Category: bussines

ISLAMABAD: Finance Minister Muhammad Aurangzeb on Wednesday addressed a post-budget press conference, outlining the government’s fiscal vision and priorities for the financial year 2025–26 (FY26). Speaking a day after unveiling the Rs17.57 trillion federal budget, the finance czar underscored the need to tie public and private sector pay structures to inflation benchmarks. “Whether it is the public or private sector, it must be aligned with some benchmark,” he said, adding that many countries peg salary and pension increases to inflation.     The session, held a day after the unveiling…

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A favourable tax tilt toward stocks helped fuel a major rally on the bourse Wednesday, after the new budget held capital gains tax steady and hiked rates on interest income. “Lower taxes on equity versus fixed income is a major trigger for PSX. This is just the beginning towards 150,000 in a year,” said independent investment and economic analyst AAH Soomro. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at at an all-time high of 124,352.68, up 2,328.24 points, or 1.91%, from the previous close of 122,024.44. Graph showing all-time high…

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Finance Minister Muhammad Aurangzeb has described Budget 2025–26 as a turning point aimed at overhauling Pakistan’s tax system, boosting enforcement without new taxes, and providing targeted relief to low-income earners. FinMin Aurangzeb presented the federal budget for fiscal year 2025–26 with a total outlay of Rs17.57 trillion, setting a 4.2% GDP growth target and announcing relief measures for the salaried class, while overall federal expenditure was slashed by 7%. Presenting the federal budget 2025-26 in the National Assembly, the finance minister highlighted that the budget for the upcoming fiscal year…

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ISLAMABAD: Minister for Finance and Revenue Muhammad Aurangzeb on Tuesday unveiled the Federal Budget 2025-26 with a total outlay of Rs17,573 billion. Addressing the budget session of the National Assembly, the finance czar said that the Higher Education Commission (HEC) would be given Rs39.5 billion for 170 projects, adding that this amount would help complete the ongoing projects. “An allocation of Rs4.8 billion has been made for 31 ongoing schemes in the domain of science and Technology,” he added. On the instructions of Prime Minister Shehbaz Sharif, he said that…

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Under the proposed Budget 2025–26, the government plans to bar non-filers from buying vehicles, acquiring property, and opening bank accounts, a move that could effectively lock them out of Pakistan’s financial system. Finance Minister Muhammad Aurangzeb announced the sweeping curbs during his budget speech in the National Assembly on Tuesday. He said only those who submit tax returns and wealth statements will be allowed to carry out key financial transactions. Non-filers may also be banned from investing in securities and mutual funds, a move designed to tighten the net around…

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The federal government on Tuesday proposed Rs2,550 billion spending for the defence sector for the upcoming Fiscal Year 2025-26, increasing it from Rs2,122 billion compared to the previous year. The finance minister presented the federal budget with a total outlay of Rs17.57 trillion, setting a 4.2% GDP growth target. Speaking on the floor of the National Assembly, the finance minister said that the country faced security challenges and the armed forces rendered commendable services for the security of the motherland. He was referring to the Indian aggression against Pakistan, which…

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The federal government has proposed a new carbon tax on petrol, high-speed diesel, and furnace oil in the federal budget for the next fiscal year. The move aimed to control excessive fuel consumption and generate revenue to protect the environment and green energy programmes. The proposed levy, which will initially stand at Rs2.5 per litre, is expected to come into effect for financial year 2025-26, increasing to Rs5 per litre in the financial year 2026-27. In May, the Petroleum Division (PD) formally submitted a summary to the Cabinet Committee for…

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An 18% tax on imported solar panels has been proposed in the federal budget for 2025–26, aimed at boosting local manufacturing and correcting market imbalances. Finance Minister Muhammad Aurangzeb, while presenting the budget, said the move was aimed at creating a level playing field between imported and locally produced solar panels. He added that the measure would play an important role in promoting Pakistan’s domestic solar industry, which has long struggled to compete with cheaper foreign alternatives. The minister said this proposal is part of a broader effort to fix…

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The new federal budget brings potential relief for salaried workers in Pakistan, with the government aiming to lighten the income tax load for middle- and high-income earners. Finance Minister Muhammad Aurangzeb, while presenting the federal budget for 2025–26 on Tuesday, said the Prime Minister Shehbaz Sharif had made it a priority to support salaried individuals, who have long shouldered a disproportionate share of taxes. In line with that, the government has proposed across-the-board cuts in income tax rates for the salaried class. The biggest relief targets taxpayers earning up to…

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ISLAMABAD: Prime Minister Shehbaz Sharif-led administration has proposed a 10% increase in salaries of federal government employees fro Grade 1 to 22. Speaking at the National Assembly floor during his budget speech for the Fiscal Year 2025-26, Finance Minister Muhammad Aurangzeb revealed the salary hike proposal along with a suggested 7% increase in pension of retired employees. Furthermore, the monthly allowance for differently abled employees was proposed to increase to Rs6,000 from the current Rs4,000 — reflecting an increase of Rs2,000. Expressing his views on the assembly floor, during a…

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