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Fiscal deficit narrows to 8.1pc in last fiscal year

Fiscal deficit narrows to 8.1pc in last fiscal year

The country’s fiscal deficit in the fiscal year 2019-20 stood at 8.1 percent of the GDP, data released by the Ministry of Finance showed on Wednesday. In figures, the budget deficit in FY20 amounted to…

Big industry plummets 10.7pc in June

Big industry plummets 10.7pc in June

The Large Scale Manufacturing of the country showed a decrease of 10.17 percent in FY20, data released by the Pakistan Bureau of Statistics showed on Wednesday. “The overall output of LSMI decreased by 10.17% for…

Rupee Continues to Fall Against the Dollar

Rupee Continues to Fall Against the Dollar

The dollar recorded stellar gains to reach the fiscal year high against the rupee as despite falling demand for the greenback in the interbank as well as the open market.  On Tuesday, the dollar was…

Pakistan Auto sales recovered in June 2020

Pakistan Auto sales recovered in June 2020

Automobile sales during the month of June saw a significant recovery from the almost-zero sales booked a few months ago mainly on account of lifting restrictions and easing of lockdowns in the country.  Honda and…

FBR blocked refunds to show higher tax earnings

FBR blocked refunds to show higher tax earnings

The Federal Board of Revenue (FBR) officials on Thursday admitted to blocking refunds worth Rs532 billion in order to show higher-than-actual tax earnings since 2014.  The board was not releasing refunds to concerned individuals and…

Pakistan’s exports fall 6.8pc YoY in June 2020

Pakistan’s exports fall 6.8pc YoY in June 2020

Pakistan’s exports during the FY2019-20 declined by 6.8 percent to $21.4 billion compared to $22.97bn during the same period last fiscal year, data released by the Ministry of Commerce showed on Friday.  However, detailed numbers…