govt
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WHT agents to directly deposit tax in govt account | The Express Tribune
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[ad_1] ISLAMABAD: To prevent withholding tax (WHT) evasion and promote documentation, the federal government has decided to make it mandatory for withholding agents to immediately and directly deposit the tax collected from suppliers of goods and services in national coffers. The Federal Board of Revenue (FBR) has developed a swift payment receipt system for immediately…
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Govt to phase out export financing | The Express Tribune
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[ad_1] ISLAMABAD: After giving it for 50 years, the government on Wednesday pulled the plug on a hidden export subsidy scheme and approved its transfer to the federal budget but rejected a proposal to increase the wheat support price to Rs4,000 per 40 kg. The Economic Coordination Committee (ECC) of the cabinet, which made those…
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Investment in govt debt hits record | The Express Tribune
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[ad_1] KARACHI: The parking of bank deposits in the safe-haven government debt securities hit a new high at 92% in November 2023, leaving very little financing for the private sector, which has remained the engine of economic growth. According to State Bank of Pakistan’s (SBP) latest data on commercial bank deposits, investments and advances, the…
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Govt resolves disputes with KE | The Express Tribune
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[ad_1] ISLAMABAD: The interim government on Friday approved the finalisation of four deals with the country’s largest privately-managed power firm, K-Electric (KE), ending years-old disputes over power purchase payments and the supply of electricity. This decision sends a positive signal to foreign investors. The Economic Coordination Committee of the Cabinet approved the signing of the…
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Govt cuts petrol price by Rs14, HSD by Rs13.50 per litre | The Express Tribune
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[ad_1] The caretaker federal government has slashed the price of petrol by Rs14 per litre and high-speed diesel (HSD) by Rs13.50 per litre on Friday, providing much-needed relief to the people who have borne the brunt of a challenging economic crisis since mid-2022. The reduction came after the price of crude oil fell in international markets and…
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Govt poised to float Rs30b Sukuk at PSX | The Express Tribune
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[ad_1] KARACHI: In a first, the Pakistan Stock Exchange (PSX) is all set to facilitate the government in raising Rs30 billion through the auction of one-year Ijarah Sukuk on Friday (today), potentially at a lower rate of return, which the common man can buy with investment of as low as Rs5,000. Talking to The Express…
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Govt asked to slow down work on ML-I financing deal | The Express Tribune
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[ad_1] ISLAMABAD: The Economic Affairs Division (EAD) has advised the government to go slow in finalising a financing agreement for nearly $6 billion in Chinese loan for the Mainline-I (ML-I) project of the China-Pakistan Economic Corridor (CPEC) aimed at avoiding complications in the implementation of the mega scheme. The advice came amid serious objections raised…
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Govt, banks at stalemate over PIA debt restructuring | The Express Tribune
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[ad_1] ISLAMABAD: The government and commercial banks have failed to break an impasse over the restructuring of Pakistan International Airlines’ (PIA) Rs260 billion debt, compelling authorities to grant yet another extension to a committee attempting to find a solution. Sources from the Privatisation Ministry stated that Finance Minister Dr Shamshad Akhtar has not accepted any…
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‘Caretaker govt committed to attracting FDI’ | The Express Tribune
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[ad_1] LAHORE: Caretaker Punjab Minister for Transport and Livestock, Ibrahim Hassan Murad, reiterated the caretaker setup’s commitment to attracting foreign investment as a crucial response to the challenges facing the country. Murad highlighted ongoing efforts, stating, “Contracts are being signed with different countries, especially with China, to promote bilateral trade and investment.” He expressed the…
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Govt debt may soar to Rs81.8tr | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has projected the federal government’s total debt obligations will skyrocket to Rs81.8 trillion by the end of this fiscal year while budget deficit and interest payment costs will exceed approved allocations. Due to unrealistic budgetary allocations, the IMF has now projected the size of Pakistan’s federal budget at…
