Banks disbursed Rs 2.2 trillion to the non-government sector, including the private sector and NBFCs, during the first five months of FY25, as they aimed to meet their advance-to-deposit ratio (ADR). The goal set by the government. Under the 2024-25 budget, banks that fail to raise the daily access rate to 50% by December 31 … Read more
The government has unveiled a five-year economic transformation plan that aims to expand Pakistan’s economy to $1 trillion by 2035 while addressing structural challenges in multiple sectors. However, social media restrictions, frequent internet outages, and firewall enforcement pose significant obstacles to achieving this ambitious goal. The Express Tribune She stated that the “Five-Year National Economic … Read more
The government announced the retirement of 1.9 trillion rupees of debt, supported by record high revenues from the Petroleum Development Levy (PDL) and big profits from the State Bank of Pakistan (SBP), driven by high interest rates and low inflation. . According to the Ministry of Finance’s monthly economic update and outlook (November 2024), the … Read more
Islamabad: Federal Minister of Finance and Revenue Muhammad Aurangzeb on Sunday expressed hope that by 2047, the size of the country’s economy will reach $3 trillion, which currently stands at $300 billion. Under the leadership of Prime Minister Muhammad Shehbaz Sharif, the government has shown economic discipline and introduced economic reforms, and now the country’s … Read more
Constantly pointing out the shortcomings of Pakistan’s energy sector may seem repetitive, but the scale of the challenges it faces keeps it in the headlines. In early November, the Government of Pakistan announced its Circular Debt Management Plan (CDMP) for the energy sector. Although the expected growth in debt obligations is only 1.5%, outstanding liabilities … Read more
Finance Minister Senator Muhammad Aurangzeb (L) and FBR Chairman Rashid Mehmood Langriyal address a press conference to summarize the FBR study regarding sales tax evasion in Islamabad on October 10, 2024. – PID Aurangzeb says most entities claim excess input tax. Sharing FBR findings on massive malpractices in 5 sectors. Finance czar warns tax evaders … Read more