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PAKISTAN ECONOMY NEWS

How IMF has forced Pakistan to reform its farm sector

May 31, 2025 12:06 pm

Pakistan has dispensed with MSP procurement, decided to wind up its FCI-equivalent state agency and removed tax exemption on agriculture incomes – all under IMF pressure.

Addressing a press conference, Aurangzeb said he understood that the salaried class was particularly experiencing financial strain from new taxes.

Pak has lost ‘credibility' as it struggles to achieve economic stability: Finance Minister Aurangzeb

February 20, 2025 11:44 pm

Aurangzeb also announced a major shift in tax policy, stating that the Finance Ministry will now oversee tax policy, while the Federal Board of Revenue will focus solely on tax collection.

Pakistan govt abolishes 150,000 jobs as cost-cutting measure

January 07, 2025 10:42 pm

According to the minister, the committee was to look into 43 ministries and their subordinate agencies. He said that the federal government's annual expenditure on these departments was Rs900 billion.

Pakistan’s economic crisis: Will the IMF’s $7-billion bailout stabilise the economy, stem the youth exodus?

December 17, 2024 10:12 am

This year so far, Pakistan has achieved $3.2 billion of IT exports with a growth of 24 per cent from the previous fiscal.

Why Pakistan needed another bailout from IMF, what this will entail

September 27, 2024 11:41 am

Pakistan Prime Minister Shebaz Sharif thanked IMF chief Kristalina Georgieva for the 37-month loan programme, the twenty-fifth such programme in Pakistan’s history, and the sixth under the current borrowing framework.

On Pakistan’s Independence Day, hope for the future in an Olympic gold

August 14, 2024 10:02 pm

As the country completes 77 years of freedom, the Pakistani press discusses the political, economic and social challenges that remain

Pakistan has met all requirements for IMF bailout deal, finance official says

July 03, 2024 6:11 pm

The South Asian country has set challenging revenue targets in its annual budget to help it win approval from the IMF for a loan to stave off another economic meltdown, even as domestic anger rises at new taxation measures.

Pakistan is in talks with the IMF for a loan of $6 billion to $8 billion. (Representational Photo / Reuters)

Pakistan to pass tax-laden budget ahead of fresh IMF loan

June 28, 2024 5:11 pm

The rise in the tax target is made up of a 48% increase in direct taxes and a 35% hike in indirect taxes over revised estimates of the current year. Non-tax revenue, including petroleum levies, is seen increasing by a whopping 64%.

In this photo released by the Pakistan Finance Ministry Press Service, Pakistan's Finance Minister Muhammad Aurangzeb speaks and parented, the Federal Budget before the National Assembly of Pakistan, in Islamabad, Pakistan, Wednesday, June. 12, 2024. Pakistan's new gov't presents its first budget in Parliament as it seeks new long-term IMF bailout. (Pakistan Foreign Ministry Press Service via AP)

Will Pakistan's new budget help the country's poorest?

June 14, 2024 12:02 am

As Pakistan grapples with the rising costs of basic necessities, the government's new budget proposal includes a salary increase for government employees.

Pakistan GDP growth 2023-24, Economic Survey of Pakistan,

Pakistan missed GDP growth target; achieves 2.38% against envisaged 3.5% in FY 2023-24: Economic Survey

June 11, 2024 10:51 pm

The Economic Survey of Pakistan 2023-24, a pre-budget document detailing the country's major socio-economic achievements during the outgoing fiscal year, was launched by Finance Minister Muhammad Aurangzeb at a press conference.