Between July and September, tax income amounted to Rs2,625 billion, which covered 96.6% of the first three months’ objective, according to FBR officials. Nevertheless, a shortfall of Rs190 billion was incurred in fulfilling the entire tax objective during the four-month period from July to October.

In September, FBR raised an extra Rs8 billion, exceeding the Rs1,098 billion objective, the IMF delegation was told.

Officials told the IMF delegation that over 5.2 million people filed income tax returns this year, generating over Rs132 billion in revenue, a 76% increase over the previous year. Additionally, during the first quarter, the FBR collected Rs 10 billion in taxes from shops.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Speaking to a press conference, Marriyum Aurangzeb says the PML-N government has restored the trust of investors.

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According to Marriyum Aurangzeb, senior Punjab minister, the PML-N government has won back the trust of investors by making strides in a number of areas, including agriculture.

Marriyum Aurangzeb, speaking at a press conference in Lahore, emphasized the Punjab government’s initiatives to bring about major changes in the province, particularly in Lahore.

Marriyum Aurangzeb stated that in order to guarantee sustainable growth, the master plan for Lahore has been completed, and plans of a similar nature are being worked on for other districts.

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