Pakistan's Rs18.8 Trillion Budget: Forward-Looking Yet Silent
Pakistan unveiled a Rs18.8 trillion budget for FY2026-27, focusing on debt servicing, defence, and global integration, but lacking allocations for education, health, IT, and agriculture.
Category : Business
Budget Distractions Mask the Real Economic War
As Pakistan's budget speech unfolds, the real story lies elsewhere: SpaceX's $1.75 trillion IPO, AI-driven inequality, and the hidden battle for economic control.
KP CM Urges Federal Govt to Complete N-95 Kalam Road
Khyber-Pakhtunkhwa CM Sohail Afridi demands urgent completion of N-95 Kalam Road rehabilitation, citing safety, tourism, and economic impacts from 2022 flood damage.
No New Taxes in Budget, Focus on Tax Net Broadening
Finance Minister Aurangzeb says no new taxes in FY2026-27 budget, focusing on broadening tax net via compliance and enforcement.
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Man Gets 10 Years for $300K LEGO Theft Ring
A Texas man was sentenced to 10 years in prison for stealing over $300,000 in LEGO sets and other goods in a multi-state organized retail theft operation.
Pakistan Cuts Petrol Price by Rs4, Diesel by Rs2
The Pakistani government has reduced petrol prices by Rs4 per litre and high-speed diesel by Rs2 per litre, effective from January 1, 2025, providing relief to consumers.
ILO Adopts Historic Gig Economy Convention
The UN's ILO adopted the first international agreement on Friday to protect digital platform workers in the gig economy, covering fair pay, social security, and labor rights for millions globally.
SpaceX Surges 20% in Nasdaq Debut, Valuation Tops $2 Trillion
SpaceX shares jumped over 20% on Nasdaq debut, lifting valuation above $2 trillion. The IPO raised $75 billion, making it the world's largest, as investors bet on Elon Musk's empire.
PTI Rejects Budget 2026-27, Accuses Govt of Burdening Citizens
PTI rejected the federal budget for 2026-27, criticizing it as pro-rich and anti-common man. Party leader Sheikh Waqas Akram accused the government of using manipulated figures and failing to provide relief.
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Budget 2026-27: Income Tax Calculator for Salary
Discover your new take-home salary under Budget 2026-27 with our easy-to-use income tax calculator. Find out how tax changes affect you.
Budget 2026-27: Minimum Wage Up 10%, Surcharge Scrapped
The federal government raised minimum wage by 10% to Rs40,700 and abolished surcharge on salaried individuals in Budget 2026-27, aiming to support low-income workers and ease tax burden.
Pakistan Imposes FED on Imported Vehicles in Budget
Finance Minister Aurangzeb announces FED on imported vehicles, including SUVs and EVs, while abolishing excise duty on business-class travel and removing surcharge for salaried class.
Pakistan Proposes 90% Cut in Withholding Tax on Intl Cards
The government proposes reducing withholding tax on international credit/debit card transactions from 5% to 0.5% in the federal budget for FY 2026-27, aiming to promote formal financial channels.
Pakistan Proposes Rs3 Trillion Defence Budget, 18% Rise
Pakistan's government proposes Rs3 trillion for defence in FY 2026-27, an 18% increase. Finance Minister cites strong defence capabilities and foreign interest in fighter jets.
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Pakistan Unveils Tax Relief for Four Income Slabs in Budget
Finance Minister Aurangzeb announced tax cuts for four salaried income slabs and removal of surcharge in the 2026-27 budget, following PM Shehbaz Sharif's directives.
Gold Prices Recover Strongly in Domestic and International Markets
Gold prices rebounded sharply on Friday, with per tola rising by Rs7,250 to Rs440,966 in Pakistan, reversing some of the previous day's losses amid global market volatility.
Cabinet Approves 7% Salary and Pension Hike for Govt Employees
The Federal Cabinet approved a 7% increase in salaries and pensions for public sector employees, merging previous relief allowances into the pay structure.
Ex-Senator Taj Afridi Dies in Peshawar Motorway Crash
Former PML-N senator Taj Muhammad Afridi died in a traffic accident on the Peshawar Motorway near Swabi. The vehicle went out of control due to a suspected mechanical fault. Afridi died on the spot, while the driver was injured and hospitalized.
President Zardari Approves PIA Privatisation Bill
President Asif Ali Zardari approved the PIA privatisation bill, completing legal formalities. The carrier was acquired by a consortium led by Arif Habib Corporation for Rs135 billion.
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Pakistan Proposes Rs1 Trillion PSDP in Rs17.5 Trillion Budget
Pakistan's government proposes Rs1 trillion PSDP in Rs17.5 trillion budget for FY2026-27, with GDP growth target of 4% and inflation at 8.2%. Key allocations include water resources, NHA, and HEC.
PM Shehbaz Approves Federal Budget 2026-27 Draft
Prime Minister Shehbaz Sharif approved the draft of Federal Budget 2026-27 during a cabinet meeting in Islamabad, thanking coalition parties and the IMF for support.
Punjab Ends Free Public Transport, Fares Resume June 13
Punjab government reinstates fares on Orange Line, Metro Bus, Speedo Bus, and Green Electric Bus from June 13, ending free rides that served 800,000 daily passengers.
PSX Surges Nearly 2,000 Points Ahead of Budget
Pakistan Stock Exchange jumped 1,955 points before Friday prayers, driven by investor optimism ahead of Finance Minister Aurangzeb's budget presentation for FY2026-27.
Elon Musk World's First Trillionaire After SpaceX IPO
Elon Musk's net worth hits $1.1 trillion on paper after SpaceX's record $75 billion IPO, making him the world's first trillionaire.
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President Zardari Signs PIA Privatisation Bill into Law
President Asif Ali Zardari has signed the PIA Corporation (Conversion) (Repeal) Bill, 2026, completing a key legal step for the privatisation of the national flag carrier.
Elon Musk Becomes World's First Trillionaire
Elon Musk's net worth exceeds $1.1 trillion after SpaceX's record IPO, making him the world's first trillionaire despite controversies and political fallout.
UK Trade Deficit Narrows to £21 Billion in April
UK trade deficit fell to £21 billion in April, below March but above forecasts. Imports rose 1.5% to £54.1 billion, exports up 2.6% to £33.1 billion, driven by EU trade.
Oil Prices Drop Over 2% as Trump Calls Off Iran Strikes
Oil prices fell over 2% on Friday after Trump cancelled plans to strike Iran, easing fears of escalation. Brent dropped to $88.27, WTI to $85.81.
Iran IRGC Navy Intercepts Oil Tanker at Strait of Hormuz
Iran's IRGC Navy intercepted an oil tanker attempting to cross the Strait of Hormuz without coordination, warning of extreme firmness against future violations.
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Karak's Resource Curse: Riches Underground, Poverty Above
Karak district in Khyber Pakhtunkhwa is rich in oil, gas, and minerals, yet locals suffer from uranium-contaminated water, lack of gas, and poor infrastructure due to the resource curse.
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