Finance Minister Muhammad Aurangzeb on Friday said that the government was committed to reducing the disproportionate tax burden on certain classes by widening the tax net. Speaking on the Geo News programme ‘Aaj Shahzeb Khanzada Kay Saath’ following the unveiling of a Rs18.8 trillion budget for the next fiscal year, Aurangzeb said: “Exporters, manufacturers, the IT sector, construction and […]

Prime Minister Shehbaz Sharif on Friday confirmed that a “final agreed-upon” text of the peace deal between Iran and the United States had been reached. A day prior, US President Donald Trump said the United States and Iran could sign a peace deal as soon as this weekend, which, if finalised, would be the most significant diplomatic breakthrough yet to end the months-old war. “We just made […]

The government on Friday reduced the price of petrol by Rs4 per litre and diesel by Rs2 per litre with immediate effect. Following the decrease, the price of petrol stands at Rs373.78 per litre and high-speed diesel (HSD) at Rs378.78, down from Rs377.78 and Rs380.78 per litre, respectively. The Petroleum Division’s notification announcing the decrease said the new prices would be effective from […]

ISLAMABAD: PPP Chairman Bilawal Bhutto Zardari on Friday welcomed Prime Minister Shehbaz Sharif’s statement regarding the formation of a government in Gilgit-Baltistan (GB) and expressed his gratitude. The PPP is all set to form a government in the region after it gained 11 out of 24 seats in the GB Legi­slative Assembly, according to the unofficial results (Form-47) of the June 7 elections. […]

ISLAMABAD: PTI, the main opposition party in the National Assembly, on Friday rejected the federal budget for FY2026-27, terming it a “refined exercise in elite self-preservation”. In an NA session earlier today, the federal government unveiled a Rs18.8 trillion budget for the upcoming fiscal year. In a statement, PTI Secretary Information Sheikh Waqas Akram said that even the Pakistan […]

Salient Features • GDP growth target set at 4pc; average inflation projected at 8.2pc • Income tax cut for those earning above Rs183,000 per month • Withholding tax on foreign debit/credit card transactions slashed from 5pc to 0.5pc • Taxes on sanitary pads, contraceptives completely withdrawn • Final Tax Regime for IT, freelance exporters extended for three years until FY30 • 7pc […]

As part of its budget proposals for the next fiscal year (FY26-27), the government has announced a range of measures to provide some measure of relief to the public, ranging from an expanded income support programme for the most vulnerable segment of the population, to lower taxes for individuals earning more than Rs183,000 a month. As part of its relief, subsidy and social safety plans, the […]

MUZAFFARABAD: The Poonch administration in Azad Jammu and Kashmir (AJK) is hopeful that the proscribed Joint Awami Action Committee (JAAC) protesters will disperse peacefully after a sizeable number of people gathered again after Friday prayers. The regional administration and the JAAC have been at odds over various issues, most notably the committee’s demand to abolish the 12 seats in the […]

The Pakistan Economic Survey arrives each June in two registers. The first is the press conference: growth is back, inflation has been beaten. The second is the statistical annex, which records, without adjectives, what actually happened—and this year it describes a stabilisation, real, hard-won, and worth defending. Except that it has so far fixed none of the things that made stabilisation […]

Facebook-parent Meta said on Friday that users were having trouble accessing the social media company’s services. “We’re aware people are currently having trouble accessing our services. We’re working on it,” the company’s spokesperson Andy Stone said in a post on X. There were more than 62,000 reports of issues with Facebook and more […]

Prime Minister Shehbaz Sharif on Friday stressed the importance of the country having “strong” security, as he spoke about the budget-making process. He made the remarks during a federal cabinet meeting that approved the budget, which is now expected to be tabled in the parliament. “Today, we are presenting the third budget of our government,” the premier noted. “There were definitely a […]

ISLAMABAD: The Supreme Court on Friday lifted the austerity measures it had imposed on March 10, 2026, due to disruptions in petroleum supplies amid the ongoing Iran-US conflict. On March 10, the apex court announced that the country’s courts would observe four-day work weeks. It further stated that the monthly ceiling of Petroleum, Oil and Lubricants (POL) allocated to judges and entitled […]

The federal budget for 2026–27 has brought the salaried class something it has rarely seen in recent years: a tax cut. In his budget speech, the finance minister has announced reduced income tax rates for salaried individuals earning between Rs2.2 million and Rs7 million a year, restructured the slabs from six to eight, and abolished the surcharge that currently applies to annual incomes above […]

Former senator Taj Muhammad Afridi passed away on Friday after his vehicle was involved in a fatal accident near Karnal Sher Khan Interchange on the M-1 motorway, police said in a statement. According to a statement by the Motorway Police, the former senator was travelling from Islamabad to Peshawar. It further said that upon receiving reports of the accident, the Motorway Police immediately […]

KARACHI: A delegation of the Muttahida Qaumi Movement-Pakistan (MQM-P) called on Prime Minister Shehbaz Sharif in Islamabad on Friday and discussed the budget for FY2026-27 and development projects for Sindh were discussed, according to the Prime Minister’s Office (PMO). A statement issued by the PMO said that the delegation was led by Dr. Khalid Maqbool Siddiqui, convener of the MQM and […]