SAI President: Export Tax Cut Modest, Unmet Demands Remain
Abdul Rehman Fudda, SAI president, terms export withholding tax reduction to 1.25% a modest relief, but notes unresolved issues like refunds, high tariffs, and penalty regime.
Category : Business
ChildLife Foundation Heat Warning; inDrive Appoints CFO
ChildLife Foundation advises parents to protect children from heatwave risks. inDrive appoints Abhey Lamba as Global CFO, reporting strong growth in Pakistan.
Karachi Police Seize 24kg Hashish in Drug Bust
Shah Latif Police in Karachi arrested three suspects and recovered 24kg of high-quality hashish worth millions, concealed in a rickshaw. The drugs were smuggled from Peshawar.
Pakistan Cuts Petrol by Rs 4, Diesel by Rs 2
The federal government reduced petrol prices by Rs 4 per litre and diesel by Rs 2 per litre, marking the fifth consecutive reduction. New prices effective from June 13.
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Gold Prices Surge Rs7,250 Per Tola in Pakistan on Friday
Gold prices in Pakistan saw a sharp increase on Friday, with 24k gold rising by Rs7,250 per tola to Rs439,966. International gold also climbed $72.50 to $4,175.30 per ounce.
PSX KSE-100 Index Surges 2,696 Points, Closes at 172,399
The PSX KSE-100 Index gained 2,696 points on Friday, closing at 172,399.90. Trading volume increased to 890.797 million shares with market cap rising to Rs19.120 trillion.
OICCI Welcomes Budget 2026-27, Flags Informal Economy Concerns
OICCI welcomes the Federal Budget 2026-27, noting fiscal restraint and structural reforms. It highlights the informal economy's growth, welcomes super tax rationalization, and urges broader corporate tax cuts and refund mechanisms.
Pakistan's Weekly Inflation Edges Up 0.16% in June 2026
Pakistan's weekly inflation rose by 0.16% for the week ended June 11, 2026, with SPI reaching 356.11 points. Year-on-year, inflation increased by 15.06%.
Govt Cuts Subsidies to Rs1.091 Trillion for Next Fiscal Year
The federal government has reduced subsidies to Rs1.091 trillion for FY26-27, a 5.7% cut from the revised Rs1.157 trillion, following IMF directives. Power sector subsidies are slashed despite being the largest recipient.
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Pakistan Sets Rs15.26 Trillion FBR Tax Target for FY2026-27
Pakistan's federal government has announced a challenging tax collection target of Rs15.26 trillion for FBR in FY2026-27, with new revenue measures worth Rs650 billion, including taxes on retail items, property, and digital content creators.
Water Sector PSDP Allocation Slashed to Rs103 Billion
Pakistan reduces PSDP allocation for water resources to Rs103 billion for 2026-27, a 22.6% drop from Rs133 billion, raising concerns over water security and infrastructure.
Pakistan Boosts BISP Budget by 17% to Rs838 Billion
Pakistan's federal government proposes a 17% increase in BISP funding to Rs838 billion for FY 2026-27, covering 12 million families and 9.2 million children with scholarships.
Rs19.58bn Allocated for IT, Telecom Schemes Including Smart Islamabad
Pakistan allocates Rs19.58 billion for 13 IT and telecom projects, including Smart Islamabad Initiative, National AI Ecosystem, and Pakawaz Secure Mobile Communication.
Digitalising National Savings: A Step Towards Efficiency
The government's plan to digitalise the Central Directorate of National Savings aims to eliminate archaic paperwork, improve fiscal data accuracy, and enhance user experience, but success hinges on a user-friendly interface.
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WAPDA Chairman at Global Infrastructure Forum in Macao
WAPDA Chairman Lt Gen (retd) Muhammad Saeed led Pakistan's delegation at the 17th IIICF in Macao, highlighting investment opportunities in water and power infrastructure and emphasizing regional connectivity over conflict.
Pakistan Plans $23.38 Billion Foreign Borrowing for FY2026-27
Pakistan aims to borrow $23.38 billion in foreign economic assistance for FY2026-27, a 17.5% increase from the previous year, to maintain reserves and repay loans.
Pakistan Ends Taxes on Sanitary Pads, Contraceptives
Pakistan's government proposes abolishing taxes on sanitary pads and contraceptives to improve women's health, hygiene, and family planning access, particularly for low-income groups.
Pakistan Removes Customs Duty on Cancer Medicine Raw Materials
Finance Minister announces removal of customs duty on raw materials for cancer medicines in federal budget to reduce treatment costs and boost local production.
Rs2.4bn Allocated for Law Ministry Development Projects
The federal government has allocated Rs2.403 billion to the Ministry of Law and Justice under PSDP 2026-27 for ongoing and new development schemes, including courts and tribunals complexes.
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President Zardari approves PIA privatization bill
President Asif Ali Zardari signed the PIA Corporation Conversion Repeal Bill 2026, fulfilling all legal requirements for the privatization of Pakistan International Airlines Company Limited.
Pakistan Cuts PSDP to Rs1 Trillion for FY2026-27
The federal government proposed Rs1 trillion for PSDP FY2026-27, 11% below APCC's recommendation, with cuts to water resources and KP merged districts, while allocating Rs1 billion for CPEC 2.0.
Rs8.8 Trillion NFC Transfer to Provinces in FY2026-27
The federal government will transfer Rs8.8 trillion to four provinces under the NFC award in FY2026-27, an increase of Rs1.2 trillion from the previous year, with Punjab receiving the largest share.
50 Pakistani Entrepreneurs Complete US Digital Trade Program
Fifty Pakistani entrepreneurs completed a US-supported accelerator program to enhance digital trade capabilities, equipping them with skills to compete in international e-commerce markets.
Pakistan Unveils Rs18.8 Trillion Budget with Tax Relief
Pakistan's federal budget for FY2026-27 totals Rs18.8 trillion, offering tax relief to salaried class and real estate, while increasing defense spending and borrowing Rs7 trillion.
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Fed Budget 2026-27: Tax Relief, 7% Pay Hike for Govt Employees
Pakistan's federal budget 2026-27 offers tax relief for salaried individuals, abolishes 9% surcharge, and grants 7% pay and pension increase for government employees.
Pakistan Cuts Petrol, Diesel Prices: Relief for Consumers
Pakistan reduces petrol by Rs4/litre and diesel by Rs2/litre from June 13, offering marginal relief amid rising smuggling concerns.
Pakistan Unveils Rs17 Trillion Tax Target, Relief for Salaried, Real Estate
Pakistan announced a Rs17 trillion tax target for FY26-27, with Rs52 billion relief for salaried class and Rs115 billion for real estate. New taxes on EVs, social media income, and hybrid vehicles.
Pakistan Plans Strategic Oil Reserves, Energy Upgrades by 2027
Pakistan announces measures to expand strategic oil reserves to 30-45 days, upgrade refineries, and boost renewable energy to 30% of generation mix by 2030 under FY27 plan.
Pakistan's Blue Economy Plan Aims to Double Shipping Fleet
The government's Blue Economy agenda for FY2026-27 targets doubling the national shipping fleet, upgrading ports, expanding fisheries, and exploring offshore energy, despite modest sector growth.
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Pakistan slashes PSDP for 2026-27 despite growth claims
Pakistan's federal PSDP for 2026-27 is reduced to Rs1 trillion, with total development outlay at Rs3.675 trillion, despite government's growth narrative. Economists criticize fiscal prioritization.
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