It is worth noting that IMF has recently permitted Pakistan to revise its annual tax target downward from Rs12,970 billion to Rs12,370 billion for the current fiscal year.
According to the Cabinet Division, 11,558 of the abolished positions belong to Grade-1 employees, the lowest pay scale.
Pakistan’s tax system is inequitable, with only 5 million return filers.
Budget 2025-26 likely in June
In the global market, gold prices also saw a notable jump of $46
Ogra recommended Rs8 per litre decrease in fuel prices
The price of gold increased by Rs600 per tola
Fitch upgrades Pakistan’s credit rating to ‘B-’ amid economic progress
The proposed increase represents a 7.49% rise from the Rs2,122 billion allocated in the current fiscal year (2024–25).
All transfer fees are to be deposited in the designated accounts specified by the Ministry of Finance.
The agreement was formalised during a ceremony held at a local hotel in Karachi,
Silver prices remained stable
Meanwhile, silver prices remained stable at Rs3,234 per tola.
Pakistan witnessed an unprecedented spike in gold prices on Friday,
Aurangzeb stated that the government achieved all targets set by the IMF.
Gas companies submitted request
The decision follows a formal petition filed by the Ministry of Energy last month as part of the government’s broader efforts to reduce consumer-end tariffs.
The move comes after national airline reported first profit in decades
Silver prices also increased
Global oil prices reduced
The tariff pause on countries other than China brought a bullish trend back into the KSE-100 index.
Silver prices also decreased
Finance ministry announced this
Director Research AKD Security Awais Ashraf linked the decline to concerns surrounding the tariff cut.
Several traders’ associations in Karachi decided to stage a demonstration to express their support for Palestinians.
