KARACHI: The rupee continued its gaining momentum on Thursday, owing to harsh taxation measures taken by the government through the mini-budget, dealers said. The local currency gained Re1 to close at Rs264.38 against the greenback from the previous day’s closing of Rs265.38 in the interbank foreign exchange market. The local unit recovered Rs12, or 4.41 … Read more
KARACHI: The Executive Board of the International Monetary Fund (IMF) has scheduled a meeting on January 28 for Pakistan’s sixth review under the Extended Fund Facility (EFF). The discussion, ‘2021 Article IV Consultation, Sixth Review under the Extended Arrangement under the Extended Fund Facility, and Requests for Waivers of Nonobservance of Performance Criteria and Rephasing … Read more
KARACHI: Import restrictions introduced through the Finance Supplementary Bill is expected to help the rupee remain stable next week. However, a surge in the international oil prices may prove otherwise. The National Assembly on January 13, 2022 approved the Finance (Supplementary) Bill, 2021. Through the legislation, the government withdrew exemptions and concessions worth Rs343 billion. … Read more
President Dr Arif Alvi on Saturday approved the Finance (Supplementary) Bill 2022 under article 75 of the Constitution. The bill, generally known as ‘mini-budget’ and drew ire of the opposition, was passed in the National Assembly (NA) on January 13. صدر مملکت ڈاکٹر عارف علوی نے آئین کے آرٹیکل 75 کے تحت فنانس (سپلیمنٹری) بل، … Read more
National Assembly on Thursday passed the Finance (Supplementary) Bill, 2021 by majority vote with certain government amendments amid opposition parties’ sloganeering. All the amendments moved by the opposition parties including Pakistan Peoples Party and Pakistan Muslim League-Nawaz had been rejected with the majority vote. Read more: NA rejects opposition’s amendments on mini-budget The speaker ordered the … Read more
ISLAMABAD: Minister for Finance and Revenue Shaukat Tarin on Monday said that the reforms measures being taken by the incumbent government would help bring the whole retail sector worth Rs20 trillion into the tax net. “The total sale of retail sector in the country is Rs20 trillion, and Rs16 trillion of it is not in … Read more
