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Government Reduces Circular Debt by Rs 780 Billion

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Government Reduces Circular Debt by Rs 780 Billion

Pakistan’s power sector circular debt has been reduced by Rs 780 billion in the fiscal year 2024-25, bringing the total debt load down to approximately Rs 1.614 trillion. This reduction is attributed to improved distribution company performance, decreased line losses, enhanced revenue recovery, and renegotiated IPP contracts.

Additionally, the government has secured Rs 1.275 trillion in bank financing to further eliminate arrears—without imposing extra surcharges on consumers. Though progress is acknowledged, stakeholders warn that reliance on borrowing may impact long-term sustainability without structural reforms.

circular debt reduction, power sector reform, tariff adjustment ahead

Pakistan Posts 9-Year Low Budget Deficit in FY25

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Pakistan Posts 9-Year Low Budget Deficit in FY25

In fiscal year 2024-25, Pakistan recorded its lowest budget deficit in nearly a decade at 5.38% of GDP, equal to around Rs 6.17 trillion. This beat both government and IMF projections due to strong revenue growth, with tax and non-tax revenues rising by 36% year-on-year while expenditures increased by only 18%.

Tax revenue jumped 26%, supported by record Federal Board of Revenue collections, while non-tax income surged 66%, largely from a Rs 2.62 trillion dividend from the State Bank of Pakistan. The tax-to-GDP ratio reached 11.3%, a seven-year high. Pakistan also posted a primary surplus of 2.4% of GDP, the highest in more than 20 years.

This fiscal performance boosted investor confidence, helping the Pakistan Stock Exchange hit record highs as both foreign and local inflows grew.
budget deficit FY25, Pakistan fiscal discipline, revenue growth

FIA Launches Probe into Mardan-Based Tobacco Firm Over Tax Evasion & Money Laundering

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FIA Launches Probe into Mardan-Based Tobacco Firm Over Tax Evasion & Money Laundering

Pakistan’s Federal Investigation Agency (FIA) is conducting a detailed investigation into Universal Tobacco Company (UTC), based in Mardan, over serious allegations of Federal Excise Duty (FED) fraud, tax evasion, and money laundering. The inquiry—led by the FIA’s Corporate Crime Circle under Enquiry No. 46/2025—examines suspected underreporting of production, manipulated sales records, misuse of the FBR’s Track & Trace stamp system, and possible collusion with tax officials.

Authorities are reviewing income tax returns, excise duty filings, production data, and raw material import documents covering the past three years.The case highlights systemic vulnerabilities in Pakistan’s tobacco regulatory environment, where an estimated 40% of the cigarette market operates outside formal taxation, undermining authorities’ efforts. FIA officials are seeking to strengthen oversight, expose collusion, and recover substantial evaded revenues.

federal excise duty fraud, tobacco industry probe, FIA tax investigation

NAB to Auction Malik Riaz’s Bahria Town Properties

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NAB to Auction Malik Riaz’s Bahria Town Properties

The National Accountability Bureau (NAB) will auction six prominent Bahria Town properties linked to Malik Riaz in Rawalpindi and Islamabad on August 7, 2025, at its Rawalpindi office. The Islamabad High Court has allowed the proceedings to go ahead after rejecting petitions against the move. Previously seized under a plea-bargain agreement in the £190 million Al-Qadir Trust case, the assets include corporate offices, educational academies, and recreational facilities within Bahria Town developments.

The auction aims to recover significant funds through the sale of high-value Bahria Town properties.
NAB auction, Bahria Town properties, Malik Riaz asset sale

NADRA Launches Major Upgrades to Pak-ID Mobile App

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NADRA Launches Major Upgrades to Pak-ID Mobile App

NADRA has rolled out an upgraded version of its Pak-ID mobile application, introducing new features to make identity services more accessible and convenient. Key enhancements include real-time tracking of ID application status, facial biometric verification at the start of the process, viewing family records without biometric checks, appointment booking at NADRA centers, a redesigned interface, and integrated multiple payment options such as Visa, Mastercard, Easypaisa, JazzCash, and e-Sahulat.

These updates aim to digitize public services, improve user experience, and benefit citizens both in Pakistan and abroad.
Pak-ID upgrades, NADRA digital services, biometric verification app

Check your CNIC: use our free CNIC expiry date calculator to see when your card expires and when to renew. See also NADRA office timings.

PCB Mulls Babar Azam’s Comeback for Asia Cup 2025

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PCB Mulls Babar Azam’s Comeback for Asia Cup 2025

With opener Fakhar Zaman sidelined by a hamstring injury, the Pakistan Cricket Board is reportedly considering recalling former captain Babar Azam to the T20I squad ahead of the Asia Cup. His inclusion will hinge on form in the ongoing ODI series against the West Indies. The final squad announcement is expected in the second week of August.

A return for Babar Azam depends on his ODI performance and Fakhar Zaman’s fitness status ahead of Asia Cup 2025.
Babar comeback, Asia Cup Pakistan squad, Fakhar injury uncertainty

Pakistan Plans Lunar Mission by 2035

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Pakistan Plans Lunar Mission by 2035

Pakistan’s national space agency, SUPARCO, has been tasked with preparing and executing the country’s first lunar mission by 2035 as part of the “Uraan Pakistan” initiative. Building on cooperation with China in satellite launches and astronaut training, Pakistan aims to contribute a 35-kg lunar rover to the Chang’e 8 mission in 2028 as a precursor to its own mission.

The country’s lunar roadmap reflects long-term planning, global collaboration, and a push for technological innovation, marking a bold step in Pakistan’s space exploration ambitions.
Pakistani space mission, SUPARCO lunar plans, Pakistan China space collaboration

Pakistani Students Win Four Bronze Medals at International Olympiad

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Pakistani Students Win Four Bronze Medals at International Olympiad

A four-member Pakistani team achieved a clean sweep of bronze medals at the International Olympiad in Informatics (IOI) 2025, held in Bolivia from July 27 to August 3. The students—Muhammad Aneeq, Ghulam Junaid, Muhammad Saram, and Ahmed Imran Malik—secured a 100% medal rate for Pakistan. Competing against 86 countries, Pakistan ranked 32nd, surpassing several developed nations including Germany, France, and Italy. This marks a significant improvement over last year’s result of two bronzes and a 46th-place ranking.

Pakistan’s four-bronze performance at IOI 2025 reflects the growing excellence of its youth in programming and informatics, backed by transparent selection and strong institutional support.
Pakistani students achievement, International Olympiad medals, informatics competition

IMF Exposes Corruption in FBR

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IMF Exposes Corruption in FBR

The IMF has submitted its Governance and Corruption Diagnostic Assessment (GCDA) report to Pakistan’s Finance Division, revealing systemic corruption within the Federal Board of Revenue (FBR). The report recommends limiting tax exemptions, phasing out special treatments, separating tax policymaking from FBR operations, granting autonomy to the Auditor General’s office, and banning supplementary budget grants that bypass parliamentary oversight. It also urges the government to publish a governance action plan and report progress by May 2026.

The IMF’s GCDA report calls for major reforms in the FBR to curb corruption, improve fiscal governance, and strengthen accountability measures by mid-2026.
fbr corruption, IMF governance audit, fiscal reform demand

PM Orders Strict Adherence to Office Timings Across Federal Ministries

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PM Orders Strict Adherence to Office Timings Across Federal Ministries

The Prime Minister has directed all federal ministries, divisions, and affiliated bodies to strictly follow official office hours. Cabinet secretaries and department heads have been instructed to lead by example and ensure punctuality across their respective domains. The move aims to improve efficiency, strengthen service delivery, and promote a disciplined work culture.

The Prime Minister has ordered all federal organizations to enforce strict working hours, stressing punctuality, accountability, and professionalism to enhance administrative performance. Senior officials are expected to set the standard for discipline and efficiency.
standard working hours, federal government discipline, administrative efficiency

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