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The Karachi Interbank Offered Rate (KIBOR) is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Karachi wholesale (or "interbank") money market. [1] The banks used it as a benchmark in their lending to corporate sector. [2]
General tax rate for banking companies increased from 35% to 45%. A 1% tax on deemed rental income applied to the fair market value of certain immovable properties owned by resident persons in Pakistan. Revised capital gains tax on immovable properties in Pakistan to tax sales of open plots held for less than six years.
The 2024–25 Pakistan Federal Budget is a financial statement of the government's estimated receipts and expenditures for the fiscal year that runs from 1 July 2024 to 30 June 2025. [ 1 ] [ 2 ] On 12 June 2024, finance minister Muhammad Aurangzeb presented the federal budget with a total outlay of Rs18.877 trillion. [ 3 ]
The Pakistan Economic Survey is an annual report on the performance of the economy, focusing in particular on major macroeconomic indicators. Finance Minister Shaukat Tarin briefed on 10 June 2021, the Pakistan Economic Survey 2020-21 at a press conference in Islamabad on Thursday, revealing that the industrial and services sectors had helped the economy rebound and post GDP growth of 3.94 per ...
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The central office rate is notional in nature and is aligned to market conditions. Thus for all the units, there are two rates available to measure the performance. FTP therefore functions as a revenue "adjustment" made to the bank's balance sheet to reflect the cost of funding, based on the bank's cost of borrowing at the time of origination ...
During that period economy of Pakistan remained in poor shape and Pakistan had to go to IMF again for record third in the period of Bhutto government. [3] As per few sources, this was the most corrupt government in the history of Pakistan. This time Pakistan got an amount of US$294,690 (equivalent to $589,251 in 2023) on 13 December 1995. [3]
As of 2024, Pakistan’s defense budget is 1.7 percent of its GDP. [4] This represents a decrease compared to previous years, with the defense spending in 2022-23 being around 2% of the country’s GDP. [5] Despite facing economic challenges, Pakistan continues to allocate a substantial portion of its budget to defense. [6]