KARACHI, November 05 2024: The recent 250 basis point (bps) policy rate cut by Pakistan’s central bank, bringing the rate to 15%, marks a significant shift in the country’s economic strategy. This move, which goes beyond the market’s anticipated 120-150 bps reduction, aims to ease the government’s borrowing costs and is expected to have far-reaching…
KARACHI, October 31 2024: In a historic turn of events, Pakistan has reported a budget surplus for the first time since the second quarter of FY04, marking a significant milestone in the country’s fiscal management. Key Highlights of 1QFY25: Overall, these figures reflect a significant shift in Pakistan’s economic landscape, showcasing improved fiscal discipline and…
Karachi, June 15, 2020: Ismail Suttar, President of the Apex Body of Manufacturers, The Employers Federation of Pakistan (EFP), has said that the federal budget 2020-21 lacks out-of-the-box solutions to jumpstart economy, cut down costs of manufacturers, create jobs and incentivize exporters amid reduction in business orders. In a Statement, he said that broader policies…
Karachi, June 12, 2020: The federal government for the first time in the history has reduced budget estimates for the next fiscal year 2020-21 compared to estimates of last fiscal year (FY20) due to Coronavirus pandemic. According to budget documents available to thebizupdate.com, the total outlay of budget 2020-21 is estimated Rs 7,295 billion compare…
Karachi, June 08, 2020: Eminent economist Dr. Kaiser Bengali has feared that the federation may further squeeze financial resources of the provinces by further reducing their share in divisible poor and it may further empty pockets of individual tax payers by imposing heavy taxes in the forthcoming budget to be announced on 12th June. “Federal…