Pakistan’s September inflation eases to 10.3%, but prices keep rising
September’s annual CPI rate fell to 10.3%, while prices rose 1.3% from August. The official PBS result shows why slower inflation does not mean a cheaper household basket.
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Reporting and analysis on Pakistan’s public finance, taxation, budgets and economy.
Pakistan clarifies SOE reporting rules, preserving SBP’s regulatory precedence
An October 2 policy amendment ties SOE financial reporting to SECP-notified standards and preserves SBP’s precedence for regulated entities. It also addresses exemptions and statutory SOE financial management.
Pakistan’s bond-market reform plan seeks more investors beyond banks
A September action plan targets a broader investor base, more predictable auctions and better trading. Its objectives extend beyond raising debt to improving how the domestic market works.
Pakistan’s public debt reached PKR 86.7tn in FY2026
Pakistan’s total public debt rose 7.7% to PKR 86.7tn by June 2026, while its ratio to GDP eased. The Finance Division also reports a narrower statutory debt measure, which produces a different headline ratio.
Maturing debt makes up most of Pakistan’s FY2027 financing need
The Finance Division projects PKR 28.647tn in gross financing needs for FY2026–27. About three-quarters reflects debt maturities, rather than the year’s projected federal deficit.
FBR Tax Return Deadline Remains 30 September as ABAD Seeks Extension
FBR’s published general deadline for individuals and AOPs remains 30 September 2026 as ABAD seeks an extension. The request is not an FBR decision.
PSX KSE-100 Ends Volatile Week Nearly Flat at 170,765
The KSE-100 lost about 120 points in the week to 25 September as investors weighed oil prices and IMF developments; average daily volume rose 48.2%.
FBR Adds E-Scrutiny of Sales Tax Returns Through IRIS
FBR SRO 1655(I)/2026 sets out electronic scrutiny of sales-tax returns through IRIS, including advance advice and time for taxpayers to respond to flagged discrepancies.
Pakistan September Inflation Forecast: 10.25%–10.75%
Analysts forecast September inflation of 10.25%–10.75%, but PBS has not released the official September CPI figure. Energy, food and housing costs remain key risks.
Pakistan Gulf Trade Deficit Reaches $3.45bn in July–August FY27
Pakistan’s trade deficit with Gulf partner countries widened to $3.45 billion in the first two months of FY27 as imports from Qatar and Saudi Arabia rose faster than some export flows.
Pakistan Is Taking the Tax Officer Out of the Tax Audit
Pakistan is changing the way tax audits and assessments are conducted by creating a National Faceless Centre, a system designed to separate taxpayers from the officers handling their cases. The reform could significantly change one of the most sensitive parts of Pakistan's tax administration: direct interaction between taxpayers and tax officials. How the system will work Under the…
Pakistan Tightens Tax Rules for Social Media Creators
Pakistan has introduced a more formal method for taxing income earned through social media, giving the Federal Board of Revenue (FBR) a way to estimate a creator’s income rather than relying only on the amount they report. The new framework covers both resident and non-resident creators earning from interaction with users in Pakistan, although the rules differ between the two. How FBR can now…
Pakistan’s budget is a story of choices under pressure
A PKR 18.8tn spending plan can look expansive. Its composition tells a sterner story: old obligations are competing with new ambitions for the same rupee.
Interest payments absorb more than two-fifths of Federal expenditure
Interest payments have become the budget’s gravitational force. Everything else must negotiate around them.
Punjab carries the largest provincial development plan
Scale gives Punjab the biggest development allocation among the four annual provincial plans—but size is only the beginning of the argument.
Tax receipts provide nearly three-quarters of gross Federal revenue
The revenue plan leans heavily on taxation, while a sizeable non-tax component makes the total more exposed to one-off and administratively determined receipts.
Province statements report PKR 8.9tn in Federal-receipt controls
Official provincial Federal-receipt controls and the Federal NFC control differ slightly. The honest response is to preserve the scopes, not manufacture agreement.
Net revenue finances nearly two-thirds of the Federal plan
Net revenue receipts cover 63% of expenditure; borrowing, external receipts and privatisation proceeds complete the published resource framework.