As Pakistan faces mounting economic challenges, the government’s ambitious proposal to raise Rs1.2 trillion to Rs1.3tr in the upcoming budget through new taxation measures signals a bold attempt to stabilise the nation’s fiscal health. However, the effectiveness of these measures is tempered by the inherent weaknesses in Pakistan’s tax system, which is fragmented and unfair and leaves entire se
The new Khyber Pakhtunkhwa budget for the next financial year seems to be a smartly crafted document that commits to producing a significant surplus of Rs100 billion while proposing a slew of populist and expansionary measures in line with the ruling PTI’s election manifesto. The estimate of the budgeted provincial receipts of Rs1.75 trillion appears a bit on the ‘higher side’ as some of the re
Although Pakistan is globally ranked ninth in rice production, it claims fourth position as a rice exporter after India, Vietnam, and Thailand. This financial year ending on June 30, rice exports from Pakistan may touch the 5.8 million tonnes mark, a fraction short of the magical 6m tonnes figure, mainly because of favourable weather, availability of farm inputs, and the Indian ban on non-Basma
The repatriation of profits and dividends on foreign investments surged year-on-year by 251 per cent during the first 10 months of the current fiscal year, reflecting the State Bank of Pakistan’s relaxed policy towards dollar outflows. According to data released by the central bank on Monday, the country witnessed a profit outflow of $887 million during July-April FY24 compared to $253m in 10MF
The government is expected to revoke tax concessions that disproportionately benefit high-earning individuals over the middle-class workforce, Dawn learned on Monday. The International Monetary Fund (IMF) has advised the government to treat salaried employees’ incomes similarly to that of individuals (non-salaried) as personal income. However, the Federal Board of Revenue (FBR) disagrees and be