Pakistan's FBR tax shortfall swells to Rs 833 billion

Hamza Ameer | May 1, 2025 9:25 PM

Islamabad, May 1 (IANS) Pakistan's Federal Bureau of Revenue (FBR) has been consistently falling short of its targets for the past 10 months, piling up a confounding shortfall of Rs 833 billion during the current fiscal year. This is happening at a time when the government led by Prime Minister Shehbaz Sharif has imposed a record number of additional taxes and is reducing refunds. Experts say the upcoming budget will also be very challenging with many towering targets to achieve.

US, Ukraine reach deal on economic cooperation

Yashwant Raj | May 1, 2025 5:18 AM

Washington, May 1 (IANS) The US and Ukraine on Wednesday announced a deal that will give America access to Ukrainian rare earth reserves and demonstrate the Trump administration's commitment to the "peace process centered on a free, sovereign, and prosperous Ukraine over the long term".

India shuts airspace for all Pakistan-operated flights till May 23

IANS | April 30, 2025 11:21 PM

New Delhi, April 30 (IANS) In a significant development, India on Wednesday announced to shut its airspace for Pakistan-owned and operated flights till May 23 (estimated), days after Islamabad decided to shut its airspace to all flights owned and operated by the Indian carriers.