FBR to convene meeting of stakeholders on evaluation of tax on immovable property on July 14, 2016ISLAMABAD: The Federal Board of Revenue (FBR) will convene a meeting of all stakeholders next Monday to know their point of view on the evaluation of tax on the transfer of immoveable property. The parliament during the discussion on the federal budget had approved the proposal to levy an advance income tax at the rate […]
Pakistans foreign loan reaches highest level on July 14, 2016ISLAMABAD: Pakistan’s foreign and domestic loan volume has reached the highest level as the total debt of the country stands at Rs 21550 billion with the national debt share more than 14 billion rupees and foreign debts of Rs 7000 billion. According to official documents, the government debt soared to Rs 14318 billion in 2013 […]
Ahsan Iqbal allocates 70 pc sports budget for his city on July 12, 2016 ISLAMABAD: The Minister of Planning, Development and Reforms Ahsan Iqbal by taking benefit of his position as the chairman of the Annual Plan Coordination Committee (APCC) allocated 70 percent of the sports development budget for the current fiscal year to his city Narowal. The government had allocated a Rs 630.8 million development budget for […]
Government fails to attain fiscal targets on June 30, 2016ISLAMABAD: As the fiscal year 2015-16 is going to close today the Pakistan Muslim League (N) government under the leadership of Prime Minister Nawaz Sharif has failed to achieve all its financial targets. The government has failed to achieve the annual growth rate , export, investment to GDP ratio, agriculture growth, FBR revenue and others […]
Commerce ministry rejects Ishaq Dars claims on June 29, 2016ISLAMABAD: The commerce ministry has rejected the claims of Finance Minister Ishaq Dar about the country’s export statistics for the current fiscal year 2015-16 stating that the exports will remain at 21 billion dollars against the target of 25.5 billion dollars. This was stated by the Secretary Commerce Azmat Ali Ranjha in the Senate Standing […]
Brexit may hit trade between Pakistan, Britain on June 27, 2016ISLAMABAD: Britain’s exit from the European Union (EU) or Brexit may hit the trade volume between Pakistan and the United Kingdom that currently stands at $ 2 billion per year. Pakistan is struggling to increase its export volume that stands at $ 23 billion. Britain is the main country, which pushed Pakistan to get EU […]
Pakistan to review PTAs to counter heavy losses in export on June 18, 2016ISLAMABAD: Due to enormous losses in the existing preferential trade pacts with foreign countries, the Ministry of Commerce has decided to review all existing preferential trade pacts through which Pakistan conducts its trade on preferable terms with other countries on bilateral basis. The review would be conducted after Eid through multiple means of stakeholders’ consultations […]
Ending load shedding only tall claims on May 18, 2016ISLAMABAD: Prime Minister (PM) Nawaz Sharif’s announcements for making Pakistan a country free of load shedding by 2018 have proved to be only tall claims. The government has failed to initiate 94 per cent of the energy projects during the current fiscal year of 2015-16. No practical steps are being undertaken by the government to […]
Prime Minister takes advantage of his seat on May 17, 2016ISLAMABAD: The regional tax office Lahore has sent notices to Sharif family in which explanations have been sought about the income of Prime Minister Nawaz Sharif and Chief Minister Punjab Shahbaz Sharif and other family members. The reliable sources told Daily Times that Federal Board of Revenue (FBR) want the clarification about the income which […]
PML-N govt has hat-trick of not achieving budget targets on May 16, 2016ISLAMABAD: The government of PML(N) is facing constraints to achieve several economic targets in the third consecutive year of its government. Unreal economic targets had been fixed in the budget due to the IMF programme but later on, these targets were not achieved. The same situation had been witnessed in the previous two years. In […]