ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday presented his first federal budget with a total outlay of Rs18.9 trillion, which analysts say is broadly “in line with IMF guidelines”. Pakistan’s budget for the upcoming year aims for a modest 3.6 per cent GDP growth, and sets an ambitious Rs13tr tax collection target, raising taxes on salaried classes and removing tax …
ISLAMABAD: The Islamabad High Court (IHC) on Tuesday issued a notice to the complainant and prosecution on a petition seeking the suspension of the sentence of former prime minister Imran Khan and his spouse Bushra Bibi in Iddat case. The couple were convicted by a senior civil judge on Feb 3 for contracting marriage during Ms Bibi’s Iddat period. They were sentenced for …
ISLAMABAD: The Supreme Court (SC) on Tuesday ordered the relocation of restaurants out of the National Park Area within a period of three months, including the most frequented eatery Monal, perched atop picturesque Margalla Hills. Headed by Chief Justice of Pakistan (CJP) Qazi Faez Isa, a three-judge Supreme Court had taken up an appeal against the Jan 11, 2022 judgement of the …
ISLAMABAD: Cash-strapped Pakistan witnessed the highest-ever single-year increase in tax exemptions or concessions, surging by 73.24 per cent or Rs1.64 trillion in the outgoing fiscal year. The Pakistan Economic Survey 2023-24, released by Finance Minister Muhammad Aurangzeb on Tuesday, showed that the Federal Board of Revenue (FBR) doled out a record Rs3.879tr in FY24 compared to Rs2.239tr in FY23. The cost …
LAHORE: Lahore High Court (LHC) has linked any proceedings under Punjab’s new defamation law to its final verdict on the petition challenging the law. During the hearing on Tuesday, LHC’s Justice Muhammad Amjad Rafiq also issued notices to the attorney general, Punjab advocate general, and the provincial government to submit their replies. The court was hearing challenges to the Punjab Defamation Act 2024 filed by journalists …
ISLAMABAD: Just a day before the announcement of the federal budget 2024-25, Pakistan Peoples Party — a major partner in the ruling coalition — has blamed the PML-N government for not taking PPP’s input at all while preparing the annual budget and wondered if it still wanted the ally’s support. The PPP expressed its reservations in its parliamentary committee meeting, which was …
ISLAMABAD: The government and the opposition traded barbs on Tuesday in the Senate over distribution of standing committees, with the opposition threatening to boycott the committees and the government insisting that the committees would function even without the opposition. As the house met here hours after election of Senators Saleem Mandviwala and Quratulain Marri, both from the PPP, as chairpersons of …
ISLAMABAD: In an apparent U-turn from its earlier assertions that the former ruling party would only talk to ‘empowered’ stakeholders and not the ‘toothless ruling’ coalition, PTI founder Imran Khan on Tuesday ordered the party’s top brass to reach out to the government for a dialogue to end the political impasse. The change of heart came in light of remarks …
ISLAMABAD: The Islamabad High Court (IHC) on Tuesday suspended the decision of the Election Commission of Pakistan (ECP) to transfer election petitions related to the federal capital, from an IHC bench to a tribunal led by a retired judge. Chief Justice Aamar Farooq, while hearing the petitions of the PTI runner-up candidates from Islamabad — Shoaib Shaheen, Mohammad Ali Bukhari, and Amir …
ISLAMABAD: Pakistan’s economy failed to meet most of its targets set in the previous budget due to challenging conditions, but the agriculture sector achieved unprecedented growth, Finance Minister Muhammad Aurangzeb announced on Tuesday while unveiling the Pakistan Economic Survey (PES) 2023-24. The strong 6.25pc expansion in the agriculture sector — said by the report to be the highest in 19 years — drove Pakistan’s …