Federal Board of Revenue’s (FBR) tax exemptions reached an all-time high of Rs2.239 trillion in the outgoing fiscal year, up 51 per cent from Rs1.482tr in FY22, showed the Pakistan Economic Survey 2022-23 released by Finance Minister Ishaq Dar on Thursday. The government claims that it has met all conditions set out by the International Monetary Fund to unlock the stuck-up funding under the $7b
The fiscal year 2023 was not very different from the previous many years as the external account recorded a dismal performance owing to increased debt repayment, dwindling reserves and falling exports. The government’s only solace lay in its success in curtailing the import bill but decreased exports and poor remittance collection significantly offset any gains on that front, according to the E
Finding himself on the back foot as he attempted to defend a jarring slowdown in economic growth in the outgoing fiscal year, Finance Minister Ishaq Dar, while unveiling the Pakistan Economic Survey 2022-23 on Thursday, spoke less about the dismal performance of various sectors of the national economy and more on the global environment and economic fundamentals the PDM government had inherited whe
Amid 38 per cent inflation and uncertain exchange rates, stakeholders have ruled out a pro-consumer budget for 2023-24. The government tried to help the masses by cutting the diesel price by Rs35 per litre followed by a drop of Rs80 per kg/litre in ghee/cooking oil rates at utility stores. However, exorbitantly high electricity bills continue making the lives of people miserable. Pakistan Bu
The pre-budget rally remained in full swing on the Pakistan Stock Exchange (PSX) as share prices rose on Wednesday amid positive triggers. Topline Securities said expectations of major incentives for technology companies in the upcoming budget as well as news reports suggesting a potential deal between the government and the global oil giants about establishing the customs-bonded storage facili