Finance Minister Muhammad Aurangzeb on Tuesday announced the government’s plan to increase the tax-to-GDP ratio from the current 10 per cent to 13.5pc within the next three years, stressing that the proposed amendments to tax laws would improve tax collection and compliance in the country. The minister made these remarks during a meeting of the Senate Standing Committee on Finance and Revenue,
The government borrowings from banks for budgetary support were negative during the first half of the current fiscal year ending Dec 31, indicating higher liquidity in the national exchequer. The State Bank’s latest data for the July 1 to Dec 13 period showed a net debt retirement of Rs2.03 trillion against a net borrowing of Rs2.875tr in the same period last year. Experts believe this is hi
Taiwan has rejected ride-hailing giant Uber’s plan to buy Delivery Hero’s Foodpanda on the island, stating on Wednesday that the deal would significantly harm market competition. The US ride-hailing giant was aiming to acquire Foodpanda Taiwan by the first half of 2025 for US$950 million, merging the top two players in Taiwan’s food delivery market. “If Uber acquires Foodpanda, it will be c
The Asian Development Bank has proposed a risk-layered structure to stimulate, develop and implement financially sustainable and scalable disaster risk financing strategies and solutions to enhance the enabling environment for epidemic and pandemic risk financing. The ‘Country Diagnostics Assessment: The Enabling Environment for Epidemic and Pandemic Risk Financing in Pakistan’ report says the
Domestic prices of liquefied petroleum gas (LPG) in Russia halved in December from the previous month due to an influx of the fuel, exports of which have been curbed by European sanctions, Reuters calculations showed. The European Union’s sanctions against Russia’s LPG took effect on Dec. 20. The restrictions were proposed last year by Poland, one of Russia’s largest LPG importers. LPG, or p