ISLAMABAD: The Punjab province got lion’s share of 51.74 percent in budgetary distribution of resources among the federation and provinces while Sindh’s share was 24.55 percent and 14.62 percent and 9.09 percent share would be distributed to Khyber Pakhtunkhwa and Balochistan respectively. According to the Budget Brief, the province-wise ratios were based on multiple indicators […]
budget
Good budget in difficult economic conditions: LCCI
LAHORE: Lahore Chamber of Commerce & Industry (LCCI) said on Friday that the government has presented a good budget in difficult economic conditions. Addressing a press conference soon after the budget speech of Federal Finance Minister Miftah Ismail here, the LCCI President Mian Nauman Kabir said that the LCCI budget proposals have also been incorporated […]
Govt allocates Rs. 65 billion for HEC in budget 2022-23
ISLAMABAD: The government, due to financial constraints, has allocated Rs. 65 billion for the Higher Education Commission (HEC) in the budget 2022-23. This was revealed by Federal Minister of Finance, Miftah Ismail in the National Assembly during his budget speech. Besides, Rs. 44 billion has been allocated for the development schemes which are 67 percent […]
Govt to shift advance tax load to upper class: Miftah
ISLAMABAD: Minister for Finance and Revenue Miftah Ismail on Friday said the federal government had proposed to increase advance tax on 1600 cc and above vehicles under policy of shifting tax load to upper class. In his budget 2022-23 speech in the National Assembly, he said in case of purchasing an electric vehicle the buyers […]
Miftah proposes full tax exemption for charity hospitals
ISLAMABAD: Federal Minister for Finance and Revenue Miftah Ismail on Friday said that the government has planned to give complete tax exemption to charity hospitals. In a budget speech in the Parliament, the minister said that many charity hospitals were playing an effective role in the provision of health services to the citizens in the […]
Cabinet approves budget proposals for fiscal year 2022-23
ISLAMABAD: The federal cabinet chaired by Prime Minister Shehbaz Sharif on Friday approved the budget proposals for the fiscal year 2022-23. The cabinet also accorded approval to the Finance Bill 2022. Finance Minister Miftah Ismael will present the budgetary proposals in the National Assembly this afternoon.
KP business community proposes formation of advisory council
PESHAWAR: The business community of Khyber Pakhtunkhwa has called of the formation a high-level advisory council comprising representatives of the provincial government, concerned organizations including the FPCCI and other chambers to address their problems. The proposal was flouted in a consultative meeting on the provincial budget 2022-23 held in the Regional Office of Federation of […]
Taliban prepare new Afghan budget without foreign aid
Afghanistan’s finance ministry under the new Taliban government has prepared a draft national budget that, for the first time in two decades, is funded without foreign aid, a spokesman said. It comes as the country is mired in economic crisis and faces a looming humanitarian catastrophe the United Nations has called an “avalanche of hunger”. […]
US Democrats agree on $3.5 trillion budget target
Top US Senate Democrats agreed late Tuesday on a $3.5 trillion package to implement President Joe Biden’s vast plans to fund climate initiatives, health insurance and human infrastructure programs like child care, social welfare and housing. The huge proposal would direct federal funds to a sweeping array of projects over the coming decade that Biden […]
US budget deficit narrows in June as pandemic payments drop: govt
The US budget gap shrank in June compared to the record levels in 2020 when the government paid out a massive amount of pandemic aid, according to official data released Tuesday. Compared to June of last year, the government deficit fell by 80 percent to just $174 billion last month, the Treasury Department said, as […]