govt
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Govt requests $2b loan rollover | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has made another request to China for the rollover of $2 billion worth of debt maturing soon but it forgot to book Chinese and International Monetary Fund (IMF) loans in the budget, underreporting foreign borrowing by $7 billion for the next fiscal year. Finance Minister Miftah Ismail admitted on Saturday that the…
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Govt focusing on fiscal consolidation, relief to masses: Miftah | The Express Tribune
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[ad_1] Finance Minister Miftah Ismail on Saturday said the target of next year’s budget is fiscal consolidation and providing relief to the masses, a day after the government presented a Rs9.5 trillion inflationary budget a day earlier to meet ambitious targets. The new budget for the fiscal year 2022-23 provides solace to the salaried class whose tax…
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Govt eyes Rs740b in additional taxes | The Express Tribune
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[ad_1] ISLAMABAD: The coalition government on Friday proposed slapping Rs740 billion in additional taxes, targeting commercial banks, real estate, retailers, foreign assets of Pakistanis, commercial importers and consumers of petroleum products. Of Rs740 billion, Rs300 billion will be generated through the single largest measure – increase in petroleum levy rate from Rs30 to Rs50 per…
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Govt revises taxable income limit to Rs100,000 | The Express Tribune
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[ad_1] KARACHI: The coalition government has doubled the limit of exemption from income tax imposed on earning for the salaried individuals to Rs100,000 per month with effect from July 1, 2022 — increasing it from the earlier Rs50,000 per month. Besides, it has cut the income tax rates on earnings of more than Rs100,000 per…
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Govt unveils Rs9.5 trillion federal budget for 2022-23 | The Express Tribune
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[ad_1] The coalition government headed by the Pakistan Muslim League-Nawaz (PML-N) has started presenting its “growth and investment-oriented” budget for Financial Year 2022-23 in the National Assembly. Miftah Ismail, while presenting the budget proposals, said that out of total Rs9.502 trillion budget, an amount of Rs3,950 billion had been allocated for debt servicing and Rs800…
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PTI govt gave Rs5.2tr tax breaks in four years | The Express Tribune
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[ad_1] ISLAMABAD: The previous government of Pakistan Tehreek-e-Insaf (PTI) gave away a record Rs1.76 trillion in tax exemptions to the affluent and foreign investors during the outgoing fiscal year, taking the total cost of such exemptions in four years to a whopping Rs5.2 trillion. The Pakistan Economic Survey 2021-22 revealed that there was a 34%,…
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Govt to scrap tax on power subsidy | The Express Tribune
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[ad_1] ISLAMABAD: The government has decided to resolve the controversy over the tax on subsidy being doled out to electricity consumers and decided to remove the levy in the upcoming budget for fiscal year 2022-23. The tax on subsidy has been a chronic issue between the power distribution companies and the Federal Board of Revenue…
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IMF asks govt to reopen CPEC deals | The Express Tribune
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[ad_1] ISLAMABAD: The International Monetary Fund (IMF) has asked Pakistan’s government to renegotiate the China-Pakistan Economic Corridor (CPEC) energy deals before making payments of around Rs300 billion to the Chinese power plants, putting Islamabad in a tight spot. The global lender has asked the government to treat the Chinese CPEC power plants at par with…
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Govt mulls early closure of markets to conserve energy: sources
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[ad_1] Prime Minister Shahbaz Sharif chairs a meeting of the federal cabinet. -PM Office/File ISLAMABAD: The federal government is considering different options, including an early closure of markets to conserve energy amid the rising prices of petroleum products, Geo News reported Tuesday, citing sources. A meeting of the Federal Cabinet is underway, during which measures…
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Govt asked to consult traders on market hours | The Express Tribune
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[ad_1] ISLAMABAD: Special Assistant to the Punjab Chief Minister Malik Abrar Ahmed has said that the business community is playing a vital role in the development of the economy and the government will take all possible measures to resolve the key issues. He assured businessmen that their suggestions for the betterment of the economy would…
