THERE are two critical dialogues taking place between the governments of China and Pakistan. One of them concerns the rescheduling of payables owed to Chinese project sponsors by the government of Pakistan. The second revolves around protection of Chinese investments and nationals in Pakistan in the wake of deadly attacks. There is now a string of statements from Chinese officials, going back a
The International Monetary Fund (IMF) has sought a detailed, output-based update on Pakistan’s digitalisation plans for its revenue system, including the use of artificial intelligence to expand the tax base and increase collections. On the energy side, the country has pledged to halt gas supply to captive power plants (CPPs) by January 2025, redirecting them to the national grid despite a stro
In order to reduce a startling tax gap of more than Rs6 trillion, the Economic Coordination Committee (ECC) of the cabinet on Tuesday approved five proposals to transform the Federal Board of Revenue (FBR) at an estimated cost of Rs25 billion. The ECC meeting, chaired by Finance Minister Muhammad Aurangzeb, also approved a technical supplementary grant for the Pakistan Post Office Department an
For the second fortnight, the prices of major petroleum products — petrol and high-speed diesel (HSD) — are estimated to go up again about Rs4-5 per litre from Nov 16 for a fortnight owing to higher international prices and import premium on petrol. Informed sources said the average prices of petrol and HSD increased in the international market by about $1.7 and $4.4 per barrel, respectively, i
The International Monetary Fund (IMF) is reported to have expressed satisfaction over the increase in the tax-to-GDP ratio by nearly 1.5 percentage points, relieving the authorities from any push for additional tax measures through a mini-budget. According to sources closely involved in ongoing discussions with the visiting IMF mission, the Federal Board of Revenue’s (FBR) revenue collection t