Ashfaq Tola, who chairs the Reforms & Resource Mobilisation Commission, said on Wednesday that the salaries of government employees would be raised by around 20 per cent in the coming budget. “Salaries of lower grade employees is very low and the scales need a major boost,” Mr Tola observed. He parried a question over the perks and privileges enjoyed by bureaucrats. Ashfaq Tola was addres
The government will hope to find a balance between reforms to satisfy the International Monetary Fund and measures to win over voters in an imminent election in its budget for 2023-24 to be announced on Friday, analysts said. Pakistan’s IMF programme runs out this month with about $2.5 billion in funds yet to be released as it struggles to strike an agreement with the lender, as it grapples wit
The government has conceded that lingering political instability, import controls and tight monetary policies caused the country’s prevailing economic downfall, taking the blame for the turmoil it has largely pinned on the usual suspects: the PTI and the floods. However, the coalition government expects that political stability would help put the country towards economic recovery and growth pat
The Pakistan Stock Exchange (PSX) observed a third consecutive bullish session on Tuesday, with the representative index breaking the psychological barrier of 42,000 points in intraday trading. Topline Securities said news reports about the likely tax relief on inter-corporate dividends, which are pay-outs that one company receives for holding shares in another company, in the upcoming budget
Peek-a-boo between Pakistan and the International Monetary Fund (IMF) is almost as old as the country. Both sides appease their audience and the recent exchange of statements by the two has to be seen in this light. IMF’s Mission Chief to Pakistan Nathan Porter, responding to some questions, said: “We take note of the recent political developments, and while we do not comment on domestic pol