PM approves 1% sales tax on electric cars in new five-year auto policy
PM Shehbaz approved a 1% sales tax on battery EVs and lower import duties in the 2026-31 auto policy, with a levy on petrol cars; the IMF must approve first.
Economy
The latest Economy news, reporting and analysis from The Indus Compass.
IMF urges Pakistan to look beyond fiscal targets to boost growth
IMF director Jihad Azour said Pakistan's fiscal policy must go beyond primary balance targets to fund investment, as Zardari pledged more reforms.
PM Shehbaz orders faster FBR reforms, warns officers against resistance
PM Shehbaz Sharif ordered faster FBR reforms and warned against resistance, as the government moves to let it compulsorily retire non-performing tax officers.
Cotton arrivals rise 7.5pc but 150 textile mills sit idle
Cotton arrivals reached 4.08 million bales by October 15, yet industry bodies say 500 ginning factories and over 150 textile mills are closed.
Pakistan to chair World Bank and IMF boards in 2027, first time since 1953
Economic Affairs Minister Ahad Cheema was named incoming chair of the World Bank and IMF Boards of Governors for 2027, Pakistan's first time since 1953.
Dar orders strict action against hoarders amid rising flour prices
Ishaq Dar told authorities to act on hoarding and overpricing of essential goods, saying stocks are adequate, as a 20kg flour bag topped Rs3,000 in Peshawar.
FBR extends income tax return deadline to October 31
The FBR extended the deadline for 2026 income tax returns to October 31 after requests from trade bodies, as filings rose 34pc to 6.71 million by October 14.
IMF says India will pass Japan as fourth-largest economy in 2027
The IMF projects India's GDP at $4.52 trillion in 2027, ahead of Japan, and warns Gulf economies will not return to their pre-war path soon after the Iran war.
Aurangzeb outlines targeted fuel subsidies to IMF deputy chief
Finance Minister Aurangzeb discussed targeted fuel subsidies with IMF deputy chief Nigel Clarke in Bangkok, and US trade, Reko Diq and minerals with a US envoy.
World Bank rates Pakistan's tax reform programme 'moderately satisfactory'
The World Bank rated its $700m Pakistan tax reform programme moderately satisfactory with substantial risk, flagging the vacant chief statistician post.
PM Shehbaz says wheat is plentiful, warns hoarders of no leniency
PM Shehbaz Sharif told the first National Agricultural and Food Security Council that wheat stocks are ample and the wheat price will be announced soon.
UNDP launches jobs and investment push for developing countries
UNDP chief Alexander De Croo said 'alarm lights' are on orange for developing countries hit by energy costs, high interest rates and a super El Nino.
PM Shehbaz orders SME financing doubled to Rs2.2tr by 2028
PM Shehbaz Sharif told Smeda to double small business financing to Rs2.2tr by 2028 and ordered a third-party audit of Islamabad's Daanish IT Park.