Author name: NEN News

ISLAMABAD — The Accountant General Pakistan Revenues (AGPR) has set June 12, 2026, as the final deadline for submitting payment claims for the financial year 2025-26. No claims will be accepted after this date. Importance of Timely Submissions by Government Departments AGPR stresses the urgency for government departments to submit their claims before this strict deadline. Extensions will not be granted. An official statement highlights, “No fresh claim will be accepted after the deadline.” Fiscal Year Closure and Reconciliation Efforts This directive supports ongoing efforts by federal ministries and departments to finalize their accounts for FY2025-26. The June 12 deadline is crucial to resolving outstanding payments and ensuring a smooth transition into the next fiscal year. Timely financial reconciliation is essential for maintaining fiscal discipline. Steps for Government Offices to Ensure Compliance Government offices should expedite processing outstanding payment claims to avoid last-minute issues. Adhering to the payment claims deadline is critical for fiscal order. Review outstanding claims immediately Ensure all documentation is complete before June 12 Following these steps will ensure an efficient fiscal year closure and result in accurate revenue accounting in the federal budget.

ISLAMABAD — Finance Minister Senator Muhammad Aurangzeb formally launched the Pakistan Economic Survey 2025-26 on Monday. This comprehensive document reviews the nation’s economic performance ahead of the federal budget announcement. Purpose of the Pakistan Economic Survey The Pakistan Economic Survey, an annual publication by the Ministry of Finance, offers an extensive analysis of macroeconomic indicators and sectoral performances for the fiscal year. It serves as a critical resource for policymakers, economists, and investors, providing data-driven insights into Pakistan’s economic health and development. Key Economic Indicators The 2025-26 survey highlights developments in major economic sectors and examines critical areas affecting Pakistan’s financial landscape. Understanding these insights is crucial for grasping the country’s economic trajectory. Core Economic Metrics GDP growth and economic expansion metrics Inflation rates and stability measures Trade balance and export performance data Investment trends and financial sector indicators Revenue collection and fiscal performance analysis Budget Planning and Economic Strategy The survey forms the basis for fiscal decision-making in the upcoming budget, offering empirical support for economic policies and proposals. It aids in setting economic priorities and targets for the forthcoming fiscal year, based on current metrics and projected growth. Finance Minister Aurangzeb will utilize the survey’s findings to shape Pakistan’s economic strategy for 2025-26. The insights will guide policy decisions on investment, trade, and revenue generation.

ISLAMABAD — Syeda Nosheen Iftikhar, a Member of the National Assembly, has unveiled a federal budget plan to provide relief to low-income groups. This initiative aims to shield ordinary citizens from added financial hardships. Focus on Economic Vulnerability The Pakistan Muslim League-Nawaz legislator highlighted that this budget corresponds with Prime Minister Muhammad Shehbaz Sharif’s vision. It is designed to protect economically vulnerable sectors, particularly as rising costs impact low-income communities. Key Economic Pressures Challenges Affecting Households Persistent inflation diminishing purchasing power Increase in household expenses for essential items Stagnant income growth for vulnerable populations Balancing Fiscal Constraints with Social Protection Pakistan faces economic challenges due to high inflation, which increases fiscal constraints. It is essential for the government to meet revenue goals while minimizing impacts on lower-income households. This equilibrium is crucial, particularly under the IMF program. Budget Influenced by Economic Pressures Pakistan’s fiscal policy must juggle various demands, making revenue generation vital for economic stability and fulfilling international obligations. The budget strives to support vulnerable groups and adhere to global financial commitments. There is significant anticipation for measures that will offer relief to low-income communities.

Pakistan and Kazakhstan have pledged to enhance industrial cooperation, economic development, and bilateral trade after high-level discussions in Islamabad on Thursday. Strengthening Economic Bonds A pivotal meeting advancing Pakistan’s economic diplomacy took place between Haroon Akhtar Khan, the Special Assistant to the Prime Minister on Industries and Production, and Yerzhan Kistafin, Kazakhstan’s Ambassador to Pakistan. The discussions focused on exploring new opportunities to expand bilateral relations and uncover untapped potential for economic cooperation across different sectors. Key Areas of Cooperation The two countries aim to deepen engagement in numerous sectors, benefiting both economies. Priority sectors for cooperation include: Industrial cooperation initiatives Economic development partnerships Expansion of bilateral trade Formalizing the Trade Framework While specific initiatives or formal agreements were not immediately disclosed, officials noted that technical details are being finalized. Further announcements are expected as both nations work to establish cooperation frameworks. This marks significant progress in strengthening Pakistan’s trade relationships in Central Asia. The agreement highlights Pakistan’s efforts to expand economic partnerships beyond traditional markets and diversify its trade portfolio.

BEIJING — Between June 8 and 10, Khalil Hashmi, Pakistan’s Ambassador to China, made a strategic visit to Shenyang, the capital of Liaoning province in northeastern China. The visit aimed to strengthen educational and economic ties between Pakistan and China. Inauguration of the Joint Research Centre During his visit, Ambassador Hashmi inaugurated the Pakistan-China Joint Research Centre at Shenyang University of Chemical Technology. This newly established facility marks a significant milestone in academic collaboration between the two nations. The centre will support joint projects involving chemical technology, industrial research, and innovation. This initiative plays a crucial role in advancing the Pakistan-China trade partnership and enhancing knowledge exchange. Exploring Investment Opportunities Liaoning province, an industrial hub in China’s northeast, presents substantial opportunities for Pakistani businesses and institutions. These prospects align with Pakistan’s economic priorities in key sectors. Pakistani enterprises are encouraged to explore partnerships in various sectors, including: Manufacturing and industrial production Technology transfer and innovation Research and development collaboration Export-oriented joint ventures Enhancing Bilateral Trade The ambassador’s visit underscores the commitment to expanding economic collaboration between Pakistan and China. This effort strengthens the broader framework of bilateral trade relations and investment cooperation. The joint research centre is poised to serve as a platform for Pakistani students, researchers, and businesses. It grants access to Chinese expertise and market opportunities. This facility encourages technology partnerships that can boost Pakistan’s industrial growth, enhance export capabilities in manufacturing, and increase revenue through bilateral economic cooperation.

KARACHI — The National Bank of Pakistan (NBP) has released the updated official buying and selling rates for major currencies. This update plays a crucial role in Pakistan’s foreign exchange market and banking sector. US Dollar Exchange Rate NBP’s daily currency bulletin sets the selling rate of the US dollar at 280.14 PKR. This rate is essential for transactions within Pakistan’s banking sector. Updated daily, these rates reflect market dynamics, establishing an official standard for forex operations. Purpose of NBP Currency Rates NBP provides these rates to support interbank and retail foreign exchange transactions nationwide. Key market players that rely on these official rates include: Commercial banks involved in forex operations Licensed money changers Businesses engaged in international trade Impact on the Foreign Exchange Market Daily rates from NBP are vital for maintaining transparency and standardizing currency exchange processes. Financial institutions and traders depend on these updates to stay in sync with global trends and market conditions. These official rates maintain stability in Pakistan’s foreign exchange market, serving as a reliable benchmark for international trade and financial transactions.