Tax changes in Budget 2024-25 lead to pay cuts for public, private employees | The Express Tribune
ISLAMABAD: The federal government’s tax adjustments in the Budget 2024-25 have resulted in a decrease in net salaries for numerous employees across both public and private sectors, despite nominal pay raises. According to government officials, the changes in tax rates for salaried individuals have led to a situation where, even with salary increases, higher tax […]
Modi’s govt spends billions on jobs, key allies in new budget
Indian Prime Minister Narendra Modi attends the Quad leaders’ summit, in Tokyo, Japan, May 24, 2022. — Reuters Indian government unveiled spending of billions of dollars to create new jobs and satisfy key coalition partners in the first budget by Prime Minister Narendra Modi’s government after an election setback, aiming to win back voters and […]
Brazil to freeze $2.70 billion in budget to meet fiscal target | The Express Tribune
BRASILIA: Brazil’s Finance Minister, Fernando Haddad, announced on Thursday a plan to freeze 15 billion reais ($2.70 billion) from the 2024 budget. This move comes as the government grapples with meeting its fiscal targets for the year, following market pressures to reduce spending after a recent decline in local asset values. Of the total amount […]
‘Very optimistic’ Aurangzeb eyes IMF deal after tax-heavy budget approved
Finance Minister Muhammad Aurangzeb addressing the press conference in Islamabad, on June 30, 2024. — Screengrab/GeoNews Finance Minister Muhammad Aurangzeb Sunday expressed optimism about Pakistan’s chances of securing a new IMF bailout, following President Asif Ali Zardari’s approval of the tax-intensive budget for the upcoming fiscal year starting July 1. The finance minister, during a […]
Budget 2024-25 wins IMF praise amid calls for more fiscal tightening | The Express Tribune
ISLAMABAD: The International Monetary Fund (IMF) has praised the stringent economic measures outlined in the budget, citing them as essential for economic stability, according to sources. The sources also reveal that there has been progress in the talks between Pakistan and the IMF. The Fund, they said, has welcomed the tough economic decisions in Pakistan’s […]
Sindh approves Rs3.056 trillion budget for FY25 amid opposition unrest
This photo shows the interior view of the Sindh Assembly during a session. — APP/File The Sindh Assembly has passed the provincial budget for the fiscal year 2024-25 (FY25), rejecting all proposals from opposition lawmakers, who, as a protest turned the budget session into a pandemonium. The budget, with a staggering total outlay of Rs3.056 […]
NA passes tax-heavy budget as Pakistan looks to secure new IMF deal
Finance Minister Muhammad Aurangzeb addressing on the floor of the National Assembly, on June 28, 2023. — Facebook/@NationalAssemblyOfPakistan ISLAMABAD: The National Assembly on Friday passed the tax-heavy Finance Bill 2024 as the government seeks to secure the new International Monetary Fund (IMF) bailout package by fulfilling its requirements. The budget, for the fiscal year 2024-25 […]
National Assembly approves budget 2024-25 amidst opposition criticism | The Express Tribune
ISLAMABAD: The National Assembly on Friday approved the federal budget of Rs18,877 billion for the fiscal year 2024-25 following the completion of the approval process. During the session, all opposition amendments were rejected unanimously. Prime Minister Shehbaz Sharif, Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto-Zardari, and Asifa Bhutto-Zardari participated in the proceedings, where the opposition criticised […]
GB presents Rs1.402 trillion budget for upcoming fiscal year
A file view of a session of the Gilgit-Baltistan Assembly. — Radio Pakistan/File GIlGIT: The Gilgit-Baltistan government has proposed a Rs1.402 trillion budget with a Rs19.07 billion subsidy for wheat in the upcoming fiscal year 2024-25. Presenting the budget in the provincial assembly, GB Finance Minister Engineer Ismail said that an amount of Rs86.6 billion was […]
Balochistan presents Rs930bn budget 2024-25
Balochistan Assembly seen in this undated image. — APP The Balochistan government on Friday presented its annual budget of Rs930 billion for the upcoming fiscal year 2024-25, with a surplus of Rs25 billion and special focus on education and health sectors. Balochistan Finance Minister Mir Shoaib Noshirwani tabled the Finance Bill 2025 on the assembly’s […]