The Economic Coordination Committee (ECC) of the Cabinet on Tuesday approved a financial bailout for Pakistan Television (PTV), a recovery plan for Rs47 billion in outstanding petroleum levy from Cynergico Refinery, and the use of funds collected under the captive levy on gas to reduce electricity rates for all consumers. The committee also gave the green light to the construction of the Multan
Prime Minister Shehbaz Sharif has directed the Federal Board of Revenue (FBR) to implement a faceless, technology-driven customs inspection and valuation system aimed at curbing corruption, facilitating trade, and improving revenue collection. Chairing a meeting on Tuesday to review ongoing reforms in customs assessment and inspection, the prime minister stressed the need to align the system wi
The Awami National Party has rejected the terms of reference for the 11th National Finance Commission, declaring them against the financial rights of provinces. In a statement issued here on Tuesday, ANP provincial president Mian Iftikhar Hussain said the move was an attempt to undermine the financial autonomy of the provinces granted under the 18th Amendment. He said the new NFC ToRs were n
Outstanding auto loans rose to Rs285.6 billion in July, up from Rs276.6bn in June, marking the eighth consecutive month of growth, according to data released by the State Bank of Pakistan (SBP). While the trend is positive, the current level remains well below the all-time high of Rs368bn recorded in June 2022. Industry experts attribute the uptick in auto financing to improved consumer sentim
The Public Accounts Committee (PAC) on Tuesday expressed shock over reports that the chairman of the Securities and Exchange Commission of Pakistan (SECP) was drawing an annual salary of Rs41 million. PAC Chairman Junaid Akbar Khan questioned how a country facing economic hardships could afford such packages. “Is the board free to fix salaries at its own discretion without seeking a