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GDP growth

Pakistan, IMF agree to cut tax target by Rs150 billion

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ISLAMABAD: The government has reached an agreement with the International Monetary Fund (IMF) to reduce Pakistan’s tax collection target by Rs150 billion, official sources confirmed on Thursday. According to Federal Board of Revenue (FBR) officials, the target has been revised down from Rs14.131 trillion to Rs13.981 trillion for the current fiscal year. The IMF, however, has […]

Pakistan Revises FY25 GDP Growth to 3.04%

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ISLAMABAD: The government has revised Pakistan’s economic growth rate for the ongoing fiscal year (FY25) to 3.04%, up from the earlier estimate of 2.68%, The News reported. According to updated data, the economy recorded a strong 5.66% growth in the fourth quarter (April–June), which helped lift the overall annual rate. The revised figures were approved […]

IMF slashes Pakistan’s FY25 growth forecast to 2.6% amid global risks

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The International Monetary Fund (IMF) has lowered Pakistan’s GDP growth forecast for the fiscal year 2025 to 2.6%, cutting its earlier estimate of 3%. This revision comes amid growing global trade tensions and shifting international policy priorities, as highlighted in the IMF’s latest World Economic Outlook titled “A Critical Juncture Amid Policy Shifts.” The Fund […]

Pakistan Economic Survey 2020-21: LSM grew up by 9%, agriculture 2.77% despite bottlenecks, says Shaukat Tarin

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ISLAMABAD: Finance Minister Shaukat Tarin is unveiling the Pakistan Economic Survey 2020-21 at a press conference in Islamabad and initiated the press conference by appraising Prime Minister Imran Khan’s policies in combating the coronavirus pandemic and the production of rapid vaccines to curb the deadly virus. The Pakistan Economic Survey is an annual report on […]

NEC approves 4.8% GDP growth target, macroeconomic framework for FY 2021-22

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ISLAMABAD: The National Economic Council (NEC) on Monday approved the Gross Domestic Product (GDP) growth projections for the financial year 2021-22, including the proposed growth target of 4.8%. The sectoral growth targets approved for the next fiscal included 3.5% for agriculture, 6.5 % for the industrial sector, and 4.7 % for the services sector. The […]

PMLN hammers PTI, Imran Khan with ‘sinking economy’

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ISLAMABAD: The Pakistan Muslim League-N, with its 15-page ‘Sinking Economy’ under Imran Khan, took the federal government to task over the economic policies, saying the prime minister has ‘no knowledge’ of the basics of economics as he makes ‘decisions in line with advices from courtiers.’ Addressing a pre-budget seminar, former prime minister Shahid Khaqan Abbasi said […]

PM says Pakistan steered out of economic hardships with 4% GDP growth

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ZIARAT: Prime Minister Imran Khan on Tuesday said that with gross domestic product (GDP) growth, estimated at around 4% during the current fiscal (2020-21), Pakistan had been steered out of economic hardships and was set to achieve further growth in the upcoming year. “I have good news to share with you that Pakistan is coming […]

Asad defends GDP growth, says IMF, WB projections not always true

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ISLAMABAD: Putting up a fierce defence to the estimated GDP growth rate, Minister for Planning, Development and Special Initiatives Asad Umar on Tuesday said that the growth rate of 3.94 percent predicted by the National Accounts Committee (NAC) for the outgoing fiscal year was based on real figures and data. The figure was not fudged […]

GDP shocks in FY21 could surprise even more

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Senior analyst on investment Hamza Kamal has said that Pakistan’s economic growth for the financial year 2021 is expected to be 3.94 percent YoY, up from –ve 0.47 percent of the previous year, according to the State Bank of Pakistan. The expansion, which is the fastest since FY18, is expected to be broad-based, with services […]