Govt Reduces Commercial Banks’ Role in Pension Payments Through Digital Verification
The Finance Ministry has removed commercial banks from pensioners’ proof-of-life verification, integrating NADRA with CGA and MAG for digital pension verification and disbursement.
Aurangzeb Reviews Progress on Closure of PASSCO and Utility Stores Corporation
Finance Minister Muhammad Aurangzeb reviews progress on the closure of PASSCO and USC, stressing coordination, transparency and timely completion of remaining work.
Pakistan’s Fiscal Stability Improves, But Growth Costs Raise Fresh Concerns
Pakistan’s fiscal indicators have improved with primary surpluses and lower debt servicing, but higher taxes, weak investment and restrained development spending raise concerns.
PM Shehbaz Sharif Welcomes Moody’s Upgrade of Pakistan Rating to B3
Prime Minister Shehbaz Sharif welcomes Moody’s upgrade of Pakistan’s sovereign credit rating from Caa1 to B3, citing economic reforms and improving global confidence.
Pakistan Seeks $10 Billion US Exchange Stabilisation Support Facility, Aurangzeb Confirms
Pakistan has formally sought a $10 billion US Exchange Stabilisation Support Facility as the government works to strengthen foreign exchange stability and shift towards longer-term market-based financing.
Khurram Schehzad Says Diesel Levy Increase Reflects Phased Return to Budgeted Level
Finance Minister’s Advisor Khurram Schehzad said the recent diesel petroleum levy increase is part of a phased normalization process after a temporary reduction, with the government seeking to meet approved revenue targets while maintaining fiscal stability.
Pakistan Private Sector Credit Surges 14.8 Percent To Rs11.38 Trillion In FY26
Pakistan’s private sector credit increased by Rs1.46 trillion in FY26, reaching Rs11.38 trillion, driven by strong borrowing from manufacturing, trade, and agriculture sectors.
Pakistan Finance Minister Outlines Shift Toward Sustainable Growth and Virtual Asset Regulation
Federal Minister for Finance Senator Muhammad Aurangzeb highlights economic reforms, Panda Bond issuance, and the establishment of PVARA for overseas scholars.
Finance Ministry Rules Out Additional Tax Cuts or Salary Relief for Salaried Class
The Finance Ministry confirmed it cannot provide further relief to the salaried class due to tight fiscal constraints and ongoing IMF discussions.
Ministry of Finance Orders Immediate Surrender of Unspent Funds to Finalize FY2025-26 Revised Estimates
The Finance Division mandates all federal departments to report savings by May 10 as part of a fiscal cleanup to prepare the upcoming budget and reallocate PSDP funds.