The Public Accounts Committee (PAC) on Tuesday scrutinised audit reports for the Economic Affairs Division and the Ministry of Foreign Affairs for the fiscal year 2023-24, showing significant financial irregularities. During the session, officials disclosed that the Economic Affairs Division had received a grant of Rs12.97 billion, with Rs122 million returned. The committee directed officials t
Amid falling tax collections, the federal government’s borrowing from banks plunged 84 per cent during the first seven and half months of the current fiscal year. The latest data released by the State Bank on Tuesday showed that the government is far from the volume of borrowings made during the last fiscal year. The federal government borrowed Rs658 billion from July 1 to Feb 14 FY25 compar
Owning a home has long been considered a financial milestone, but for an average Pakistani, this goal is becoming increasingly unattainable. Property prices have surged beyond affordability, while stagnant wages and rising inflation make it harder for middle-income households to save enough for a down payment. As real estate continues to be a critical factor in economic stability, its increasing i
Deputy Prime Minister and Foreign Minister Senator Ishaq Dar on Saturday had a productive phone conversation with Denmark’s Foreign Minister Lars Lkke Rasmussen and discussed matters of mutual interest. The two leaders expressed their resolve to strengthen the long-standing friendship between Pakistan and Denmark into a strong economic partnership. They explored ways to expedite collaboratio
The State Bank of Pakistan (SBP) has announced that banks will remain closed for public dealing on Monday for the deduction of Zakat. According to SBP, all employees will attend the office on March 3. Ramazan timings Separately, the central bank announced office hours to be observed by all banks, development finance institutions and microfinance banks during Ramazan. According to the circu