ISLAMABAD, June 11(ABC): The coalition government unveiled the “toughest” federal budget for the next fiscal year 2022-23 with an outlay of Rs9.5 trillion as it seeks to fulfil the International Monetary Fund’s (IMF) conditions, but PTI, the main Opposition party, has rejected the finance bill and called it an “unimaginative, Purana Pakistan budget”. The federal government unveiled the budget amid …

ISLAMABAD, June 11(ABC): Finance Minister Miftah Ismail Friday presented a “progressive and relief-oriented” budget for the fiscal year 2022-23, with a total outlay of Rs9.502 trillion to “stabilise” the economy. The proposed budget focused on fiscal consolidation to curtail overall deficit, prioritising practical austerity measures along with strategies to enhance tax-to-GDP (gross domestic product) ratio, reduce gross public debt, slice …

ISLAMABAD, June 10(ABC): The Shehbaz Sharif-led coalition government is unveiling the “toughest” federal budget for the next fiscal year 2022-23 in the National Assembly with an outlay of Rs9.5 trillion amid strict conditions of the International Monetary Fund (IMF) for the revival of the $6 billion loan programme stalled since months over policy breaches. Federal Minister for Finance and Revenue …

ISLAMABAD, June 10(ABC): The federal cabinet on Friday approved a 15% increase in the salaries of the federal government employees and a 5% increase in pensions, sources said. The decision comes less than an hour before the Prime Minister Shehbaz Sharif-led government is set to present its first budget. Federal Information Minister Marriyum Aurangzeb took to Twitter and said: “The …

QUETTA, June 08(ABC): At least 22 people were killed and several others were injured as a passenger van fell into a ditch on the National Highway in the Qila Saifullah area of Quetta on Wednesday. Qila Saifullah Deputy Commissioner Hafiz Qasim Kakar confirmed the number of casualties and said that the injured are being shifted to the hospital. He said …

KARACHI, June 08(ABC): The Pakistani rupee snapped its three-day losing streak and slightly rebounded on Wednesday against the US dollar in the interbank market during intraday trade. However, it was trading above 202 threshold. The rupee was trading at 202.5 against the US dollar in the interbank market as of 1:21pm. AA Commodities Director Adnan Agar said that the market sentiment …

LAHORE, June 10(ABC): An anti-terrorism court (ATC) in Lahore on Friday accepted the interim bail pleas of 12 PTI leaders, including former federal ministers Hammad Azhar, Shafqat Mahmood and Yasmin Rashid in a case pertaining to alleged vandalism and damage of property during the party’s long march. Earlier, an anti-terrorism court (ATC) in Lahore issued on Friday the non-bailable arrest …

ISLAMABAD, June 08(ABC): : The World Bank (WB) has estimated a moderate Gross Domestic Product (GDP) growth rate for Pakistan standing at 4% for the incoming fiscal year, 2022-23, as compared to the official government-approved projections of 5% for the next budget, reported, citing the latest WB report Wednesday. “In Pakistan, growth is expected to be moderate from 5.7% in …

ISLAMABAD, June 08(ABC): Prime Minister Shehbaz Sharif Tuesday addressed a day-long pre-budget business conference in the federal capital and said that the country’s economy cannot be streamlined without political stability. The conference was being held to explore avenues for consensus-based economic measures with all stakeholders on board. It brought together leaders from a wide range of industries on a single …

ISLAMABAD, June 08(ABC): Finance Minister Miftah Ismail Tuesday rebutted reports and clarified that the government has no plans to increase the price of petroleum products. “There will be no increase in prices today, and there is no summary or plan to raise prices,” the finance minister said in a tweet after media reports quoted him as saying that petrol prices …