Business

Around 53% of additional spending done on account of Covid-19 outbreak

Increase will aggravate woes as most power plants will remain idle due to low demand

De facto finance minister advises provinces not to make budgets on basis of Rs4.963 trillion target

Naqvi is one of six former Abraaj executives who face charges stemming from private equity firm’s 2018 collapse

In the post-budget conference, PM’s aide says govt has cut its own expenditures to pass on relief to the public

Inflows stand at $1.87b compared to $1.79b in April

Higher target set at a time when petroleum demand has gone down

Exporters say budget 2020-21 is discouraging for traders

No allocation made for foreign loan repayment in hope of rescheduling by lenders

ABAD chairman says critics must understand the unusual circumstances

Move aimed at achieving Rs4.96 trillion 'aspirational' target

CGT on sale of immovable property abolished if sold after four years of purchase

Govt earmarks Rs650b for federal development projects in FY21

Allocates Rs209 billion; power sector will bear the major reduction

PTI govt sets a daunting task for FBR to collect Rs4.963 trillion revenue

Shehbaz says it is ‘recipe for disaster’; Bilawal calls it anti-people budget of ‘PTIMF’

It’s a grave injustice [not increasing the salaries] at the behest of the IMF, says PML-N's Asif

Rs1,289 billion earmarked for military spending in federal budget

Minister says senators’ recommendations will be included in budget

ABAD chairman says critics must appreciate unusual circumstances Pakistan is dealing with

Benchmark index sheds 1.47% to settle at 34,611.23

Both benchmarks head for weekly declines of over 8% after six weeks of gains

Current account deficit cut only achievement; Dr Abdul Hafeez Shaikh blames previous govt, Covid-19

Up to 19.1m jobs at risk because of lockdowns

LSM records decline of 5.4% in Jul-Mar FY20, auto worst impacted sector that contracts 36.5%

It will be mainly due to sharp decline in economic growth, increase in budget deficit

Overall, installed power generation capacity reaches 35,972MW in Pakistan

Pakistan experiencing demand and supply shock due to Covid-19

Drop comes due to external debt repayment of $301 million

Austerity measures, SBP’s double-digit policy rate hurt investors’ confidence

Expert terms growth overestimated, says government may revise it

Highest amount of tax concessions given in FY20 to affluent people

Bengali asks court to set aside the May 12 notification issued by federal govt

Benchmark index rises 63.5 points to settle at 35,128.58

Bankers union demanded that certain employees should be allowed to work from home

Crude also weighed down by Fed projection US economy will shrink 6.5% this year

Drop comes due to external debt repayment of $301 million

PTI govt unveils corona-influenced budget

NEC sets 2020-21 GDP growth target at 2.1%; development outlay reduced to 1.3tr

APBF urges govt to cut taxes in budget to help businesses recover

Creates teams to address issues faced in availing financing under Rozgar scheme

PAMA says any relaxation in import policy will dent confidence of investors

All three major assemblers report depressing figures for May

Considers reducing tax on low-cost cigarettes, increasing levy on expensive brands

OECD sees unprecedented loss of income as measures to contain virus take toll

Insists it will help shopkeepers with rented premises to recover losses

Farmers struggle as worst locust plague in 25 years wipes out entire harvests

Bans export as federal, provincial departments meet only 80% of procurement target

Committee to assess fortnightly oil prices review plan

Interior minister tells PM his ministry took kinetic, non-kinetic measures, legislative amendments