Budgets

The government looks set to reverse tax concessions extended by the PML-N government to benefit high-earning salaried and non-salaried individuals substantially more than the middle-class workforce. ISLAMABAD: The government looks set to reverse tax concessions extended by the PML-N government to benefit high-earning salaried and non-salaried individuals substantially more than the middle-class workforce. “We are […]

With crucial meetings of the National Economic Council (NEC) and the federal cabinet lined up for the next few days, the government on Sunday firmed up budget proposals, including targets for taxation measures, for 2019-20. ISLAMABAD: With crucial meetings of the National Economic Council (NEC) and the federal cabinet lined up for the next few […]

ISLAMABAD: The meeting of the National Economic Council (NEC), chaired by Prime Minister Imran Khan, approved the National Development Outlay 2019-20 amounting to Rs1.837 trillion, including the federal Public Sector Development Programme (PSDP) and provincial Annual Development Plans (ADPs). The meeting, which was held at the PM Office, reviewed the Annual Plan 2018-19 and the proposed […]

ISLAMABAD: With crucial meetings of the National Economic Council (NEC) and the federal cabinet lined up for the next few days, the government on Sunday firmed up budget proposals, including targets for taxation measures, for 2019-20. Sources said a meeting presided over by Prime Minister’s Adviser on Finance and Revenue Dr Abdul Hafeez Shaikh discussed […]

The current account deficit has narrowed down by 27 percent in the 10 months of the current financial year 2018-19, which is $4.2 billion lower than the deficit recorded in the last financial year. The reduction is mainly driven by import compression and a healthy growth in workers’ remittances. According to the data updated by […]

ISLAMABAD: The budget deficit hit an 11-year high at Rs1.92 trillion, or 5% of the size of national economy, for the nine-month period ended March 2019 due to continued double-digit growth in defence and debt spending, and sinking revenues. From July through March FY19, the gap between expenditures and revenues was recorded at Rs1.922 trillion […]

ISLAMABAD: In an apparent attempt to conceal the worsening fiscal position, the government has declared a spending of Rs212 billion as a statistical discrepancy aimed at nullifying the impact of lower-than-targeted revenue collection and excessive current expenditures. According to a summary of fiscal operations for financial year 2015-16 that the Ministry of Finance released on Wednesday, […]

ISLAMABAD: A Senate panel on Thursday approved the State Bank of Pakistan (SBP) Amendment Bill 2015, giving more autonomy to the central bank in monetary policy decision-making, besides extending a four-year lease to the federal government in retiring its borrowings from the SBP.  The government, for the time being, also remained successful in keeping its hold […]

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