According to sources, Pakistan and the International Monetary Fund (IMF) have made significant progress in virtual negotiations. Sources revealed that the IMF expressed satisfaction over the tough economic decisions taken in the budget, acknowledging the positive role of political parties in the budget. Sources further added that the monetary fund also appreciated the limitation of […]
The Federal Bureau of Revenue (FBR) Chairman has assured the Senate Standing Committee on Finance that the decision will be withdrawn soon. The government had expected to generate revenue of Rs2-3 billion from the sales tax on stationery items. Senator Mohsin Aziz argued that the tax had made stationery items unaffordable for the poor, affecting […]
At the same time, they demanded the government strictly enforce actions including the Track & Trace system, which is already in place but half-heartedly implemented nationwide. This has resulted in regulated sector sales being badly hit and provided an opportunity for illicit cigarette manufacturers and marketers to thrive. While presenting the federal budget in the […]
Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb will present the budget in the National Assembly. Meanwhile, the PML-N parliamentary party meeting has recommended Prime Minister Shehbaz Sharif to raise government employees by 25 percent. Pakistan to present Rs18 trillion budget today The meeting also suggested the prime minister increase grade 17-22 employees’ salaries […]
This includes ending GST exemptions on approximately 7,000 items, as well as eliminating exemptions and concessions on income tax and customs duty. The volume of tax exemptions will be reduced. The National Economic Survey for 2024-25, released on Tuesday, revealed significant insights regarding tax exemptions. The survey indicated that tax exemptions amounting to Rs 3,979 […]
the International Monetary Fund (IMF) has conditioned the reduction of income tax slabs. The proposal includes an increase of 10 percent in tax on the monthly income of salaried class between Rs 3-5 lakh, enhancing the maximum tax limit from 35% to 45% and applying the maximum tax limit to annual income exceeding Rs 60 […]
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 […]
