41 h. ago Islamic financing secured to scale up coal production in Tharparkar

KARACHI – Sindh Engro Coal Mining Company (SECMC) and Meezan Bank Limited signed an Islamic Facility Agreement to fund the

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3 d. ago Pakistan Software Export Board audit uncovers illegal transfers, hiring, and more

ISLAMABAD – A recent audit exposed financial mismanagement and illegal practices inside Pakistan Software Export Board (PSEB), the department responsible

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4 d. ago Strike suspended: Govt, traders reach agreement on section 37A

Traders across Pakistan have agreed to defer their planned nationwide strike for 30 days following successful talks with the federal government. The breakthrough came after the government promised to form a high-level committee to address concerns regarding Section 37A of the Finance Act 2025. Finance Minister Senator Muhammad Aurangzeb chaired the meeting in Islamabad, which […]

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9 d. ago Passengers kidnapped near Sardhaka as terror threat grows in Balochistan

The Balochistan government confirmed on Thursday that several passengers were kidnapped near Sardhaka, an area already under stress from rising militant activity. According to government spokesperson Shahid Rind, the kidnapping occurred during a fresh wave of coordinated attacks in Quetta, Kalat, Mastung, and Sardhaka. Security forces have launched a full-scale search and rescue operation in […]

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9 d. ago Aurangzeb urges swift action on population surge and climate crisis

ISLAMABAD – Finance Minister Muhammad Aurangzeb on Thursday underscored the urgent need to tackle population growth and climate change, calling them two of the biggest threats to Pakistan’s future. Speaking at a World Population Day event hosted by the Ministry of National Health Services, he stressed that unchecked population growth was putting immense pressure on […]

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1 week ago Aurangzeb pushes for swift launch of PM’s fan replacement initiative

Finance Minister Senator Muhammad Aurangzeb has directed all departments to fast-track preparations for the Prime Minister’s Fan Replacement Program, which aims to replace traditional electric fans with energy-efficient models across the country. The program is expected to launch its first phase by the end of this month. Chairing a high-level meeting in Islamabad, the Finance […]

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2 w. ago PM Shehbaz celebrates historic 42% tax revenue growth, pushes for digital reforms

ISLAMABAD – Prime Minister Shehbaz Sharif on Wednesday lauded the Ministry of Finance and the Federal Board of Revenue (FBR) for achieving a record 42% rise in federal tax revenue during FY 2024–25 — the highest in a decade. While chairing a high-level meeting to review FBR’s digitization and reform progress, the prime minister was […]

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2 w. ago Pakistan steps up in global development talks at Spain conference

ISLAMABAD – Federal Finance Minister Senator Muhammad Aurangzeb has departed for Seville, Spain, to attend the Fourth International Conference on Financing for Development (FFD4), taking place from July 1 to 3, 2025. The global event will bring together world leaders and economic experts to develop new strategies for sustainable finance, especially for countries pursuing the […]

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3 w. ago ACE Money Transfer CEO meets ministers to advance legal remittance, financial digitization

Mr Rashid Ashraf, Chief Executive Officer of ACE Money Transfer, conducted a series of strategic meetings in Islamabad with the Honorable Finance Minister, Mr. Muhammad Aurangzeb, and other senior government officials to discuss collaborative efforts aimed at strengthening Pakistan’s Financial infrastructure and enhancing formal remittance inflows. A key focus of discussion was the development of […]

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3 w. ago ACE Money Transfer CEO Meets Senior Ministers to Advance Legal Remittance and Financial Digitization

Islamabad – June 26, 2025 — Mr. Rashid Ashraf, Chief Executive Officer of ACE Money Transfer, conducted a series of strategic meetings in Islamabad with the Honorable Finance Minister, Mr. Muhammad Aurangzeb, and other senior government officials to discuss collaborative efforts aimed at strengthening Pakistan’s Financial infrastructure and enhancing formal remittance inflows. A key focus […]

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3 w. ago SOE losses, pension liabilities cross Rs7.5 trillion, exceeding defence and development budgets

ISLAMABAD – Pakistan’s state-owned enterprises (SOEs) continue to bleed financially, with total accumulated losses and unfunded pension liabilities now crossing Rs7.5 trillion. This amount is nearly three times the defence budget and over seven times the national development budget for the current fiscal year. The Ministry of Finance revealed these alarming figures during a meeting […]

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3 w. ago Pakistan’s national assembly passes budget for 2025–26 with amendments

The National Assembly of Pakistan has passed the federal budget for the upcoming fiscal year 2025–26. The approval came after several days of debate, discussions, and review by lawmakers during a special session held in Islamabad. Members of the assembly approved the Finance Bill 2025 through a clause-by-clause voting process, making it the official budget […]

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3 w. ago Finance bill 2025: Cabinet meeting called under PM Shehbaz’s leadership

The federal cabinet will hold a crucial meeting tomorrow (June 26, 2025) to review and approve the new Finance Amendment Bill for the upcoming fiscal year. The meeting will be chaired by Prime Minister Shehbaz Sharif and is scheduled to begin at 10:30 AM at the Parliament House in Islamabad. Finance Minister Senator Muhammad Aurangzeb […]

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3 w. ago FinMin unveils FBR new reforms, says no arrest without warrant in tax cases below Rs50m

ISLAMABAD – Finance Minister Muhammad Aurangzeb said that as part of the new reforms of the Federal Board of Revenue

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4 w. ago Parliamentary committee approves further tax relief for salaried class

ISLAMABAD – June 21, 2025: The National Assembly’s Standing Committee on Finance has approved a major tax relief proposal for the salaried class, reducing the income tax rate on mid-level earners. In a meeting chaired by MNA Syed Naveed Qamar, the committee reviewed and gave clause-by-clause approval to key income tax amendments included in the […]

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4 w. ago Govt signs $4.5bn loans with local banks to ease power sector debt

The government has signed term sheets with 18 commercial banks for a Rs1.275 trillion Islamic finance facility to help pay off the mounting debt in its power sector, Power Minister Awais Leghari said on Friday. The government, which owns or controls much of the power infrastructure, is grappling with ballooning circular debt, unpaid bills and […]

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4 w. ago Govt secures Rs1.275 trillion Islamic loan to ease power sector debt

The Government of Pakistan has signed a major financial deal worth Rs1.275 trillion ($4.5 billion) with 18 commercial banks to reduce the country’s mounting power sector debt. The financing, based on Islamic principles, comes at a critical time when the sector is weighed down by unpaid bills, subsidies, and liquidity shortages. These issues have not […]

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4 w. ago Government Signs $4.5 Billion Loans With Local Banks To Ease Power Sector Debt

Pakistan has signed term sheets with 18 commercial banks for a 1.275 trillion Pakistani rupee ($4.50 billion) Islamic finance facility to help pay down mounting debt in its power sector, government officials said on Friday. The government, which owns or controls much of the power infrastructure, is grappling with ballooning “circular debt”, unpaid bills and […]

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4 w. ago No more amnesty schemes as govt shifts focus to widening tax net: Finance Minister

ISLAMABAD – Finance Minister Muhammad Aurangzeb has made it clear that the upcoming federal budget will not include any tax amnesty schemes. He stated that the era of tax exemptions and reliefs for tax evaders is over, as the government now aims to expand the tax net and improve transparency in the system. During a […]

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