ISLAMABAD: The Federal Board of Revenue has collected Rs5.150 trillion from July 2023 to mid-February 2024, compared to Rs3.973 trillion over the same period last fiscal year, reflecting a 30% growth. Tax refunds increased by over 28% during this period, as stated in a press release issued by the finance ministry on Tuesday. Domestic tax growth has been approximately 40%, while import duty and
Food and agricultural experts have stressed that failing to take appropriate initiatives could severely impact the future generations of the country due to rising food shortages and malnutrition resulting from various factors. They highlighted that Pakistan is facing numerous challenges regarding food insecurity and malnutrition, which stem from issues such as poverty, limited access to clean wate
The Power Division, on Tuesday, claimed that it had met the target of freezing circular debt at Rs2.310 trillion as of December 21, 2023, in its efforts to manage the power sector and address technical and commercial losses. The Power Division secretary informed a meeting of the Senate Standing Committee on Power, chaired by Senator Azam Nazeer Tarar, about this achievement. The Secretary of t
Pakistan’s power generation dropped by 2.4% to 8,314 Gigawatt hours (GWh) in January 2024 due to low demand in the system during the winter month. However, the cost of the fuel component in the overall production surprisingly surged by 23% to Rs13.79 per unit due to increased reliance on expensive fuels like imported gas, furnace oil, and diesel. According to data compiled by Arif Habib Limited,
The interim government has made major revisions to this fiscal year’s budget, significantly increasing the federal budget deficit to a new record high of Rs8.54 trillion but cutting the external loans estimates by over $6 billion due to the non-materialisation of Eurobonds and foreign commercial loans. On Tuesday, the Ministry of Finance released its new Annual Borrowing Plan, detailing the rev