The imposition of sales tax on luxury fuel is on the cards while the government also considers increasing the rate of the petroleum levy with the imposition of 17% general sales tax (GST) in a bid to collect around Rs9 billion in taxes annually. This is in line with contingency measures to keep revenue collection on target, as agreed with the International Monetary Fund (IMF). The Economic Coor
Agriculture experts, on Monday, said that the ongoing rains will positively impact all seasonal major and minor crops, fruits and vegetables. The rains will be particularly beneficial for wheat, which is a major cash crop and a mega source of staple food in the country, they said. “The rains will have a positive impact on wheat sown in rain-fed areas across the country as well as on oil seed
The Economic Coordination Committee (ECC) of the cabinet on Monday approved a Rs531 billion prime minister’s agriculture package, with little impact on the budget, but deferred a decision on providing subsidised electricity to tube-wells due to its nearly Rs180 billion subsidy impact. Finance Minister Ishaq Dar chaired the ECC meeting, which approved the PM’s package with at least two amendment
Would you believe that out of every 100 rupees the federal government spends each year, Rs52 goes on debt servicing? Sadly, this is true. During July-September 2022, the current expenses of the federal government totalled Rs1.832 trillion. Of this, Rs954 billion was used for domestic and foreign debt servicing, according to the quarterly fiscal review. Domestic debt servicing alone consumed Rs8
Pakistan’s exports to nine regional countries posted a paltry growth of 0.72 per cent in the first quarter (July to September) of 2022-23 from a year ago, the latest data released by the State Bank of Pakistan showed. The country’s exports to Afghanistan, China, Bangladesh, Sri Lanka, India, Iran, Nepal, Bhutan and the Maldives account for a small amount of $953.113 million — just 13.27pc of Pa