Pakistan has asked the IMF to change the size of the programme from $6 billion to $8 billion. An 11 percent sales tax on petroleum products will be implemented beginning July 1, 2022. Furthermore, a levy of Rs 50 per litre on petroleum goods has been decided. The talks between Pakistani authorities and IMF personnel … Read more
KARACHI: Pakistan’s economy is again at crossroads mainly due to its inconsistent economic policies and weak implementation of structural reforms. This is evident from the Budget FY22, by way of which the fiscal policy became expansionary and several key EFF commitments were reversed to spur growth; which also included low petroleum development levy (PDL) and … Read more
The Federal Board of Revenue (FBR) has decided in principle to move towards replacing the existing General Sales Tax (GST) with Value Added Tax (VAT) across the board for all sectors under the World Bank funded loan conditions. Under the proposed reform plan on which the implementation was so far deferred till establishment of Pakistan … Read more
