Articles for tag: asked, demand, FBR, increase, raise, revenue, Rs15tr, Tax revenue

November 3, 2023

Islamabad: Caretaker Finance Minister Dr Shamshad Akhtar termed this year’s tax collection target of over Rs9.4 trillion as low and asked the authorities to work out a plan to increase collection to Rs15 trillion in the next financial year. The minister’s remarks came during an internal meeting on the restructuring of Pakistan Revenue Automation Limited (PRAL), a subsidiary of the tax machine and its technology arm. Akhtar also expressed his displeasure over the performance of the Federal Bureau of Revenue (FBR) members and demanded a one-page report on their achievements during their stay at the FBR headquarters. Sources said the

November 2, 2023

News Desk

Business

An increase in electricity tariffs by 54 paisa per unit is being sought

Islamabad: The National Electricity Regulatory Authority (Nepra) on Wednesday voted the Central Power Purchases-Assurance Authority (CPPA-G) for expensive power generation while ignoring cheaper local coal-based generation, which puts additional burden on consumers. In a public hearing, the CPPA-G demanded an increase of Rs 0.5471 per kilowatt hour (kWh) in the price of electricity due to the fuel charge adjustment (FCA) for September 2023. It was noted that local coal-fired power generation remained at a lower level, which concerned the power sector regulator. “The local coal-based electricity generation is low because the electricity was not generated with the help of cheap

November 1, 2023

News Desk

Business

The Ministry of Finance predicts an increase in economic activity and a fall in inflation

An employee works at a textile factory in the port of Karachi, Pakistan, on April 7, 2011. — AFP/File The Ministry of Finance gives a “positive picture” of the economy. The Ministry is seeking financing on favorable terms from multilateral sources. The report highlights the challenge of increased debt servicing costs. ISLAMABAD: The finance ministry has painted a “positive picture” of the economy ahead of the International Monetary Fund’s (IMF) loan program review, predicting an improvement in overall economic activity throughout the fiscal year. The finance minister predicted that overall economic activity would remain upbeat due to the recovery in

October 31, 2023

News Desk

Business

After much fuss, the increase in natural gas prices was approved

Islamabad: The federal cabinet on Monday approved a hike of up to 193% in natural gas prices to recover an additional Rs 350 billion from consumers this fiscal year, while making some further adjustments in the recommended rates for industrial and CNG consumers. Headed by Chief Minister Anwaarul Haq Kakar, the cabinet approved a hike of up to 172% for domestic consumers, a 137% hike for commercial consumers and a 193% hike in prices for cement manufacturers with effect from November 1. The Cabinet has referred the proposed hikes for processing units of non-export and export industries, captive power plants

FBR asked to raise revenue to Rs15tr

An increase in electricity tariffs by 54 paisa per unit is being sought

The Ministry of Finance predicts an increase in economic activity and a fall in inflation

After much fuss, the increase in natural gas prices was approved

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