The only viable option for meaningful change in Pakistan is to replace the existing tax system with a lower, flat, and predictable tax system that is simple, pragmatic, growth-oriented, and broad-based. It is high time that the government and all political parties should consider it seriously.

The tough decisions coupled with the prudent policies by the incumbent government helped put the country’s economy on its own feet, said Muzammil Aslam, Spokesman for Advisor to PM on Finance and Revenue

Fed officials have insisted that the jump in inflation will be temporary as the global economy slowly returns to a semblance of normality next year in the wake of the coronavirus pandemic.

Tarin said, the government was actively pursuing the agenda to make Pakistan hub for regional trade and transit and realize full impact of Pakistan geostrategic and geo-economic location.

Minister for Energy in his senate speech compared the petroleum and diesel prices in Pakistan with prices in other countries across the world, leaving out oil producing countries. He also took a jab on the previous government when comparing the tax rates on petroleum products during their time.

In a meeting with the outgoing and incoming resident representatives of the IMF to Pakistan, Finance Minister Shaukat Tarin made the intentions of the government known towards the extended fund facility programme, and updated them on government's ongoing initiatives.

Looking at Pakistan's commitment to managing the Covid pandemic, the Paris Club of creditor countries decides to extend Pakistan's deadline for debt payment. The country has until December to make the payment, the club said in a statement, without releasing a figure.

Fitch Solutions has predicted Pakistan's GDP to grow by 4.2% in fiscal year 2022 in its latest report, up from 3.9 percent in the FY21. The credit rating agency noted the increase in vaccination rates in the country, while forecasting the burden of imports on growth.

Shaukat Tarin held a virtual meeting with the Executive Secretary of UNESCAP, Ms. Armida Salsiah. He talked about the macro-economic challenges faced by Pakistan and underlined fiscal policies being undertaken to place the economy on a growth trajectory.

Pakistani-American Economist Atif Mian talked about the severity of Afghanistan’s economic situation and said that the country is experiencing “mother of all sudden stops”. He said that the Taliban’s ascend to power will be not as easy as more than two decades ago when the economy was much stable.

The production of cotton in Punjab is expected to touch 4.5 million bales at an increase of approximately 8.5% from last year. Overall cotton production is expected to reach 8.46 million bales.

Trade deficit for the country rose, as the imports grew twice as fast as the growth in exports. The deficit for the month of August reached to an all time high of $4.05 billion, increasing 133.1 per cent year-on-year and 24.4 per cent month-on-month.