The image of representation shows a work oil pump at Taft Kern County, California, United States, September 21, 2023. – AFP The impact of the 2025 financial year should exceed 18 billion rupees. The industry wants a minimum tax on refineries and omc reduced to 0.25%. The OCAC is looking for the restoration of the … Read more
A participant stands near an IMF logo in the International Monetary Fund – Annual Réunal de la Banque 2018 World Bank in Nusa Dua, Bali, Indonesia, October 12, 2018. – Reuters The budget for the following financial year must be finalized after the IMF consultations. The IMF agree to remove federal excise duties on the … Read more
The Minister of Finance, Senator Muhammad Aurangzeb, speaks during a session of the National Assembly in Islamabad, March 17, 2025. – Screengrab / @ naofpakistan Currently, no plan to increase wages, pensions, explains the minister. Said no review plan for remuneration scales, allowances. Hiring, limit housing allowance during examination, he says. The Minister of Finance, … Read more
Listen to the article The federal government has excluded any increase in wages and pensions for public sector employees in the next budget, confirmed the Minister of Finance Muhammad Aurangzeb in a written response to the National Assembly. During questions, Aurangzeb said that no proposal was being studied to revise the remuneration scales, allowances or … Read more
Islamabad: The Standing Committee of the National Assembly on the railways examined Tuesday the budgetary proposals linked to the Public Sector Development Program (PSDP) for the Ministry of Railways and its departments attached for the financial year 2025-26. MNA Rai Hassan Nawaz Khan chaired the Committee meeting. The secretary, ministry of railways, informed the committee … Read more
The newly appointed Minister of Finance appointed Muhammad Aurangzeb, poses after taking an oath to Islamabad, March 11, 2024. – Ministry of Finance The Minister of Finance, Muhammad Aurangzeb, announced on Sunday the intention of reducing the financial burden of the salaried class in the coming budget. His remarks occurred a few days after thousands … Read more
The Federal Board of Revenue (FBR) has initiated consultations with key stakeholders to finalize proposals for the Federal Budget 2025-2026, focusing on phasing out tax exemptions, increasing revenue generation and rationalization of tax laws. In an official communication to business associations such as Federation of Pakistan Chambers of Commerce and Industry (FPCCI), American Business Council, … Read more
Russian President Vladimir Putin budget plans approved, bringing military spending for 2025 to record levels as Moscow seeks to assert itself in the war in Ukraine. About 32.5% of the budget published on a government website on Sunday was allocated to national defense, or 13.5 trillion rubles (more than $145 billion), compared to 28.3% this … Read more
A pedestrian walks past the International Monetary Fund headquarters in Washington, DC. — AFP/File The IMF suggests strengthening the initial phase of budget preparation. The lender calls for the creation of stronger fiscal institutions. This requires strengthening revenue mobilization and administration. ISLAMABAD: The International Monetary Fund (IMF) has highlighted glaring flaws in Pakistan’s budget formulation … Read more