The federal government has confirmed there will be no increase in salaries or pensions for public sector employees. Finance Minister Muhammad Aurangzeb delivered this news in a written response to the National Assembly. He stated that no proposals for salary revisions are currently under consideration for the next fiscal year. This announcement comes as inflation […]
Finance Minister
Special courts for overseas Pakistanis’ property disputes established in Islamabad
Islamabad is set to establish special courts under the Overseas Property Act 2024 to resolve property disputes for overseas Pakistanis. The acting Chief Justice of the Islamabad High Court is leading this initiative to expedite case resolutions. Session judges will appoint the judges for these courts, focusing on their experience and pending cases. A special […]
Aurangzeb backs insurance sector to drive financial stability
Finance Minister Muhammad Aurangzeb has urged Pakistan’s insurance industry to expand and meet the country’s rising financial needs beyond traditional banking. He emphasized the importance of innovation, productivity, and investment in the sector during a meeting with top insurance CEOs. The government aims to create new lending opportunities and strengthen the insurance industry’s role in […]
RBNZ governor Adrian Orr resigns amid profitable review
Adrian Orr, the Governor of the Reserve Bank of New Zealand( RBNZ), abnegated on Wednesday, ending his seven- time term three times beforehand. His abdication will take effect on March 31. No specific reason for his departure was handed, although it follows adding review from the National Party- led government. Orr’s abdication comes after public […]
Pakistan to soon become a defaulter? Read what Miftah Ismail has to say
ISLAMABAD: Finance Minister Miftah Ismail has rejected rumors about Pakistan’s likely failure in repayment of international loans. Ismail, while talking to a think tank in the UAE expressed hope that the country will receive more dollars in the upcoming few weeks. This will help in the improvement of the exchange rate. He said that a […]
Tarin says Pakistan, IMF interested to move forward with Extended Fund Facility
ISLAMABAD: Federal Minister for Finance Shaukat Tarin, ruling out any disagreement between Pakistan and International Monetary Fund (IMF), on Monday said the Extended Fund Facility (EFF) programme would continue as both wanted it to move forward. Talking to a private TV channel, he said that there was no danger of Pakistan coming out of the […]
PTI govt set direction for long term economic growth in Budget 2021-22: KCCI
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) has welcomed the Budget 2021-22 and termed it a balanced budget in the current economic scenario of Pakistan. Addressing a press conference immediately after the budget speech here Friday, the Chairman Businessmen Group Zubair Motiwala, President KCCI Shariq Vohra and former president KCCI Haroon Farooqui said […]
Balochistan govt to present ‘relief-oriented’ budget on June 18
ISLAMABAD: The Balochistan government, led by the Balochistan Awami Party, will present its budget for the fiscal year 2021-22 in the Provincial Assembly on June 18. The government would unveil its ‘relief-oriented’ and ‘pro-people’ budget for the upcoming fiscal year 2021-22, with a total outlay of more than Rs 500 billion. Provincial Finance Minister Mir […]
Tarin says Pakistan wants to strengthen trade, investment cooperation with US
ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin has said that Pakistan intended to further strengthen its valuable trade, investment and people-to-people ties with the United States. Addressing a virtual meeting with representatives of US-Pakistan Business Council (USPBC), he said that the government was also firmly committed to providing an enabling environment to promote […]
Tarin says ready to provide additional funds, asks GB to rationalize outflows
ISLAMABAD: Federal Minister for Finance and Revenue Shaukat Tarin on Wednesday said that the federal government was ready to cooperate with the Gilgit-Baltistan government for the provision of additional funds during the next financial year. However, he said that the Gilgit-Baltistan government should also rationalize its expenditures as the federal government was also exercising strict […]