Latest News
Rs1.478tr collected from fuel, climate levies in last fiscal year: govt
Revenue from petroleum and climate levies allowed the government to keep the federal budget deficit under control in the first 11 months of fiscal year 2025-26, official financial data showed.
The government raised more than Rs1.478 trillion through petroleum and environment levies to restrict the federal budget deficit to Rs3.34 trillion or 2.6% of gross domestic product (GDP) during the July-May period of FY2025-26.
As per the agreement with the International Monetary Fund (IMF), the provinces achieved a combined budget surplus of Rs1.31 trillion in the first 11 months of the fiscal year, which helped narrow the overall fiscal deficit to Rs2.03 trillion, or 1.6% of GDP.
The government had an aim for the entire fiscal to limit the overall fiscal deficit at 3% of GDP or Rs3.77 trillion, lowered from the original target of 3.9% of GDP or Rs5.03 trillion.
The Ministry of Finance has not yet released the reconciled fiscal operations statistics for the fiscal year ended June 30, 2026, and the final numbers are expected to be compiled in the next few weeks.
The government collected Rs4.82 trillion from three major non-tax revenue sources, including State Bank of Pakistan profits, petroleum levy and climate support levy, during the first 11 months against a full year target of Rs5.14 trillion, official data revealed.
The government got Rs2.428 trillion in State Bank profits, Rs1.432 trillion from petroleum levy and Rs45.97 billion under the climate assistance levy during the time.
Meanwhile, the Federal Board of Revenue (FBR) collected Rs11.228 trillion as tax, Rs6.163 trillion was spent on servicing the debt while authorities said that all the funds earmarked for the Public Sector Development Programme (PSDP) had been properly utilized.
Latest News
Spain, Argentina gear up for World Cup final
Led by battle-hardened Lionel Messi, Argentina take on silky Spain in the World Cup final on Sunday in New Jersey as the first 48-team tournament in history reaches a finale.
The South Americans are trying to become the first team since Brazil in 1962 to win back-to-back World Cups, while Spain are on the hunt for a second crown after their first in 2010.
Messi, regarded the best player of all time, is expected to play his last World Cup match in Sunday’s final.
Argentina coach Lionel Scaloni told spectators to savour watching the little genius lead his squad out at MetLife Stadium at the age of 39.He created history. “He is a legend,” said Scaloni of the former Barcelona star who helped Argentina win the World Cup in Qatar in 2022.
Spain have only let in one goal at the World Cup thus far.
The three-time champions have exhibited a remarkable never-say-die spirit in the 2026 campaign.
They produced a remarkable comeback from 2-0 down in the last moments of their last-16 match against Egypt and another dramatic comeback in the closing stages of their semi-final against England.
Spain, meanwhile, have been almost perfect, letting in a solitary goal in their seven matches thus far and brushing France aside in the semi-finals.
Spain captain Rodri said he expected a “physical” clash and would try to avoid any possible “provocations”.”It is going to be more physical and we have to be ready,” stated the midfielder. “But I think if there’s one thing we’re known for in this national team is that we know how to play different games depending on the moment.
Latest News
Drug case: Anmol aka Pinky’s brother nabbed in Karachi
Karachi: During an operation in Karachi, police have detained suspected drug suspect Anmol alias Pinky’s brother Kamran Murad. Police have collected narcotics, cash and mobile phones from Murad’s possession.
Police said the arrested suspect was identified as Kamran Murad son of Murad Bakhsh. Officers seized nearly two kilograms of hashish, half a kilogram of crystal meth (ice), mobile phones and cash during the investigation.
Cases have been registered against the suspect under Control of Narcotic Substances Act, stated police. They claimed that Kamran Murad is sibling of alleged cocaine dealer Anmol alias Pinky and has been detained earlier in narcotics related cases.
Business
Govt dedicated to resolving Balochistan issues: Dar
– Deputy Prime Minister/Foreign Minister Senator Muhammad Ishaq Dar, Sunday, reiterated that the Federal Government was committed to addressing the challenges being faced by the people of Balochistan province, in achieving their legitimate aspirations for economic prosperity and development, within the confines of the Constitution of Pakistan.
Govt. committed to addressing Balochistan issues: DPM/FM DarThe deputy prime minister/foreign minister received President of the National Party Dr. Abdul Malik Baloch, along with parliamentary members of his party, the DPM Office said in a press release.
Minister for Inter-Provincial Coordination Rana Sanaullah Khan and SAPM Tariq Bajwa also attended the meeting.
Govt. committed to addressing Balochistan issues: DPM/FM Dar
Dr. Baloch thanked the DPM /FM and said that the National Party was willing to work together with all for the betterment and welfare of the people of Balochistan, and highlighted that certain elements operating in the province had neither support nor legitimacy in the hearts of the people of Balochistan.
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