Finance Minister Abdul Majid Khan presented the budget estimates for the fiscal year 2025-26 and revised estimates for the current fiscal year in the Legislative Assembly session chaired by the speaker Ch. Latif Akbar. Finance Minister said that the total estimate for the upcoming fiscal year, including development and non-development expenditure, was set at Rs. […]
Talking in a federal cabinet meeting, Shehbaz Sharif thanked the International Monetary Fund (IMF) for consenting to the issue. Prime minister said that the government has decided to impose one percent tax on the six lacs to 1.2 million annual incomes. Shehbaz Sharif said that the government employees’ salaries have been enhanced by 10 percent. […]
“The country has so far imported 2.25 billion solar panels,” as per the paper came to the knowledge of the media. Pakistan has connected 6271MW of electricity on net metering, an electricity billing mechanism that allows consumers who generate their electricity through solar panels. Moreover, 6506 megawatts of electricity have been installed without the net […]
Chairman PTI Barrister Gohar speaking on the floor of the lower house proposed income tax relief to the salaried class for up to 2.2 million annual income. PTI leader also suggested cut in Rs 16 billion budget allocation for the Parliament. “We are not entitled for the public money,” Gohar said. He criticized the government, […]
Maulana Fazlur Rehman disapproved of the unnecessary taxation policies. He emphasised the need for economic reforms in Pakistan, highlighting that the country must learn from the GDP growth of other countries like China, India, and Bangladesh. While speaking to the media at a press conference in Karachi, Maulana Fazlur Rehman expressed worries over Pakistan’s economic […]
As per details, the journalists were protesting the Federal Board of Revenue’s (FBR) failure to provide a technical briefing on the Finance Bill 2025-26. The briefing, traditionally held to clarify tax proposals for media coverage, was not conducted yesterday. Responding to the boycott, Information Minister Attaullah Tarar acknowledged the journalists’ concerns, stating their grievances were […]
As per details, the government is expected to increase the overall tax target to Rs 2 trillion, and in this context, new taxes worth Rs 600 to 700 billion are likely to be imposed, while the Federal Board of Revenue (FBR) aims to collect Rs 1,200 billion through its tax initiatives. Despite the additional tax […]
According to the budget 2025-26 proposals, the salaries and pensions of the government employees are likely to be raised. However, prospects for significant tax relief for salaried individuals appear dim, as the International Monetary Fund (IMF) has reportedly objected to maintaining the current annual tax-free income threshold of Rs1.2 million. As a result, the government […]
Later, he will lay a copy of the Finance Bill, 2025, containing the Annual Budget Statement before the Senate. Budget 2025-26 summarizes certain relief measures for salaried individuals, including a 10% salary increase for government employees and a 5% to 7.5% increase in pensions for retired civil servants. Employees in Grades 1 to 16 are […]
As part of the new improvements, the Federal Board of Revenue (FBR) is suggesting a tenfold increase in fines, through Point of Sale (POS) systems, for tax fraud, increasing penalties to PKR 5 million from PKR 500,000. Hidden businesses that maintain secret transactions besides the POS system will also experience severe legal actions. In the […]
