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Asif Khaliq drives blue-eyed Chaiwala Arshad Khan’s London success Munir and Naqvi Join Makkah Pact Talks in Tehran Iran Says the Border Is Open as Pakistan Ships LPG by Sea Six Militants and Two Soldiers Killed in DI Khan Imran Khan’s Sisters Held for Another 30 Days Rights Commission Calls for the KP Emergency to End Makkah Pact Officials Head to Tehran for Security Talks Riyadh Airport Partly Reopens Two Weeks After Attack Indian Duty-Free Access Threatens Pakistan’s Textile Edge Peshawar Begins Polio Drive for 1.11 Million Children KSE-100 Loses 4,045 Points Over the Week Task Force Asks Industry for Export Proposals PTI Weighs Talks Against Protest Over KP Seven of One Family Killed in Murree Road Accident Mir Raza’s Father Asks for a JIT Member to Be Replaced Pakistan Rejects a $490m Loan as Too Expensive Minister Seeks Loan Rescheduling as Rates Bite at 25pc 31,000 Consumers Denied the Petrol Subsidy Portal Glitch Blocks Returning Pakistanis From Filing LPG Cargoes Down to Two as Senate Presses on Winter Fuel

Articles for tag: duty, economic distress pakistan, Federal Board of Revenue (FBR), federal excise tax, fiscal, fiscal deficit, fiscal framework, Government, government revenue, IMF Program for Pakistan, IMFs, income tax rate, International Monetary Fund (IMF), Mini Budget, misses, new taxes pakistan, Pakistan's economic challenges, Rashid Langreal, sales tax Pakistan, Shehbaz Sharif, target, Tax collection in Pakistan, tax goals, tax policy pakistan, tax revenue shortfall

August 31, 2024

News Desk

The government misses the IMF’s fiscal target

Islamabad: In a major setback, the government missed its two-month tax collection target by a wide margin of Rs 111 billion, despite imposing a record Rs 1.8 trillion in new taxes in the budget – exacerbating economic hardship for citizens. This shortfall casts serious doubt on the credibility of the national budget and the feasibility of the $7 billion International Monetary Fund (IMF) program, which now appears irrelevant even before its approval by the IMF’s executive board. According to provisional data, the Federal Board of Revenue (FBR) managed to collect only Rs 1.441 trillion till the end of August, compared

June 25, 2024

News Desk

Cabinet decides against imposing additional duty on solar panels

An employee of the Pakistani company sets up a solar panel during a marketing demonstration in a park in Islamabad in this photo taken on March 10, 2012. — AFP PM Shehbaz directs acceleration of PIA privatization process. Formation of a committee to monitor prices, sugar exports. The Council of Ministers approves the decisions of the Economic Coordination Committee. After speculation about changes in net metering and new taxes on solar products raised many eyebrows, Prime Minister Shehbaz Sharif has made it clear that the federal government will not impose additional duties on solar panels to ensure access to low-cost

June 16, 2024

News Desk

Mbappe, France on duty as favorites start Euro 2024 campaign

GERMANY: Kylian Mbappe and France have featured in the last two World Cup finals but are on a mission as they begin their Euro 2024 campaign against Austria on Monday, having suffered disappointment in recent editions of the continental competition. Les Bleus won the World Cup in Russia in 2018 when a teenage Mbappe announced himself on the world stage and only missed out on the 2022 final on penalties after an epic battle against Argentina in Doha. They also won the UEFA Nations League in 2021, but the European Championship is the only title that has eluded the French

June 9, 2024

News Desk

No decision to lift duties on man-made fabric

Islamabad: Despite holding multiple meetings, Pakistan’s Tariff Policy Council remains undecided on withdrawing the 5% regulatory duty on man-made textile imports due to competing business interests, testing the government’s will to reduce the cost of doing business. Sources said that headed by commerce minister Jam Kamal, the Tariff Policy Council had held several rounds of discussions on the proposal to withdraw the 5% regulatory duty on import of polyester yarn. Although the majority of board members were in favor of withdrawing the duty, the board is yet to take a final decision, they added. The commerce minister’s views could not

May 29, 2024

News Desk

Gas companies demand tariffs on cheap imports

Islamabad: Local liquefied natural gas (LPG) companies have requested the government to impose a regulatory duty on LPG imports from Iran in the upcoming budget for the financial year 2024-25. Background discussions with LPG companies revealed that most of the LPG came from Iran at lower prices, but the gas was of poor quality and could cause explosions, endangering life and property. They stressed that the government should impose a regulatory duty on the purchase of LPG from Iran to enable the local industry to compete fairly with the imported product. The legal gas industry cannot import gas from Iran

April 10, 2024

News Desk

Urea price rose ahead of duty hike

KARACHI: Fauji Fertilizer Company (FFC) hiked the price of urea by Rs 634 to Rs 4,286 per 50 kg bag, bringing the rates close to the levels at which other branded products are being sold in the market ahead of a possible hike in feed gas duty by the government . Earlier, it was selling the chemical at Rs 3,652/bag compared to prices in the range of Rs 4,300-5,500/bag at which other manufacturers and traders were selling the commodity, Arif Habib Limited (AHL) said on Tuesday. FFC had gained a price advantage after the government left the gas feed tariff

March 14, 2024

News Desk

Michael Keaton pulls double duty in ‘Knox Goes Away’

Michael Keaton pulls double duty in Knox Goes Away Michael Keaton, the ex Batman actor, recently starred as an aging hitman suffering from a rapidly progressive form of dementia in his upcoming film Knox Goes Away. After 16 years since his last directed film The jolly gentlemanMichael has also directed the upcoming film hit man, doing double duty. Recognizing the similarities between his character as Knox and in the movie The merry gentlemen as hit man, o Batman The star said in a zoom interview, “Both coincidentally and ironically and strangely, honestly, they were dealing with what I would refer

October 31, 2023

News Desk

Govt increases RLNG duty for Sui gas companies

The Nikolay Urvantsev, a ship carrying Russian liquefied natural gas (LNG), unloads gas in the port of Bilbao, Spain, March 10, 2022. — Reuters Increase due to rise in RLNG Brent prices. Ogra has cut RLNG prices seven times since January. Pakistan relies on LNG to meet almost a third of its requirements. ISLAMABAD: The government has approved an increase of up to half a dollar per MMBTU or 3.8% in re-gasified liquefied natural gas (RLNG) prices for both Sui gas companies for October 2023. The news reported on Tuesday. The Oil and Gas Regulatory Authority (Ogra) has issued a

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