Consumers must brace for another hike in electricity tariff as the government was left with no other option but to receive additional payment from consumers to retire the power sector debt hovering at Rs1,000bn. This will be in addition to a slew of other measures, including removal of subsidies and other adjustments, to retire the debt. The move is part of the government’s actions to meet prec
The Supreme Court on Monday modified an interim order of the Lahore High Court (LHC) and directed wealthy taxpayers to deposit their 50 per cent due super tax directly with the Federal Board of Revenue (FBR) within one week. A three-member bench, headed by Chief Justice of Pakistan Umar Ata Bandial, took up the FBR plea against the impugned interim order which had stayed the recovery proceeding
Ishaq Dar’s boastful comeback has deepened Pakistan’s economic turmoil. In a fairly short stint, Mr Dar has not only worsened his party’s political prospects but has also brought Pakistan on the verge of defaulting on external debt despite taking over the baton after Pakistan secured the International Monetary Fund (IMF)’s clubbed seventh and eighth tranches. Finding himself short on time and a
At the Apex Committee meeting over terrorism in Peshawar on Friday, Prime Minister Shehbaz Sharif complained that the International Monetary Fund (IMF) mission visiting the country for discussion to resume its bailout package was giving a ‘very tough time’ to Finance Minister Ishaq Dar and his team. It is time the Fund did it. Period. If Pakistan wants to break up with the lender of last resort
Prime Minister Shehbaz Sharif on Sunday reiterated that the country was facing substantial financial challenges, with the International Monetary Fund (IMF) “combing every book” during the ongoing negotiations over the ninth review of the $7 billion loan programme. The IMF delegation, headed by Nathan Porter, and the government began the make-or-break discussions last week. Pakistan needs to com