ISLAMABAD: Tax collection by the Federal Board of Revenue (FBR) fell short of the target by almost Rs33 billion in February, mainly due to lower collection of domestic taxes and customs duty, provisional figures showed on Thursday. The revenue collection in February stood at Rs681bn against a projected target of Rs714bn. However, it increased by over 30 per cent compared to Rs519bn collected in
WITH the process of government formation well and truly under way, the question on everyone’s lips now is: who will become custodian of the country’s kitty? Speculations abound, yet it is clear that the PML-N — which is actively lobbying to have its own man in the coveted slot — wants to revive the political capital that was eroded by its 16-month stint at the helm of the Pakistan Democratic Mo
KARACHI: Extending a yet another major relief to cash-strapped Islamabad, the Chinese government has rolled over its $2 billion loan, which was due in March, for one year. The finance ministry on Thursday confirmed that China has accepted Pakistan’s request for the rollover, considering the country’s current inability to repay the loan. Most of the foreign exchange reserves of the State Bank
ISLAMABAD: With inflation at about 29 per cent, Caretaker Finance Minister Dr Shamshad Akhtar, in her departure note, is leaving behind a piece of advice to the incoming government to stay the course, be prudent and reach immediately an agreement with the International Monetary Fund (IMF) for a new medium-term programme to anchor difficult reforms. Claiming a series of gains over the six-month
KARACHI: The net profit earned by the top 100 performing companies listed on the Pakistan Stock Exchange (PSX) surged 51%, reaching a new record high of over Rs1.5 trillion in the year ended December 2023. The major causes of depreciation in the domestic economy, namely high inflation rates, high interest rates, and rupee depreciation, provided a strong basis for different sectors to maintain a