The country witnessed a significant surge in remittances during the first quarter of the current fiscal year (FY25), with inflows jumping 39 per cent compared to the same period last year. The State Bank reported on Wednesday that September remittances saw a remarkable 29pc increase compared to the same month last year. “Workers’ remittances recorded an inflow of $2.8 billion during Septe
Finance Minister Muhammad Aurangzeb on Wednesday said that tax on the agriculture sector would come into force from July 1, 2025, under the National Fiscal Pact (NFP) with provinces and hoped to sign a memorandum of understanding (MoU) shortly with China on talks for reprofiling of energy sector debt. Speaking to journalists after a meeting of the Senate Standing Committee on Finance, the finan
After five straight fortnightly cuts, the petroleum prices have started reverse journey owing mainly to higher international prices following flare up in the Middle East crisis. Informed official sources said the prices of major petroleum products — petrol and high speed diesel (HSD) — are estimated to go up by around Rs5.50 and Rs13 per litre, respectively, with effect from October 16 for the
Vehicles or means of transport used to move smuggled goods are now subject to immediate confiscation without the option of payment of a fine, under a recent amendment. The change, made to SRO 499 of 2009, empowers authorities to confiscate vehicles used for transporting smuggled goods as part of a decisive move to intensify the government’s anti-smuggling campaign. An official announcement b
The World Bank raised its growth forecast for South Asia to 6.4 per cent in 2024 from an earlier estimate of 6.0pc, citing quicker recoveries in crisis-hit countries such as Sri Lanka and Pakistan and the strength of domestic demand in India. “You have an emerging class of consumers in India that’s driving the economy forward, you have recoveries from crises in Sri Lanka and in Pakistan, you al