Public finance
Pakistani lawmakers have welcomed the latest federal budget, with Parliamentary Secretary Muhammad Hassaan Riaz terming it a "true pro-poor" financial plan. The budget has been hailed as relief-oriented, particularly for government employees, who have been granted a 10 per cent salary increase and reduced income tax on salaries.
Public finance
In a move to promote local manufacturing and reduce reliance on imports, the Pakistani government has announced sweeping cuts in duties and taxes on raw materials and components used in local solar panel and battery production. Despite imposing an 18 percent Sales Tax on Imported units, solar energy prices in
Public finance
The proposed federal budget for fiscal year 2025-26 has introduced significant changes aimed at tightening the tax regime and curbing financial irregularities. The Federal Board of Revenue (FBR) has been granted powers akin to those of a Station House Officer (SHO), enabling it to conduct inspections of chartered accountancy and
Public finance
In the face of Republican infighting in Tallahassee, Floridians are left to fend for themselves as hurricane season gets underway, with no immediate sales tax holidays for essential supplies. Previous sales tax holidays have saved families over $70 million, which could have been used to offset rising costs and motivate
Public finance
The federal government has allocated Rs354.81 billion to State-Owned Enterprises (SOEs) for FY2025-26, representing an 80.3% increase from Rs196.83 billion last year. This substantial allocation is part of the Public Sector Development Programme (PSDP) and aims to support key SOEs in infrastructure, transport, energy, and financial services
Public finance
The Pakistan Muslim League-Nawaz (PML-N) Lawyers Forum Punjab has welcomed the federal budget for the fiscal year 2025-26, describing it as balanced and people-friendly. According to the forum, the budgetary measures will help stabilize the national economy and steer it onto a path of long-term development. The allocations made under
Public finance
Employee and pensioner associations from across the country have vehemently rejected the new federal budget, labeling it a "traditional charade of words." The budget is seen as a step towards a stormy increase in inflation, pushing almost 50% of families below the poverty line. The associations, including the
Public finance
Government employees from various ministries, divisions, and departments staged a strong protest in front of the Pak Secretariat, voicing their dissatisfaction over what they called a 'meagre' salary increase. The protest was organized under the banner of the All Government Employees Grand Alliance (AGEGA), led by its Chief
Public finance
The Pakistan Mazdoor Kisan Party (PMKP) has rejected the federal budget for the next fiscal year, labeling it "anti-people" and criticizing the government's economic policies that disproportionately affect the working class. The party's central chairman, Afzal Shah Khamosh, has announced support for the government
Public finance
The Pakistan government has unveiled a proposal to boost the salaries of government employees by 10% and increase the pension of retirees by 7% as part of its upcoming budget for the Fiscal Year 2025-26. The federal finance minister, Muhammad Aurangzeb, made the announcement during his National Assembly budget speech,
Public finance
The Pakistan government has unveiled sweeping tax reforms in the federal budget 2025-26, aiming to balance sectoral relief, expand tax scope, and achieve equitable burden-sharing. The reforms offer tax cuts of up to 80% for low-income salaried individuals while limiting relief for higher earners to just 3%. A new 5%
Public finance
The new federal budget presented by Finance Minister Muhammad Aurangzeb aims to alleviate the income tax burden for middle- and high-income earners in Pakistan, with a focus on supporting salaried individuals. The budget also allocates a significant increase in defence expenditure, citing the recent conflict with India. Additionally, the government
