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Monthly Archives: June, 2020

Economic Survey 2019-20: V-shaped Recovery Highly Expected

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According to the Pakistan Economic Survey 2019-20, the Government expects a V-shaped economic recovery to be highly likely when coronavirus spread slows down. It has been identified...

Coronavirus Imposes Rs. 3 Trillion Loss on the Economy

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The government has formally recognized that coronavirus has caused a loss of Rs3 trillion to the economy so far, with GDP hit by 3% to 3.5%,...

The Government May Impose GST on More Goods

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The federal government may cut tax rates on low-cost cigarettes but will increase the levy on premium brands in the next budget and it also aims...

SECP’s Regulatory Sandbox Moves to The Next Stage

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SECP’s regulatory sandbox – a technology-driven initiative – received a positive response from a wide array of innovators including well-established entities, foreign firms, and start-ups. These individuals presented...

SBP Proposes to Obliterate Cash Withdrawal Tax from Banks

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The State Bank of Pakistan (SBP) has submitted budget proposals for 2020-2021 which the Federal Revenue Board (FBR) is considering. As per the media reports, The central bank...

National Economic Council to Approve 2.1% Growth Target

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The meeting of the National Economic Council (NEC) on Wednesday (today) would approve a growth target of 2.1% for the next fiscal year, subject to favorable...

Hajj 2020 in COVID-19 May Significantly Reduce Pilgrims

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There is still confusion about how Saudi Arabia plans to coordinate the hajj, the annual pilgrimage to Mecca and Medina’s holiest sites of Islam. Hajj is...

Expenditure Freeze, Revenue Target of Rs4.95tr Agreed with IMF

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An agreement appears to have been reached to freeze the federal government's size and expenditure in Budget 2021, which is set to be announced on June...

Govt Devises Plan to Attract $5 Billion FDI in Oil and Gas Industry

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The Government has developed a plan to attract $5 billion in foreign direct investment (FDI) for the country's oil and gas exploration and production. This plan is...

GDP Forecast Massively Revised Downward

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The World Bank (WB) has significantly revised down the GDP growth rate forecast for Pakistan from 2.4 percent for the outgoing fiscal year 2019-2020 by five...
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