Exercise of powers by ministers in absence of PM is unconstitutional on May 28, 2016ISLAMABAD: Legal and constitutional experts have declared the exercise of powers by federal ministers in the absence of Prime Minister (PM) as illegal and unconstitutional move. No federal minister can preside over cabinet meeting despite delegation of powers by PM nor can he accord approval to decision of the cabinet. No one can preside over […]
Govt all set to increase pension more than pay on May 28, 2016ISLAMABAD: The federal government will not merge the 50 percent ad hoc relief allowance in the basic salaries of government employees in the upcoming budget, sources say. A proposal to increase the salaries of government employees from 10 to 13 percent in the upcoming budget is under consideration. According to the sources, a three-member government […]
Ramadan package losing meaning as prices are sky-rocketing due to taxes on May 26, 2016ISLAMABAD: Ramdan Package is likely to lose its meaning in the wake of possible imposition of taxes on essential commodities and food items in the upcoming budget for the fiscal year 2016-17 and unholy nexus of profiteers and hoarders in jacking up prices before advent of the holy month of Ramadan. According to market rates, […]
Govt to increase FED on beverages industry on May 22, 2016ISLAMABAD: The federal government is all set to enhance the federal excise duty on the beverage industry by 3.5 per cent in the upcoming budget 2016-17. This will result in an increase in the prices of soft drinks. The sources in the Federal Board of Revenue(FBR) said that the federal excise duty on the beverage […]
Lack of transparency in foreign aid slides FATA into awful economic regression on May 20, 2016ISLAMABAD: Pointed questions are slipping from lips where the funds worth trillions of rupees allocated for development projects in FATA have gone amid the reports that every sector therein is on brink of destruction The communication system in FATA is near to collapse and the uplift projects are next to nil and the plight of […]
Govt decides to allocate Rs 9 billion for PMHIS on May 19, 2016ISLAMABAD: The government has decided to allocate Rs nine billion to the Prime Minister Health Insurance Scheme (PMHIS), in the budget, for the upcoming financial year 2016-17. According to documents available with the Daily Times the government had earmarked Rs three billion for PMHIS in the budget for the current fiscal 2015-16 and a sum […]
Pakistan, IMF finish talks on 11th review of EFF on May 12, 2016ISLAMABAD: Pakistan and International Monetary Fund (IMF) have successfully completed negotiations on the Eleventh Review under three year Extended Fund Facility (EFF) programme for an amount of $6.4 billion. Pakistan will get eleventh tranche of $500 million which will be released in June after the approval of IMF Board. “Completion of the Eleventh Review is […]
Commerce Ministry for cut in Trade Missions budget on May 6, 2016ISLAMABAD: Due to poor performance of promoting the export items in foreign countries, Ministry of Commerce has proposed to mitigate the Trade Missions budget for next fiscal year 2016-17. Pakistan exports have stalled to 23 billion dollar in ongoing financial year. Reliable sources told Daily Times that high officials of the government especially from the […]
Experts urge government to enhance education and health budget on May 4, 2016ISLAMABAD: Economic experts at a pre-budget seminar urged the government to reform the tax culture and administration system, besides increase the spending on health and education budget up to 5 percent to GDP. Former Advisor to Finance Minister Saqib Sherani while addressing the audience in pre-budget seminar organized by COMSATS University said that just 534,000 […]
FBR not ready to give clean chit to Ayyan Ali on April 26, 2016ISLAMABAD: Federal Board of Revenue (FBR) has tightened its circle around super model Ayyan Ali who is facing high profile money laundering case. She has to pay Rs19.3 million income tax on her property. According to sources, the board would not give clean-chit to super model till full amount is not paid by the accused. […]