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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

February 16, 2023

The Pakistan Daily

Mini budget makes air travel even more expensive

The recently introduced mini-budget has made air travel more expensive, as the federal excise duty on first class and business class tickets has been increased by 20%. As per the proposals in the finance bill, air travel to Dubai, Saudi Arabia, USA, UK and European countries has become expensive. Tickets to these destinations are set to cost Rs30,000 more. Ticket prices for Jeddah and Madina have also increased by more than Rs28,000, while the minimum one-way fare to Dubai has increased from Rs99,000 to Rs150,000. The airfare from Lahore to Istanbul has increased by more than Rs15,000, to Rs188,000. While

January 10, 2022

Hamza Azhar Salam

Shehbaz, Bilawal call for judicial commission on Murree deaths

ISLAMABAD: Leader of the Opposition, Mian Shehbaz Sharif and PPP Chairman, Bilawal Bhutto Zardari have called for a judicial probe on the Murree incident in which at least 23 Pakistanis lost their lives after remaining stuck in snow for over 20 hours. In the Parliamentary session, it was decided between the government and the opposition that discussion regarding the Finance Supplementary Bill also known as ‘Mini Budget’ would be held tomorrow and that the focus of today’s session would be on the Murree Incident. Shehbaz Sharif lashed at the government for failing to avert the tragic incident, questioning whether it

December 30, 2021

The Pakistan Daily

PM Khan summons cabinet meeting today to approve Finance (Supplementary) Bill 2021

ISLAMABAD: Prime Minister Imran Khan has summoned a meeting of the federal cabinet on Thursday (today) to finalise the mini-budget. The meeting with PM Imran Khan in the chair will be held tomorrow at 12 in noon to approve Finance (Supplementary) Bill 2021. Following the approval, the Finance Amendment Bill 2021 will be unveiled in the National Assembly. The meeting will be preceded by a meeting of the PTI Parliamentary Party chaired by Prime Minister Imran Khan in which members of the Assembly will be briefed on the mini-budget. Due to the tough conditions of the International Monetary Fund (IMF),

December 23, 2021

The Pakistan Daily

Federal govt decides to introduce mini-budget through ordinance

ISLAMABAD: The federal government has decided to introduce a mini-budget through ordinance instead of tabling it in the parliament. According to the finance ministry authorities, the International Monetary Fund (IMF) has set conditions to start implementing mini-budget until January 12, 2022, and it is also stressing on budget’s approval through the parliament. However, the authorities said approval of over 360 billion rupees mini-budget from the parliament will take too long, thus, the government has decided to hold talks with the IMF once again.

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