Articles for tag: Budget, continues, deficit, PSX, rally, Rally Record continues as PSX gets the slogan from low budget deficit, record, slogan

August 5, 2025

Rally Record continues as PSX gets the slogan from low budget deficit

Listen to the article Karachi: The Pakistan Stock Exchange (PSX) continued the Rally’s record on Tuesday, with the KSE-100 reference index rising 985 points to close at a high level of 143,037. The increase was fueled by powerful local and foreign inflows, broad profit in key areas and positive tax data. Pakistan’s fiscal balance has improved sharply for FY25, recording a 5.38%deficit, the lowest in nine years. It enhanced investor confidence and increased optimism for the rest of the week. In its revision, Topline Securities noted that the Bulls continued to charge ahead as the KSE-100 index hit another high

March 6, 2025

News Desk

Business

IMF expects RS490BN deficit in FBR revenue

The logo of the International Monetary Fund is observed within the headquarters of Washington, USA, October 9, 2016. – Reuters The tobacco industry urges the IMF to reduce the team. Illegal trade of cigarettes causing an annual loss of RS300BN. The pending FBR cases will boost tax collection. ISLAMABAD: The International Monetary Fund (IMF) has promoted an annual tax target of $ 490 billion in the annual target of the Federal Board of Directors (FBR), estimating revenue for the revenue of 12,480 billion RS12. This evaluation puts the government at a hard point, demanding either cost cuts or fresh tax

March 1, 2025

News Desk

Business

FBR Looking over RS600BN tax deficit in front of IMF review

A representation picture showing the FBR logo. – FBR file/file FBR collects RS7,343BN against the RS7,947BN target in eight months. Agreement with IMF provisions RS9,168 billion by 31 March. The tax body must Collect RS1,825 billion in the ongoing month. Islamabad: With the government led by Prime Minister Shehbaz Sharif, which is considering the first International Financial Fund (IMF) review of the loan program, the Federal Revenue Office (FBR) looks at a surprising tax deficits of RS604 billions in current use, The news reported on Saturday. With the target of the 9,168 billion RS agreed with the IMF for March

February 8, 2025

News Desk

Business

Pakistan budget surplus is converted into a deficit of Rs1.54TR

A trader counts Pakistani rupees on a currency exchange stand in Peshawar. – Reuters/file Balance files of the budget files of RS0.43TR. The country’s fiscal accounts remain incompatible. The budget deficit amounts to 1.2% of Pakistan’s GDP. Islamabad: Pakistan’s overall budget has been converted by a surplus into a RS1.54 trillion deficit, 1.2% of gross domestic product (GDP), with a statistical discrepancy of RS0.43 trillion, The news reported on Saturday. The country’s total tax balance was converted by a total surplus in the first quarter (July-September) into a deficit for the first six months (July-Dec) of current use just before

December 31, 2024

News Desk

Business

The government faces a possible deficit of up to 90 billion. In December Rs

A worker bends down as he carries bundles of cloth on his back to deliver to a nearby store in a market in Karachi on June 24, 2022. — Reuters FBR expects Rs 70 billion in taxes from the banking sector by December 31. It is supposed to collect 6.009 billion. Rs by the end of the current month. The tax authority faces a deficit of 340 billion. In the first five months Rs. ISLAMABAD: Amid measures aimed at boosting revenue generation and expanding the tax net, the federal government’s fiscal target for December 2024 is likely to face a

November 2, 2024

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Business

Pakistan’s economy is showing resilience as the trade deficit narrows significantly

Pakistan Navy personnel stand guard near a ship carrying containers at the port of Gwadar, about 700 kilometers west of Karachi, during the launch ceremony of a pilot trade program between Pakistan and China on November 13, 2016. — AFP The monthly shortfall also fell by 17.7%, from $1.82 billion. Exports showed strong monthly growth, increasing by 10.64%. October figures show a significant decline in imports. ISLAMABAD: In a remarkable turnaround that demonstrates the economy’s resilience, Pakistan’s trade deficit shrank significantly, falling 31.1% year-on-year in October 2024. The deficit shrank to $1.5 billion, a significant drop from $2.17 billion in

September 2, 2024

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Business

FBR blames Rs102b deficit on low imports

Islamabad: The Federal Board of Revenue (FBR) missed its August collection target by a margin of Rs 102 billion, despite advances. Now, he blames the squeeze on imports for the large deficit that has raised the prospect of a mini-budget. The FBR on Sunday released a statement to explain the reasons behind the huge shortfall in tax revenue. “A cumulative growth of nearly 35% has been achieved in domestic tax collection – on the import side, the momentum could not be sustained due to continued import compression,” the statement said. It added that in US dollar terms, imports into the

August 20, 2024

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Business

C/A deficit hits $162 million in July

KARACHI: Pakistan posted a current account deficit (CAD) of $162 million in the first month (July) of the current financial year 2024-25, slightly exceeding market expectations and the last 12-month average, but still well within the target range. The current account deficit has arisen due to increased imports of goods to support economic activities and apparent increased repatriation of profits and dividends by foreign companies operating in Pakistan to their headquarters abroad. However, strong inflows of workers’ remittances sent by Pakistanis abroad and a rise in export earnings, led by technology exports, partially offset the shortfall, narrowing it to $162

August 2, 2024

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Business

AMS allowed imports to bridge the deficit

As a net importer of both crude oil and refined products, Pakistan does not have enough feedstock to feed refineries and therefore crude oil has to be imported to utilize refining capacity, industry experts say while responding to a report that Pakistan State Oil (PSO) has lost 5% of its market share to Gas & Oil Pakistan Limited (GO). They alleged that refineries are unable to produce enough petrol and diesel to meet the country’s needs, further leading to importation of refined products by the oil marketing companies (OMCs). Pakistan has a well-established system of ascertainment of crude oil and

July 3, 2024

News Desk

Business

Trade deficit narrows 12.3% to $24.09bn in 24th year as exports rise

A representational image of containers. — Reuters/File Total exports increase by 10.54%, reaching 30.645 billion dollars. Economists attribute the decline to sluggish economic growth. The resilience of the trade deficit has weighed on the Pakistani rupee. Islamabad: Pakistan’s trade deficit shrank by 12.3 percent in 2024 to $24.09 billion from $27.47 billion in FY23, according to data released by the Pakistan Bureau of Statistics (PBS) on Tuesday. During July 2023-June 2024, total exports, however, increased by 10.54% to $30.645 billion, while imports contracted by 0.84% to $54.73 billion. In June 2024, Pakistan’s exports of goods abroad increased by 7.3% to

Rally Record continues as PSX gets the slogan from low budget deficit

IMF expects RS490BN deficit in FBR revenue

FBR Looking over RS600BN tax deficit in front of IMF review

Pakistan budget surplus is converted into a deficit of Rs1.54TR

The government faces a possible deficit of up to 90 billion. In December Rs

Pakistan’s economy is showing resilience as the trade deficit narrows significantly

FBR blames Rs102b deficit on low imports

C/A deficit hits $162 million in July

AMS allowed imports to bridge the deficit

Trade deficit narrows 12.3% to $24.09bn in 24th year as exports rise

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