The Pakistan Muslim League-Nawaz (PML-N) led federal government will present its first growth-oriented budget for the fiscal year 2024-25, with an estimated outlay of over Rs18 trillion. According to proposals, Pakistan has planned to get tax from the real estate sector in three slabs. Filter buying property worth Rs50 mln will have to pay 3 […]
In case of no reply from them, the non-filers mobile phone sims, electricity, and gas will be disconnected,” according to sources. “The process of blocking sims of non-filers will continue in the next financial year, The government has devised a plan to enhance tax collection in the next financial year’s budget being tabled in the […]
The prime suspect, Sheikh Rashid, and his partners are under direct investigation for allegedly embezzling billions of rupees from sugar dealers and traders. NAB DG Lahore has formed a team to conduct immediate investigations, and the inquiry has begun against Sheikh Rashid, Kashif, and Faisal. The NAB spokesperson said that Sheikh Rashid’s four warehouses in […]
According to sources, the proposed budget stands at Rs. 11.82 billion, which includes Rs. 4.84 billion for employee-related expenses and Rs. 6.97 billion for development projects. Additionally, Rs. 993 million has been allocated for the IT Ministry’s projects, while Rs. 6.98 billion for SCO, Rs. 1.5 billion for NITB, Rs. 1 billion for Pakistan Software […]
The government will present the budget 2024 with one eye on precarious economic conditions and the other on the 24th ‘longer and larger’ bailout program of the International Monetary Fund (IMF). According to sources, the initial estimate for expenditures on interest and loans is Rs 9,700 billion, while the initial estimate for subsidies is Rs […]
According to sources, the government is considering relief for industries in the upcoming budget 2024-25. Sources said that the electricity tariff may be reduced for industrial consumers, who currently pay an additional Rs 240 billion in electricity bills. According to sources, the Ministry of Industry and Production is working on various proposals to reduce power […]
According to sources, the IMF has asked the Ministry of Energy to increase the electricity tariff from Rs5 to Rs7 per unit in July. The IMF has expressed concern over the failure to achieve the targets, and the power sector’s circular debt is expected to reach Rs 2500 billion by the end of the current […]
The decision was taken during Federal Finance Minister Muhammad Aurangzeb’s visit to the Federal Board of Revenue (FBR) headquarters. Attorney General for Pakistan Mansoor Usman Awan was also present in the meeting. Government officials said the FBR had briefed the finance minister about its decision to disable the mobile phone SIMs of 506,671 individuals, who […]
The sources privy to the development said that the CPPA has proposed a tax of Rs 2,000 per kilowatt on residential and commercial consumers installing 12 kilowatts or more. The CPPA’s recommendation, which was sent to the Ministry of Energy (Power Division) for approval, has now been forwarded to Prime Minister Shehbaz Sharif for final […]
The FBR will kick-start registration in Tajir Dost Scheme in four cities Karachi, Lahore, Peshawar Islamabad, and Rawalpindi in the first phase and the tax collection will be made effective from July 1. The notification regarding the mandatory registration of retailers has been issued. Under the scheme, the traders who pay their tax before 15 […]
