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 11, 2020: The FY20(P) GDP growth is estimated at -0.38 percent vs. 1.91 percent last year. In a question to the Finance Minister, he answered that the disparity between the government and IFIs (IMF: -1.5 percent, WB: -2.6 percent) forecasts is due to fluidity of the situation at present. Agriculture sector recorded a…
Karachi, December 11, 2019: Overseas Pakistani workers remitted $9.298.57 billion in the first five months (July to November) of FY20 compared with $9.281.94 billion received during the same period in the preceding year. During November 2019, the inflow of workers’ remittances amounted to $1.819.66 billion, which is 9.05 percent lower than October 2019 and 9.35…
Islamabad, June 11, 2019: Federal Budget with a total outlay of 7022 billion rupees for the next fiscal year, containing relief for the poor and measures for economic stabilization and fiscal discipline, has been announced. Minister of State for Finance Hammad Azhar presented the budgetary proposals in the National Assembly on Tuesday evening. The resource…