Federal Cabinet second time defers highly inflationary mini budget

Federal Cabinet second time defers highly inflationary mini budget

The federal cabinet on Tuesday approved the State Bank of Pakistan (SBP) amendment bill to give absolute autonomy to the central bank in a bid to qualify for the $1 billion loan, but on the…

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Federal Cabinet Rejected Summary of Sugar and Cotton Imports from India

Federal Cabinet Rejected Summary of Sugar and Cotton Imports from India

On Thursday, the federal cabinet rejected a summary of sugar and cotton imports from India. According to media reports, a meeting of the Federal Cabinet was held under the chairmanship of Prime Minister Imran Khan…

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Cabinet to abolish Rs350b tax exemptions

Cabinet to abolish Rs350b tax exemptions

ISLAMABAD: The federal cabinet will approve the Tax Laws (Fourth Amendment) Bill to abolish Rs350 billion tax exemptions and restore the standard 17 per cent rate of general sales tax (GST) under the terms agreed…

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Cabinet exempts state owned enterprises from transparency rules

Cabinet exempts state owned enterprises from transparency rules

The federal cabinet has amended the procurement rules to allow the government to award contracts to the state-owned enterprises without floating public tenders, which may compromise transparency in public sector deals. The federal government notified the amended…

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Proposed Federal Development Budget

Proposed Federal Development Budget

The federal development budget for the next financial year has been allocated Rs 900 billion, the federal ministries will get Rs 672 billion. According to the documents, Rs 110 billion earmarked for water resources, Rs…

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Cabinet approved budget proposals to meet the IMF’s Demands

Cabinet approved budget proposals to meet the IMF’s Demands

The federal cabinet has approved a new budget to impose a tax of Rs 140 billion to meet a condition of the International Monetary Fund (IMF). An increase of 1.4 Trillion rupees through tax exemptions.…

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Asim Ahmad Appointed As New Chairman FBR

Asim Ahmad Appointed As New Chairman FBR

The federal government on Wednesday appointed Muhammad Asim Ahmad as Chairman Federal Board of Revenue (FBR). Asim Ahmad appointed in replacement of Dr. Ashfaq Ahmed as new FBR Chairman. A notification to this effect also…

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Govt ready to offer Third Tax Amnesty Scheme to industrialists

Govt ready to offer Third Tax Amnesty Scheme to industrialists

The federal cabinet Tuesday approved a summary moved by the finance ministry, to promulgate an ordinance to offer a third tax amnesty scheme to industrialists. The Ministry of Finance circulated a summary among the federal…

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What is new in Govt announced supplementary finance bill 2021?

What is new in Govt announced supplementary finance bill 2021?

Federal Minister for Finance Shaukat Tarin on Thursday presented the much-awaited supplementary finance bill 2021 — termed by the Opposition as a “mini-budget” — in the National Assembly, as a pre-requisite to resume the $6…

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FBR Suspends Sales Tax collection On Sugar from manufacturers

FBR Suspends Sales Tax collection On Sugar from manufacturers

The Federal Board of Revenue (FBR) has suspended the provision of sales tax collection on sugar from the manufacturers on the basis of the retail price up to November 30, 2021. The FBR on Thursday…

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