Pakistan Freelancers Association (PAFLA) to hold a conference in Karachi
The conference will highlight the contributions of the local freelancer community to the national exchequer and the economy As a representative of more than three million freelancers working in the country, the Pakistan Freelancers Association (PAFLA) is all set to host a conference titled “The Future of Work (FoW): Collaborating with Freelancers, Influencers, and Entrepreneurs…
Adil Aziz
Budgetary targets are unrealistic Business Community will look for any hidden taxes: Irfan Iqbal Sheikh
Mr. Irfan Iqbal Sheikh, President FPCCI, has apprised that the federal budget 2023 – 24 presents unrealistic picture of the economy; and, therefore, the budgetary targets set in the budget documents are unrealistic as well. Additionally, the business community will be looking for any hidden taxes in budget. Mr. Irfan Iqbal Sheikh said that target…
Govt specifies Rs 107,413 Million for power sector in PSDP 2023-24
The government has earmarked a sum of Rs 107413.044 million for various ongoing and new schemes of the power sector in the Public Sector Development Programme (PSDP) for the financial year 2023-24. According to the budgetary document, out of the total allocation, the government allocated Rs 81,774.431 million from the local component while Rs 25,638.613…
Service sector expected to grow by 3.6 pc in FY 2023-24
he services sector is expected to accelerate its growth to 3.6 percent in fiscal year 2023-24, according to the Annual Plan 2023-24. The envisaged growth in the commodity producing sectors will complement the targeted growth in the services sector. “Uptick in the economic activity in agriculture and manufacturing sectors will translate into increased growth in…
Multiple barriers drag growth rate down to 0.29% in FY 2023
The severe macroeconomic imbalances, flood damages, domestic supply shocks, and international economic slowdown dampened the economic growth to just 0.29 percent in FY 2023, said the Pakistan Economic Survey 2022-23. Following the budget announcement in June 2022, positive economic expectations and the performance of key indicators resulted in the government projecting GDP (gross domestic product)…
Govt presents Rs.14.46 trillion relief, growth-oriented budget
The 15-month-old coalition government on Friday (June 09) presented its second business-friendly, relief and development-oriented Federal Budget for the fiscal year 2023-24, with a total outlay of Rs.14.46 trillion, aimed at coping with the inherited economic challenges and laying the foundation for a sustainable, inclusive and resilient economy. The annual fiscal plan, put before the…
Govt contains fiscal deficit at 3.6% in FY 2023: Economic Survey
The efforts made by the incumbent government helped in containing the fiscal deficit to 3.6 percent of Gross Domestic Product (GDP) during the first three quarters of Fiscal Year 2022-23 against 3.9 percent of GDP recorded in the same period of last year. According to Pakistan Economic Survey 2022-23, launched here by Federal Minister for…
Banking sector’s Net Domestic Assets grew by Rs 4.098 trillion in Jul-May FY 23
Net Domestic Assets (NDA) of the banking sector increased by Rs 4,098.6 billion during the period 1st July-12th May FY 2023 as compared to Rs 2,889.1 billion during same period last year. According to the Economic Survey 2022-23 launched by Finance Minister Ishaq Dar here on Thursday, broad money increased to Rs 2,026.3 billion (growth…
FPCCI stresses looking into alternatives and cut in policy rate for containing inflation
The Policy Advisory Board of FPCCI strongly urges that inflation is cost-pushed and policy rates have proved to be an ineffective tool to control inflation. In any case, the core inflation is still lower than the policy rates and a 100 basis points (bps) reduction in the policy rate is proposed in the upcoming monetary…
TAPI project to strengthen energy security of Pakistan, region: PM
The prime minister, in a meeting with a high ranking delegation from Turkmenistan, said the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas project was manifestation of Pakistan-Turkmenistan strategic cooperation in the energy sector. The delegation was headed by State Minister and Head of TurkmenGaz Maksat Babayev. Welcoming the delegation, the prime minister said Pakistan and Turkmenistan enjoyed brotherly relations…