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Pakistan Times Today

Results for “Finance” (241)

Syeda Mubeena Hashmi Posted in Weather

Pakistan urges stronger action on global climate finance

UNITED NATIONS: Pakistan has urged urgent action on climate finance, debt reform and cooperation over shared water resources at the UN General Assembly’s Second Committee. Deputy Permanent Representative Usman Jadoon called for tangible progress on global economic and development challenges. He sought a credible pathway to mobilise $300 billion in climate finance, including grants and concessional funding, while urging increased adaptation finance and adequate support for the Loss and Damage Fund. Read More…

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Syeda Mubeena Hashmi Posted in Politics

Nearly 10,000 Shopkeepers Join New Tax Scheme in First Month

Nearly 10,000 shopkeepers registered under the Asan Tax Scheme (ATS) during its first month, according to State Minister for Finance Bilal Azhar Kayani. Officials said 1,929 participants entered the tax system for the first time, while hundreds had already filed returns. The minister directed the FBR to resolve technical issues and expedite tax registration plates for compliant shopkeepers. Read More…

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Alina Hashmi Posted in World

Smotrich repeats call to replicate West Bank settlement policies in additional areas

Israel’s finance minister has vowed to expand West Bank settlement policies to northern and southern Israel, in response to an alleged espionage case reported by Israeli media. “It’s time to bring the revolution in Judea and Samaria to the Galilee and the Negev, in order to save the State of Israel from the next October 7,” Bezalel Smotrich said on X. He referred to Judea and Samaria to mean the occupied West Bank, Negev for southern Israel and Galilee for the north. Read More…

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Alina Hashmi Posted in World

Iran says finalised Russia deal to boost trade and ‘increase resilience to sanctions’

Iranian Finance Minister Seyed Ali Madanizadeh says Iran and Russia have reached an agreement that would “create new openings” and “increase Iran’s resilience to sanctions,” Fars news agency reports. This comes after Madanizadeh said on Sunday during his visit to Moscow that the two countries were finalising a previously reached economic deal. Read More…

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Syeda Mubeena Hashmi Posted in Business

Pakistan Moves to Ease Pension Verification Process

ISLAMABAD: The finance ministry has removed commercial banks from the administrative process of verifying pensioners’ proof-of-life certificates, aiming to simplify pension payments. Under revised SOPs, Nadra will electronically transmit digital life signals to the Controller General of Accounts and Military Accountant General through a secure API. Banks will only disburse pensions and will not handle verification or biometric data. Pension accounts will also be exempt from dormancy requirements. Read More…

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Syeda Mubeena Hashmi Posted in World

Smotrich Unveils Plan Ahead of Israel Elections

JERUSALEM: Far-right Israeli Finance Minister Bezalel Smotrich on Thursday announced a plan to significantly increase the Jewish population in the Negev and Galilee, areas with large Arab-Israeli communities. With elections approaching, Smotrich said his Religious Zionism party intended to replicate what he described as a “revolution” in the occupied West Bank, where Israeli settlement construction has expanded sharply. He said the initiative would bring similar changes to the Negev and Galilee on a larger scale. Read More…

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Hafsa Mustafa Posted in Politics

Saudi Arabia rolls over $5bn deposits with Pakistan for three years

Saudi Arabia has rolled over $5 billion in deposits for three years, top officials confirmed on Wednesday. Finance Minister Muhammad Aurangzeb confirmed the development, while, State Bank of Pakistan (SBP) Governor Jameel Ahmed also disclosed the same while speaking to reporters outside Parliament House. The rollover will help Pakistan reduce pressure on its external account as it manages foreign debt repayments in the current fiscal year. Read More…

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Hafsa Mustafa Posted in Politics

World Bank asks Pakistan to revise NFC Award formula

The World Bank (WB) has asked Pakistan to revise the National Finance Commission (NFC) Award formula, both vertically and horizontally, and adopt fiscal ‘equalisation’ for resource distribution among the provinces based on spending needs and projected revenue capacity. The WB also supported excluding population from the main criteria for resource distribution and suggested fiscal equalisation as the way forward. Read More…

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