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ISLAMABAD: The government has announced to give the toughest ever austerity budget, having backing of military and civilian leadership, but its ultimate success will hinge upon achieving Rs5.55 trillion tax target that will require an unprecedented annual growth rate of 36%. While addressing a...

AIM 120 AMRAAM Kill probability according to various sources is 63-85%. AMRAAM only explode when it hit the target otherwise it drops unexploded. The Picture of AMRAAM uploaded by Indian air force as proof of F-16 being involved and shot down must know that the missile wreckage on display...

KARACHI: The State Bank of Pakistan (SBP) said on Friday that prospects for economic growth remain strong, noting that the economy is poised to achieve the growth target of six per cent for 2017-18. In its first quarterly report on the state of the economy, the SBP said rising income levels of...

ISLAMABAD: Pakistan on Friday signed an agreement for the sale of 10 Super Mushshak aircraft to the Nigerian Air Force (NAF), the Pakistan Air Force (PAF) announced here on Friday. “The contract signing ceremony was held at Abuja (Nigeria) where Air Vice Marshal Iya Ahmed Abdullahi and Air...

Finance Minister Ishaq Dar on Friday announced Pakistan's foreign exchange reserves have hit an all-time high of $24.5 billion. The finance minister congratulated Prime Minister Nawaz Sharif and the nation on the achievement. "There was a time when the country had reserves equal to a few weeks...

The petition had, until October 21, to gather 100,000 signatures to merit a response from the White House under the rules of the programme, which it had already collected, and several times more (Shutterstock image) ongoing online petition that asked it to designate Pakistan a state sponsor of...

ISLAMABAD: The Asian Development Bank (ADB) has revised up Pakistan's economic growth projection for the year 2017 from 4.8 percent to 5.2 percent. In its updated flagship economic publication Asian Development Outlook (ADO) launched on Tuesday, it said that the growth projections for next year...

KARACHI: Thanks to the net inflow of almost $600 million from China, foreign direct investment (FDI) in Pakistan surged 38.8% in 2015-16, according to statistics released by the State Bank of Pakistan (SBP) on Wednesday. Pakistan received FDI of $1,281.1 million in July-June, which is $358.2...

KARACHI: MOL, the operator of Tal block in the Khyber Pakhtunkhwa, has encountered hydrocarbons in development well Makori East-5, Pakistan Oilfields Limited that has pre-commerciality working interest of 21 per cent in Tal block stated in a stock filing on Monday. Other stakeholders include...

Islamabad - Gwadar International Airport, which is being built at a cost of $260 million, is capable of handling the large passenger planes, including the Airbus A380 Boeing jet The amount for the airport is a full grant from the Chinese government, the Parliamentary Committee on China-Pakistan...

The International Monetary Fund (IMF) on Tuesday increased to 5 percent its forecast for Pakistan's growth in the fiscal year to June 2017, from a previous estimate of 4.7 percent, citing China's plans to invest in road and energy infrastructure. In September, Pakistan will end a three-year...

ISLAMABAD: Pakistan’s tax authority on Thursday claimed to have crossed the Rs3 trillion mark in revenue collection and is all set to achieve the original budgetary target for the outgoing fiscal year. The 2015-16 is the first year in the three-year rule of the PML-N when the budgetary...

KARACHI: Pakistan Oilfields Limited, the operator of Tal block, has discovered a “significant amount” of hydrocarbon reserves in an exploratory well — Makori Deep-1. “As a result of drill stem test (DST) conducted at the well to test the potential of Lockhart formation, the well has tested...

More than 7,000 hardcore terrorists have been arrested Pakistani security forces on Tuesday claimed to have curtailed militant activities by around 80 per cent since the December 2014 deadly terror attack on an Army-run public school in Peshawar. More than 7,000 hardcore terrorists have been...

ISLAMABAD - The government has decided to increase Federal Public Sector Development Programme (PSDP) and provincial Annual Development Plan’s(ADP) outlay by Rs161 billion for the next fiscal year. If announced, the outlay will reach Rs1675 billion mark against the current year’s allocation of...

Former Afghan Taliban chief Mullah Mansour was tracked down by United States (US) spy agencies when he was visiting his family in Iran, the Wall Street Journal reported on Wednesday. Iran, however, has denied that Mansour entered Pakistan from the Islamic republic. The WSJ report claims US...

ISLAMABAD: Finance Minister Ishaq Dar on Saturday proposed to get the provisional economic growth figure of 4.7% vetted by an international expert after his critics blamed him for manipulating data and destroying the country’s economic statistics to paint a rosy picture. Speaking at a...

ISLAMABAD: The country’s large-scale manufacturing (LSM) sector grew 4.7 per cent during the first three quarters of this fiscal year as compared to the corresponding period last year. The Quantum Index Numbers (QIM) of large-scale manufacturing industries was recorded at 133.88 points during...

KARACHI: In a pre-budget exercise, the government has moderated its revenue collection target for the next financial year, a source privy to meetings told Dawn. “The FBR’s projected tax collection target has been marked at Rs3.6 trillion for the budget 2016-17, against Rs3.1 trillion during the...

AS the PML-N government completes its third year next month, it plans to change gears from fiscal stabilisation to economic growth, not much distracted by severe political assault by a hyper-active opposition but in response to it. “Time is now to expend requisite efforts towards achieving...