Business
Government Abolishes Export Development Surcharge, Orders Audit of EDF
In a major step aimed at boosting Pakistan’s stagnant exports, Prime Minister Shehbaz Sharif has directed authorities to abolish the Export Development Surcharge and ordered a five year third party audit of the Export Development Fund (EDF). The decision comes…
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Pakistan Registers Record Exports to European Countries
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Pakistan’s exports to European countries recorded a growth of 8.62% during the first ten months of the current fiscal year, largely due to stronger shipments…
Govt Plans 5% Digital Services Tax in Upcoming FY2025-26 Budget
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The federal government of Pakistan plans to introduce a 5% digital services tax in the upcoming FY2025-26 budget. This move could reshape the country’s digital…
IMF Supports Tax Cut for Salaried, Rejects Wealth Levies
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The International Monetary Fund (IMF) has dismissed Pakistan’s latest efforts to introduce a capital value tax on movable assets such as “cash” and “gold,” as…
Pakistan Defence Budget May Get a Whopping 114% Rise This Year
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ISLAMABAD: The Pakistan defence budget may see a whopping 114% increase in the upcoming fiscal year 2025-26, with proposed allocations rising sharply from Rs5.386 billion…
Google Settles Lawsuit; Will Spend $500 Million On Internal Compliance
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Google has settled a shareholder lawsuit, agreeing to invest $500 million over the next decade to enhance its compliance framework. This settlement addresses allegations of…
Govt Secures $2.5 Billion in Foreign Aid Commitments for Pakistan
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ISLAMABAD: Pakistan secured foreign aid commitments worth $2.5 billion from development partners during the first half (July–December) of the current fiscal year 2024–25, according to…
Engro Polymer Seeks Regulatory Duty on PVC Imports
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ISLAMABAD: Engro Polymer & Chemicals Limited has urged the federal government to impose a regulatory duty on PVC imports ranging from 5 to 10 percent,…
ADB Board Approves Loan for Pakistan Despite Indian Outcry
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The Asian Development Bank (ADB) has officially approved an $800 million financing package for Pakistan, despite vocal opposition from India. The ADB loan for Pakistan…
Govt Secures Tax Relief for Salaried Class in IMF Budget Talks
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ISLAMABAD: The federal government has reportedly secured income tax relief for the salaried class during ongoing budget negotiations with the International Monetary Fund (IMF), marking…
Pakistan Crypto Council Sets Up Committee for Digital Asset Regulations
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The Pakistan Crypto Council (PCC) convened a high-level meeting at the Finance Division, chaired by Senator Muhammad Aurangzeb, the Federal Minister for Finance and Revenue.…
Govt Moves to Introduce Bankruptcy Law in Pakistan
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In a key policy development, the government has taken steps to introduce a bankruptcy law in Pakistan, aiming to improve the investment climate and revive…
Pakistan Inflation Rate for May 2025 Exceeds Forecasts
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ISLAMABAD: The Pakistan inflation rate in May 2025 climbed to 3.5% year-on-year, significantly higher than April’s 0.3% figure, according to data released by the Pakistan…
Pakistan Sets $5 Billion IT Export Target for 2025
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ISLAMABAD: The government has set the Pakistan IT exports target for 2025 at $5 billion, aiming to build on the sector’s robust growth. This was…
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