ISLAMABAD: The federal government has informed the International Monetary Fund (IMF) about a plan to recover more than Rs110 billion in outstanding power-sector dues from provincial governments by adjusting the amount against their shares under the National Finance Commission (NFC) award. The proposal was discussed during recent talks with the IMF, which raised concerns about…
The Federal Board of Revenue (FBR) has extended the deadline for filing income tax returns for Tax Year 2026 to October 15, 2026. The original deadline for taxpayers required to submit their income tax returns was September 30, 2026. The extension was announced by the FBR following requests from various trade organisations and tax bar…
ISLAMABAD: A recent survey has found that 91% of Pakistanis consider doing business in the country difficult, with respondents identifying taxation, limited access to financing, energy costs, regulations and corruption among the major challenges facing businesses. According to the survey conducted by the Institute of Public Opinion Research (IPOR), the complicated tax system emerged as…
The government has decided to allow the export of an additional 200,000 metric tonnes of sugar, citing sufficient domestic stocks and improved production. The decision was taken by a sugar steering committee chaired by Deputy Prime Minister Ishaq Dar and will now be presented to the Economic Coordination Committee (ECC) for formal approval. The latest…
per litre, providing partial relief to consumers following a decline in international oil prices. The revised fuel prices came into effect immediately and will remain applicable until July 10, 2026. According to the official notification, the ex-depot price of petrol has been reduced from Rs299.50 to Rs297.53 per litre, while the price of high-speed diesel…
Govt Proposes New Industrial Power Tariff to Reduce Shift Towards Solar Energy ISLAMABAD – The federal government has proposed a new industrial electricity tariff structure aimed at encouraging factories and businesses to consume more power from the national grid while discouraging a growing shift toward solar energy and other off-grid alternatives. The proposal, which has…
Pakistan’s Petroleum Division has proposed major relief measures for fuel consumers in its recommendations for the federal budget 2026-27, including reducing the petroleum levy target to Rs1 trillion and lowering the levy on petrol and diesel to Rs50 per litre while international oil prices remain high. According to reports, the recommendations have been submitted to…
The International Monetary Fund has called on Pakistan to strengthen transparency and autonomy within the National Accountability Bureau as part of ongoing governance reforms. According to the IMF’s latest staff report, Pakistan is required to amend the NAB Ordinance by January 2027 to improve the process for appointing the NAB chairman and to ensure greater…
The Pakistan Stock Exchange witnessed a notable decline this week as the benchmark KSE-100 index dropped 3.2%, closing at 165,596 points. The downturn was largely driven by uncertainty surrounding the progress of US-Iran peace negotiations, which negatively impacted investor sentiment. Throughout the week, the market showed consistent volatility. The KSE-100 index lost a total of…
The government of Pakistan is planning significant income tax cuts for salaried individuals and companies as part of the upcoming fiscal budget, with discussions currently underway with the International Monetary Fund (IMF). According to official proposals shared with the IMF, the government aims to provide relief to taxpayers by lowering income tax rates across multiple…
