The IMF reportedly raised objections to several government proposals, particularly additional power subsidies for domestic consumers. It also dismissed the government’s plan to reduce electricity tariffs for industrial users, demanding the timely tariff hikes during the next fiscal year. IMF emphasized the need to implement a comprehensive plan to eliminate circular debt in FY2026. This […]
Minister of State for Climate Change & Environmental Coordination Dr. Shezra Mansab Ali Khan Kharal introduced the bill in the Senate. The proposed legislation is aimed at making it mandatory for civil servants in grade 17 and above to declare their domestic and foreign assets, as well as those of their spouses and children, to […]
According to the Sindh Revenue Board (SRB), the super tax on agricultural income will be applicable from January 1, 2025, and will be collected on an annual basis. The super tax will not be applied to individuals earning less than Rs 150 million annually. As per the structure, a 1 percent super tax will be […]
ABAD, in its recommendations, has urged comprehensive tax relief and structural reforms for the construction and development sector. ABAD has called for a 15-year relaxation in tax rates specific to the real estate and construction industry, emphasizing long-term policy stability. In the FY2025- 26 budget proposals, ABAD Chairman Hassan Bakhshi included several significant suggestions aimed […]
According to details, the premier has proposed a Rs250 billion cut in FBR’s tax collection target for the next budget. Efforts are underway to persuade the IMF to accept this revision. Sources revealed that FBR has formally requested to lower its tax target from Rs14,307 billion to Rs14,057 billion. The rationale behind the proposal is […]
According to sources, the IMF made this demand during virtual discussions with provincial governments, focusing on expenditure plans for the 2025-26 fiscal budget, with provinces actively participating in these sessions. The IMF proposed that provinces eliminate their dependence on federal funds by independently raising resources, including enforcing an income tax on agricultural earnings exceeding PKR […]
The prime minister, chairing a review meeting on broadening the tax base and increasing tax revenue, said that the individuals and sectors capable of paying taxes must be brought into the tax net. He also instructed the stringent accountability of officers and personnel assisting the tax evaders, according to a PM Office press release. The […]
The FBR has however managed an impressive 30% year-over-year income rise in spite of this shortage, with total revenues from July to April surpassing Rs 8,500 billion. With a target of Rs 10,130 billion for the period, the income gap from July to April is Rs 815 billion. Rashid Mahmood Langrial, the chairman of the […]
Chairing a meeting on investor participation in digital reforms at the Federal Board of Revenue, PM Shehbaz praised the business community’s growing worth and IT entrepreneurs’ valuable services globally. Appreciating the investment pledges of $700 million in Pakistan’s IT sector during the Digital Investment Forum held under the Digital Cooperation Conference, he said that Pakistan […]
According to sources, virtual discussions are held between Pakistan and the International Monetary Fund (IMF) as preparations for the budget are underway. The FBR’s target will be determined based on the estimated GDP size for the next fiscal year. For the current fiscal year, a tax-to-GDP ratio of 10.6% is expected to be achieved, with […]
