Pakistan has accepted 23 tough IMF conditions to continue its loan programme. The IMF has also barred the government from creating new Special Economic Zones or offering fresh incentives. The lender has pushed Pakistan to raise taxes and cut subsidies to stabilise the economy. The government agreed to increase GST on selected items to the […]
IMF conditions:
Power sector circular debt set to soar to Rs 2,300 billion
Islamabad: Pakistan’s power sector circular debt may rise by Rs 735 billion during the current fiscal year, pushing the total to around Rs 2,300 billion, sources said. The increase is partly due to rebasing adjustments, while reduced losses in distribution companies and improved recoveries could limit the rise by Rs 212 billion. Authorities plan to […]
FBR launches audits of doctors, beauty parlors, and paint sector
ISLAMABAD – The Federal Board of Revenue (FBR) has intensified audits targeting high-earning doctors, beauty parlors, and private companies in the paint sector in major Pakistani cities, including Karachi, Lahore, and Islamabad. The move comes as part of Pakistan’s commitment to strict conditions set by the International Monetary Fund (IMF). Read More: FBR faces Rs270 billion […]
NFC meeting scheduled for December 4 to discuss IMF conditions
ISLAMABAD: A meeting of the National Finance Commission (NFC) has been scheduled for December 4 to review the implementation of IMF conditions and the new financial award, sources said. The federal government has invited all four provinces to the session, which will be attended by Federal Finance Minister Muhammad Aurangzeb and the provincial finance ministers. […]
Sindh Urges Federal Govt to Set Wheat Support
KARACHI — Sindh Agriculture Minister Muhammad Bux Khan Mahar has called on the federal government to promptly set the wheat support price, citing growing financial pressure on farmers due to pricing uncertainty. Minister Mahar urged Islamabad to fix the wheat support price at Rs4,200 per 40kg, stressing that delays were making it difficult for farmers […]
Govt to focus on key projects as budget shrinks to Rs880bn: Ahsan Iqbal
The federal government has decided to focus only on high-priority development projects in the upcoming fiscal year due to limited funds. Planning Minister Ahsan Iqbal said on Monday that the total Public Sector Development Programme (PSDP) now stands at Rs880 billion, excluding Rs120bn for the N-25 expressway upgrade in Balochistan. The rest of the development […]
Petrol prices to be revised weekly under IMF conditions: sources
As part of its efforts to revive the delayed $6 billion IMF bailout package, the Pakistani government is prepared to revise the petrol prices on a weekly basis, which was one of the requirements for the release of the money to Islamabad, said sources privy to the decision. The petrol prices are currently reviewed after […]