KARACHI: The government has allowed tax exemptions and concessions of Rs1.314 trillion during the outgoing fiscal year 2020/21, which is 14.26 per cent higher than the preceding fiscal year. The total tax exemptions and concessions during the fiscal year 2019/20 were at Rs1.15 trillion, according to the Economic Survey of Pakistan released on Thursday. The … Read more
KARACHI: Finance Minister Shaukat Tarin has said that 9 per cent growth in the large scale manufacturing (LSM) along with robust services sector performance enabled the country post 3.94 per cent GDP growth in the first nine months of the current fiscal year. Unveiling the Pakistan Economic Survey 2020/21 on Thursday, Tarin said that the … Read more
KARACHI: The Finance Ministry has estimated a 7 per cent fiscal deficit for the outgoing fiscal year, despite reduction in the expenditures and increase in revenues. According to the Economic Survey of Pakistan released on Thursday, the fiscal deficit has been estimated at 7 per cent of GDP during the outgoing fiscal year 2020/21, compared … Read more
Budget 2021-22: The federal budget is scheduled to be announced on June 11, but Revenue Division sources say top tax officials are still discussing key revenue measures. According to the report, contrary to the claims of the government’s economic team that the forthcoming budget will be tax-free, in fact, the budget is expected to impose … Read more
The Punjab Home Department has proposed to allocate funds for development schemes worth over Rs1.9 billion in the budget for the next financial year. According to sources, the Home Department has sought funds for development schemes worth over Rs1.9 billion for the next financial year, with 50 to 70 per cent of these funds likely … Read more
KARACHI: The government is ready to present the Federal Budget 2021-22 on Friday (June 11), keeping in mind the impact of the coronavirus pandemic, which has badly affected the world economies. Federal Finance Minister Shaukat Tarin will present the budget in the parliament. Sources said the budget would focus on measures to mitigate the sufferings … Read more
Optimism runs high: The upcoming Federal Budget 2021/22 is likely to target economic growth and structural reforms, analysts said on Tuesday. The federal government is scheduled to announce the budget on June 11. “We expect the budget to remain accommodative and should target economic growth and sound structural reforms side-by-side,” analysts at Insight Securities said. … Read more
Bilawal Bhutto Zardari has said that Imran Khan’s plan to reward PTI Members with Rs 96 billion in the budget in the worst economic crisis is public hostility. In a statement, PPP Chairman Bilawal Bhutto Zardari sharply criticized the poor economic policies of the PTI government, saying that the PTI government could not cover up … Read more
Pakistani automotive industry is flooded with the new automakers. Although it has been a positive development for the industry, people are still yearning for more affordable cars in the market. According to current news, the government is considering dropping taxes on vehicles with an engine transposition of 800cc or less in order to ease people … Read more
Budget 2020-21 Live: Pakistan Tehreek-e-Insaf-led Federal government announces the budget for this fiscal year. This is the second budget to be proposed by PTI. The PTI-led government had announced its first budget in June 2019 and prices of different commodities and taxes on them were decided to be followed in Pakistan. Important Features of Budget … Read more
The federal government has announced a significant allocation in the budget for the next financial year for the financial assistance and welfare of artists. According to the details, the Federal Minister for Industries and Production said that artists are a valuable asset to our country. On the directive of the President, the Government of Pakistan … Read more
Minister for Industries and Production Hamad Azhar presented the budget for the next financial year in the National Assembly in which the budget for various sectors, including education and health. According to the budget documents, the budget for education and services has been increased by about 7.9% for the next financial year. It should be … Read more
Minister for Industries and Production Hamad Azhar presented the budget for the next financial year in the National Assembly in which the budget for various sectors, especially health, has been doubled. In the budget for the next financial year, the amount allocated for health has been significantly increased to more than Rs. 25 billion. The … Read more
Pakistan Muslim League-Nawaz (PML-N) President and Leader of the Opposition Shehbaz Sharif has rejected the second federal budget presented by the Pakistan Tehreek-e-Insaf (PTI) government termed it as anti-people. Shehbaz Sharif said that this budget will lead to a further rise in inflation and unemployment, while the business downturn has set a historic record.” The … Read more
Prime Minister Imran Khan has called a special meeting of the Federal cabinet today regarding Budget 2020-21. According to details, a special cabinet meeting will be held in which officials will discuss the budget 2019-20 budget. The federal budget for this year is likely to be approved as well. The cabinet will be given a … Read more
Advisor to the Prime Minister on Commerce and Investment Razak Dawood said on Wednesday that the government will make sure new job creation in budget 2020-21 to execute its true vision in the country. The advisor said to the sources that the government will follow the three-prong strategy to accomplish the objective of producing economic … Read more
