I A Mayburov (2007) defines the Tax System as ‘a system that is a principle-based integral unity of its main interconnected and interrelated elements. These elements are the regulatory legal basis of taxation, the set of taxes and fees, the payers of taxes and fees, and the mechanism of tax administration’. Considering these elements in relation to Pakistan’s tax system reveals the need for compre
KARACHI: The stock market maintained a bullish trend in the outgoing week due to aggressive value-hunting, propelling the KSE 100-share index to an all-time high, closing above 67,000, on persistent optimism about economic stability, PIA privatisation and expected inflows from the IMF next month after reaching a staff-level agreement. AKD Securities Ltd said the first four sessions cumulatively
Some believe that Pakistan’s real risks are on the external side, and the country should focus on raising money to refinance and service its external debts. However, given its low credit rating, it seems highly unlikely that Pakistan will be able to raise money from the international debt markets soon. Moody’s Investor Service noted in its report of Feb 27 that Pakistan’s “ca” fiscal rating ref
Last week, Finance Minister Muhammad Aurangzeb reported “very good progress” on privatising loss-making Pakistan International Airlines (PIA) and outsourcing three airports. Meanwhile, the Privatisation Commission of Pakistan is reportedly busy devising a new three-phase strategy to privatise state-owned entities (SOEs), barring those considered of national or strategic importance. The curr
The country is stuck in a low-growth trap. A shift in the economic model from consumption to export-oriented growth necessitates the availability of affordable electricity. The age-old practice of passing on prices to the consumer will only add more burdens on the consumer and further restrict growth. Electricity consumption per capita has consistently declined over the last five years, wherein