Having exceeded projections in the first five months of the current fiscal year, the Federal Board of Revenue (FBR) missed its collection target for December by almost 24 per cent, or Rs225 billion, owing to a sharp drop in imports as well as delay in collection of super tax from maximum taxpayers, showed provisional data on Saturday. The provisional revenue collection stood at Rs740bn in Decem
Nothing less than a miracle would dramatically change the manufacturing sector’s fortunes in the current election year after the challenging 2022 that saw temporary closures, deferments of expansion plans and scaling down of production by multiple businesses. Risks are higher for energy-intensive, import-reliant units, but prospects are relatively brighter for fast-moving consumer goods provide
Good things come to those who wait and for Pakistan’s tech ecosystem, the wait finally seemed to be over in 2021. Funding surged over 5x to $366 million and tech exports crossed $2 billion. Big shot investors entered the market, things were on the go and optimism was all abound. But that cliched saying doesn’t really mention anything about good things lasting, and that’s exactly what happened i
Wheat crop’s per acre yields may face challenges in 2023. Wheat is a major Rabi crop and its sowing usually ends by November. Yet it was still being sown till the end of December, which may impact its yields. The Sindh government decided to provide certified seed and fertiliser to farmers since unusual rainfall coupled with a dysfunctional drainage system spelt disaster in the province’s right
The government has increased the prices of wheat flour, sugar and ghee by 25 to 62 per cent for sale through the Utility Stores Corporation (USC) with immediate effect to reduce the impact of untargeted subsidies. The beneficiaries of the Benazir Income Support Programme (BISP) would be exempt from the price increase, while the limit for subsidised purchases from the USC has also been curtailed