In the run-up towards the usual rituals of unveiling the Economic Survey and announcing the budget, the government has given the indication to revive the 13th Five-Year Development Plan (2024–29). This vital aspect of our development performance has been in a moribund status for many years. Effectively, the ninth Five-Year Plan for the country was the last initiative that was assigned an offici
In the social democracies of Europe, people file tax returns on time and pay the correct amount of taxes voluntarily because they are eligible, in return, for palpable benefits. For good governance and positive outcomes, rights must be linked with responsibilities. In Pakistan, the situation is altogether different. “Prime facie,” notes an analyst, “the government is defaulting on all aspects o
Cotton ginners across the country have gone on an indefinite strike to protest against new taxes and an “exorbitant” rise in the power tariff for ginning units. A general body meeting of the Pakistan Cotton Ginners Association (PCGA) held in Sukkur on Sunday decided to immediately suspend the procurement of raw cotton and delivery of the ginned lint to spinning units across the country as a pro
Despite trade and industry’s criticism of the tax-laden budgetary proposals for the next fiscal year, the Pakistani share market on Thursday staged an unprecedented single-day rally of almost 4 per cent in the post-budget session, lifting the index to a record closing above 76,000 closing. Speaking with Dawn, Aqeel Karim Dhedhi, a veteran stockbroker and chairman of AKD Group, attributed the
FINANCE MINISTER Muhammad Aurangzeb on Thursday expressed his ‘resolve’ to increase Pakistan’s tax-to-GDP ratio to 13pc in the next three years. Addressing a post-budget media briefing, he said: “Our basic principle while framing this budget was to expand the tax base.” Given this statement and his earlier declaration at the launch of the Economic Survey that “countries cannot be run on charity