Pakistan

Pakistan government is expected to introduce new taxes worth up to Rs700bn in the budget 2025-26, to be presented later in the day.

Finance Minister Muhammad Aurangzeb on Wednesday presented a Rs17.

The sixth round of Iran-US nuclear talks is planned for Sunday, Tehran said as the two sides appear locked in a standoff over uranium enrichment nearly two months into the high-stakes negotiations. Iran has said it would present a counter-proposal to the latest draft from Washington, criticised by Tehran for failing to offer sanctions relief in return for curbs on its nuclear programme. “The next round of Iran-US indirect talks is being planned for next Sunday in Muscat,” Iranian foreign ministry spokesperson Esmaeil Baqaei said in a statement on Tuesday. There was no immediate comment from mediator Oman, which has hosted some of the previous rounds, while Washington has said the talks could be held as early as Thursday. The longtime foes have held five rounds of negotiations since April, the highest level contact since President Donald Trump withdrew Washington from a 2015 nuclear accord during his first term. Trump has said the next meeting was expected on Thursday, although a source familiar with preparati...

Finance Minister Muhammad Aurangzeb presented the budget for the fiscal year 2025-2026 in the National Assembly on Tuesday. Under the watchful eye of the International Monetary Fund, the government projected growth of 4.2 per cent and set an ambitious tax collection target at Rs14,131 billion, an 8.95pc increase from last year’s goal. The government had earlier promised relief for the salaried class in the next fiscal year. Use the calculator to ascertain how much you will be paying in taxes for the FY25-26.

• Many goods, services will now be taxed at higher rates • Lower rates for digital payments versus cash transactions set to replace distinction between filers, non-filers • Some relief expected for salaried persons earning around Rs100,000 per month ISLAMABAD: Facing limited room for fresh tax measures, the Shehbaz Sharif-led coalition government has resorted to rebranding taxation — shifting from “broadening the tax base” to pursuing “equity” — in an effort to justify higher taxes on lower-income segments. This transition comes as the government eyes a record revenue target of nearly Rs14 trillion for FY26, a 22 per cent increase over projections for the outgoing fiscal year. Tied to its commitments under the International Monetary Fund (IMF) programme, the government estimates autonomous revenue collection at Rs12.845tr, based on 4.2pc GDP growth and 7.5pc inflation. To meet the ambitious target, the government will need an additional Rs655 billion in new tax measures and another Rs400bn through enforcement...

LAHORE: Although the country’s total installed power generation capacity is set to rise to 46,605 megawatts in the outgoing fiscal year (FY25), substantial capacity payments to idle power plants continue to burden electricity consumers nationwide. However, energy experts in both the public and private sectors remain optimistic that this capacity payment burden — estimated at Rs12 to Rs15 per unit and passed on to consumers — will gradually decline, as the government has halted new power projects and terminated power purchase agreements (PPAs) with several independent power producers (IPPs). “The issue of capacity payments is not considered very painful during summer, but it becomes more significant in winter when our total electricity demand drops to just 12,000-13,000 MW,” a senior official at the Ministry of Energy told Dawn on Monday. According to the Economic Survey, the country’s total installed electricity generation capacity reached 46,605MW, with the energy mix comprising hydel (24.4 per cent), therma...

ISLAMABAD: The cumulative expenditure on education by the federation and the provinces remained merely 0.8 per cent of the Grand Domestic Product (GDP) while the country’s literacy rate was a little above 60 per cent, according to the Economic Survey of Pakistan 2024-25. The segregated data showed that the literacy rate was 60.6pc, with men at 68pc compared to 52.8pc among women. During the first three quarters of the ongoing financial year, the education-related spending decreased 29.4 per cent, dropping to Rs899.6 billion from Rs1,251.06 billion. The position may increase by June as the expenditure data is only available for July-March, said the survey. The cumulative education expenditures by the federal and provincial governments in FY 2025 were estimated at 0.8pc of the GDP compared to 0.9pc in the health sector. In the development budget for this financial year, Rs92.1 billion were earmarked for the education sector, including higher education. The Ministry of Federal Education and Professional Training...

Finance minister says country’s economy grew 2.

COAS Syed Asim Munir visits forward positions along LOC, celebrates Eidul Azha with troops You have befittingly avenged loss of lives of innocent Pakistani civilians during war with India.

ISLAMABAD - The coalition government led by Pakistan Muslim League-Nawaz (PML-N) will present its second federal budget for the fiscal year 2025-26, with an estimated outlay of around Rs18 trillion, today (Tuesday).

LAHORE - Prime Minister Shahbaz Sharif made phone calls to heads of governments and states of a number of Muslim countries on Eid ul Azha to exchange Eid greetings and conveyed well wishes for their prosperity and wellbeing.

LAHORE - Punjab Chief Minister Maryam Nawaz Sharif has directed the immediate registration of all unregistered restaurants and marriage halls across the province as part of a broader push to expand the tax net without burdening the general public.

ISLAMABAD - President Asif Ali Zardari on Monday, citing the country’s vast potential for development, called for concerted efforts to build a robust and self-reliant national economy.

First Lady and MNA Aseefa Bhutto-Zardari has condemned the murder of teenage social media influencer Sana Yousaf in Islamabad, who was gunned down on the eve of her 17th birthday last week, saying that the incident should not silence girls and discourage from trying to achieve their dreams. Sana Yousaf was shot dead at her residence in Sector G-13 in the presence of her mother and aunt by an unidentified man who fled the scene. Police arrested the suspect Omar Hayat within a few hours who police claimed murdered Sana because she repeatedly refused his advances. Inspector General Syed Ali Nasir Rizvi said the suspect was arrested from Faisalabad within 20 hours of the incident. A local court approved a 14-day judicial remand of the prime suspect to facilitate his identification parade. Calling it a stark reminder of the violence women and girls face simply for asserting their rights, Aseefa extended her condolences to Sana’s family, the community in Chitral, and all those grieving this senseless loss. “Sana wa...

Pakistan Tehreek-e-Insaf (PTI) has announced its intention to strongly oppose the upcoming federal budget through both parliamentary and public protests.

ISLAMABAD - The per capita income increased by 9.

The Senate is scheduled to meet today (Tuesday) at 6:00 pm at the Parliament House, with an eight-point agenda set for discussion.

ISLAMABAD - In a significant development for Pakistan’s revenue collection efforts, the Islamabad High Court (IHC) has vacated stay orders in 270 tax-related cases over the past few months.

Chief Justice of Pakistan (CJP) Yahya Afridi met with Sheikh Dr.

Khyber Pakhtunkhwa Adviser on Information, Barrister Dr.