Business
FinMin discusses budget preparations, macroeconomic outlook with IMF mission – SUCH TV
Finance Minister Muhammad Aurangzeb on Wednesday briefed the visiting International Monetary Fund (IMF) mission on the country’s macroeconomic outlook, fiscal strategy, reform priorities, and the government’s ongoing efforts to ensure sustainable economic stability and long-term growth.
The meeting with the visiting IMF mission, led by Mission Chief Iva Petrova, focused on Pakistan’s macroeconomic stabilisation efforts, preparations for the upcoming federal budget, and the broader reform agenda aimed at strengthening fiscal and external sustainability while fostering sustainable economic growth.
During the meeting, both sides exchanged views on maintaining reform momentum, preserving macroeconomic stability, and advancing structural reforms to promote investment, productivity, and export-led growth within a balanced and forward-looking policy framework.
The finance minister appreciated the IMF’s continued engagement and constructive dialogue with the government of Pakistan.
He particularly acknowledged the productive discussions initiated during the Spring Meetings held in Washington earlier this year.
Senator Aurangzeb shared encouraging developments regarding Pakistan’s external sector, highlighting positive trends in remittances and export performance.
He noted that recent data indicated improvement in exports on both a month-on-month and year-on-year basis, reflecting growing resilience in the economy and a gradual strengthening of macroeconomic fundamentals.
The minister emphasised that while economic stabilisation efforts had produced encouraging results, the government remained fully mindful of the structural challenges confronting the economy, particularly external liabilities and the need to accelerate sustainable, export-led growth.
He reiterated the government’s commitment to deepening reforms aimed at strengthening macroeconomic stability without compromising long-term growth prospects.
In this regard, he underscored the importance of moving Pakistan away from recurring boom-and-bust cycles through structural reforms, productivity enhancement, deregulation, and improved export competitiveness.
The minister further stated that the government’s reform agenda had been carefully calibrated in consultation with international experts and economists.
He emphasised that the ongoing policy measures were not driven by short-term considerations, but formed part of a broader and technically grounded economic transformation strategy endorsed at the highest level.
The IMF mission acknowledged the positive progress made by Pakistan in maintaining macroeconomic stability despite a challenging global and regional environment.
The Mission appreciated the government’s continued commitment to prudent economic management and reform implementation.
It emphasised the importance of sustaining reform momentum, maintaining fiscal discipline, and advancing structural reforms to support durable and inclusive economic growth.
Discussions during the meeting also focused on the broader macroeconomic framework, the government’s reform agenda, and priorities for the upcoming budget.
The mission reaffirmed its commitment to continued engagement and constructive cooperation with Pakistan in support of the country’s economic reform programme and long-term economic resilience.
Business
Companies start getting tariff refunds after Supreme Court decision
Containers at the Port of Oakland in Oakland, California, US, on Thursday, March 26, 2026.
David Paul Morris | Bloomberg | Getty Images
Months after the Supreme Court ruled some tariffs were unconstitutional, the first round of tariff refunds has begun flowing in.
Oshkosh Corporation CFO Matt Field confirmed to CNBC that the company has started receiving tariff refunds as of Tuesday.
“Following acceptance of our initial filing, we have begun receiving payments on our tariff refund claims, representing an initial portion of our total claims submitted,” Field said.
The company has not yet verified its total refund amount, Field added.
Basic Fun, the company behind Care Bears and Tonka trucks, also told CNBC it began receiving tariff refunds on Tuesday.
CEO Jay Foreman said the refunds so far have only represented 5% of the company’s total claim on its early invoices.
“We will utilize the refund dollars to help support our 2026 cash flow and invest in our team. This is the toughest time of the year for toy companies,” Foreman said in a statement. “We’ll also be announcing to our staff that we will be increasing salaries to help offset cost of living increase, announcing promotions and larger merit increases. We are reinvesting the funds in our business and people.”
Logistics companies UPS, FedEx and DHL have previously said that they will file for tariff refunds on behalf of their customers, requiring no further action from them. The first phase of tariff refunds only covers requests for entries that CBP finalized within the past 80 days, though that process could take months to reach customers.
The U.S. Customs and Border Protection said in a court filing that it anticipated paying refunds of $35.46 billion on 8.3 million shipments, as of Monday morning.
In February, the Supreme Court invalidated President Donald Trump‘s tariffs imposed under the International Emergency Economic Powers Act of 1977. In the months that followed, companies began filing for tariff refunds in a portal, called the Consolidated Administration and Processing of Entries.
In a radio interview with WABC on Tuesday morning, Trump called the tariff refund situation “crazy.”
“In theory, you have to pay the tariffs back. We’ll fight that,” Trump said. “We were taking in fortunes from people that hate us, countries and companies that hate us.”
Business
Tata Motors Q4 results: Net profit rises 34% to Rs 1,793 crore; revenue climbs on strong volume growth – The Times of India
Commercial vehicle maker Tata Motors Ltd on Wednesday reported a 33.8 per cent rise in consolidated net profit at Rs 1,793 crore for the fourth quarter ended March 31, 2026, driven by strong volume growth.The company had posted a consolidated net profit of Rs 1,340 crore in the corresponding quarter of the previous financial year, Tata Motors said in a regulatory filing, as reported PTI.Total revenue from operations in the January-March quarter rose to Rs 26,098 crore from Rs 21,863 crore in the year-ago period.Vehicle wholesales during the quarter stood at 1.32 lakh units, up 25 per cent year-on-year.Total expenses in the quarter under review stood at Rs 24,134 crore.For FY26, consolidated net profit stood at Rs 3,030 crore compared with Rs 3,195 crore in FY25. The company said annual profit was impacted by exceptional items related to the new labour code and demerger-related costs.Total revenue from operations for FY26 increased to Rs 83,855 crore from Rs 58,217 crore in the previous financial year.For the full 2025-26 fiscal, total wholesales stood at 4.28 lakh units, up 14 per cent year-on-year.Commenting on the performance, Tata Motors MD and CEO Girish Wagh said FY26 marked a “clear inflection point” for the commercial vehicles industry, with volumes surpassing the pre-FY19 peak, supported by GST 2.0 reforms and sustained infrastructure spending.“For Tata Motors Commercial Vehicles, FY26 was a landmark year as we delivered milestones of revenues and profits and reinforced industry leadership and strengthened our market position,” he said.Wagh said the underlying demand fundamentals remain resilient despite geopolitical uncertainties signalling some moderation in the near term.“With strong business fundamentals, proactive risk mitigation, disciplined execution and a refreshed portfolio offering industry-leading TCO (total cost of ownership) and smart digital solutions, we remain agile and well positioned to sustain momentum through customer-centric solutions to create long-term stakeholder value,” he added.The company’s board has recommended a final dividend of Rs 4 per fully paid-up ordinary share of Rs 2 each for FY26, subject to shareholders’ approval.
Business
Trains at 220 kmph on Indian Railways soon! Cabinet approves Ahmedabad-Dholera semi high-speed rail project; check details – The Times of India
Trains at the speed of 220 kmph may soon run on Indian Railways with the Cabinet Committee on Economic Affairs, led by PM Narendra Modi, approving a new railway line. The CCEA gave its go ahead for Ahmedabad (Sarkhej) – Dholera semi high-speed double line project on Wednesday. Sabarmati to Dholera travel time will come down to 48 minutes with the new railway line, Railway minister Ashwini Vaishnaw said.The project will come up under the Ministry of Railways at an estimated investment of around Rs 20,667 crore. The corridor will become the first semi high-speed rail project of Indian Railways to be developed using indigenous technology, according to the Cabinet release.The proposed rail line is expected to improve connectivity between Ahmedabad, Dholera Special Investment Region, the upcoming Dholera International Airport and the Lothal National Maritime Heritage Complex. Faster rail access between Ahmedabad and Dholera is likely to significantly reduce travel duration, making daily commuting and same-day return journeys more convenient for passengers. Being India’s first semi high-speed rail corridor, the project is expected to act as a benchmark for the future phased rollout of similar rail networks across the country, the release said.The new railway line is aimed at strengthening direct connectivity and improving mobility while enhancing operational efficiency and service reliability for Indian Railways.The corridor has been planned under the PM Gati Shakti National Master Plan with an emphasis on integrated planning, multimodal connectivity and logistics efficiency through coordination among stakeholders. The initiative is expected to facilitate smoother movement of passengers, goods and services.Spread across the Ahmedabad district of Gujarat, the project will add nearly 134 kilometres to the existing railway network. It is also expected to improve connectivity for nearly 284 villages with a combined population of around five lakh people.As rail transport is considered energy-efficient and environmentally sustainable, the project is expected to contribute towards climate objectives and help reduce the country’s logistics costs. It is also projected to lower oil imports by about 0.48 crore litres and cut carbon emissions by nearly 2 crore kilograms, an impact considered equivalent to planting around 10 lakh trees.
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