THE government is desperate to increase its abysmally low tax collection to meet the stringent revenue conditions of the new $7bn funding programme approved by the IMF recently. In order to meet the tax target, the FBR has worked out a new compliance and enforcement plan, which primarily relies on punitive actions against tax evaders and cheaters. The authorities hope that it will compel existi
Over the last few weeks, local and international media have reported a “massive” oil and gas find in the offshore territory of Pakistan. According to some estimates, the find could be the “fourth largest” oil and gas reserve in the world. That would be a game-changer in more than one way. Today, Venezuela has the largest amount of oil reserves, with over 300 billion barrels of crude oil, follow
Pakistan’s domestic politico-judicial crisis has seemingly reached a point of no return. The apex court wants to keep the democratic spirit of the Constitution alive, but differences between the top judges continue to add to political uncertainty. The Election Commission, too, is apparently not independent. Simultaneously, terrorism and militancy continue to grow in Balochistan and Khyber Pakht
Cash-strapped Sri Lanka’s economy recorded falling consumer prices for the first time in 39 years, official data showed on Monday, with the September inflation figure dipping to negative 0.5 per cent. Census and Statistics Department data showed price drops in both food and non-food goods contributing to deflation in September, compared to inflation of 0.5pc in August. Sri Lanka last recorde
The federal government on Monday slashed the petrol price by Rs2.07 and that of high-speed diesel (HSD) by Rs3.4 per litre for the next fortnight. “The federal government continues to provide relief to the people. The price of petroleum products has decreased once again,” said a statement issued by state broadcaster PTV. It said the new petrol price was now Rs247.03 and that of HSD was Rs246