govt
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Punjab govt discontinues Rs14 per unit electricity subsidy for Islamabad consumers
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[ad_1] A technician fixes new electricity meters at a residential building in Pakistan. โ AFP/File A subsidy of Rs14 per unit in the electricity bills for the consumers of the federal capital announced in August for two months has been suspended by the Punjab government,ย the Islamabad Electricity Supply Company (IESCO) said in a statement on…
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Govt struggles to expand tax base as illicit trade surges | The Express Tribune
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[ad_1] LAHORE: The government of Pakistan is facing significant challenges in widening its tax base while simultaneously combating the rise of smuggling and illicit trade, both of which could generate crucial revenue for the national economy. Efforts to bring more traders into the tax net have shown limited success, highlighting the complexity of the issue.…
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Govt introduces new pension scheme for all federal employees | The Express Tribune
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[ad_1] ISLAMABAD: The government has introduced a new contributory pension fund scheme for all federal government employees, according to an office memorandum issued by the Ministry of Finance on Tuesday, Express News reported. The memorandum states that the scheme will apply to all employees hired on a permanent basis from 1st July 2024 onwards. It…
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Economist Kaiser Bengali quits govt committees | The Express Tribune
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[ad_1] ISLAMABAD: Irked by government policies, Dr Kaiser Bengali, a member of three government committees, has stepped down from all positions. Citing his reason for quitting the government committees, the economist said the government did not seem serious in reducing its expenditures. The committees whose membership Kaiser Bengali has quit include the Austerity Committee, the…
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Govt cuts fuel prices: Petrol down by Rs1.86, HSD by Rs3.32 per litre | The Express Tribune
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[ad_1] On Saturday, the federal government announced a reduction in fuel prices, with the cost of petrol falling by Rs1.86 to Rs259.10 per litre, effective from midnight tonight. High-speed diesel (HSD) has also seen a price cut, dropping by Rs3.32 per litre to Rs262.75. Similarly, the price of kerosene oil has been reduced from Rs171.77…
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Govt to ‘retire Rs18.7tr debt this year’ | The Express Tribune
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[ad_1] ISLAMABAD: The federal government has released details of domestic and foreign debts up to June of this year. It has also shared a framework for the repayment of domestic and foreign debt over the next 16 years. According to the information presented by the Ministry of Finance in the National Assembly, by June of…
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Govt misses IMF-dictated tax target | The Express Tribune
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[ad_1] ISLAMABAD: In a significant setback, the government has missed its two-month tax collection target by a wide margin of Rs111 billion, despite imposing a record Rs1.8 trillion in new taxes in the budgetยexacerbating economic hardship for citizens. This shortfall casts serious doubt on the credibility of the national budget and the feasibility of the…
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SBP head says govt plans to secure $4bn from Middle Eastern banks
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[ad_1] SBP Governor Jameel Ahmad addressing a press conference in Karachi on January 29, 2024, in this still taken from a video. โ Facebook/@StateBankofPakistanPakistan seeks to raise $4bn from ME banks by next fiscal year KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad has stated that the government wants to raise up to $4…
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Govt makes irregular spending on MPs’ projects | The Express Tribune
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[ad_1] ISLAMABAD: In an irregular move, the federal government spent Rs110 billion on development schemes after the end of June as part of last fiscal year’s public sector development spending. The funds were allocated to projects favored by parliamentarians and the ruling parties. Despite implementing a cash-based accounting system that also required surrendering the surplus…
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Govt to streamline remittances | The Express Tribune
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[ad_1] ISLAMABAD: The Executive Director of the State Bank of Pakistan, Syed Sohail Jawad, announced on Saturday that the government is committed to integrating overseas Pakistanis into the national financial system. Speaking on PTV News, he acknowledged the challenges faced by overseas Pakistanis in sending money to their families in Pakistan, citing the process as…
