Federal transfers to the provinces will rise 37 per cent year-on-year to Rs7.438 trillion during 2024-25. During the next fiscal year, Punjab’s share will be Rs3.69tr, followed by Sindh at Rs1.85tr and that of Balochistan is projected to be Rs667.55 billion. Khyber Pakhtunkhwa’s receivables during the next fiscal year, including 1pc additional as compensation for war-on-terror, will be Rs1
The government has announced a stunning Rs1.761 trillion in new revenue measures for the next fiscal year, which, a deeper examination reveals, may contribute to another bout of inflation in the country. The focus of the budget seems to be on withdrawing most exemptions from sales tax and customs duty which, though not fully reflected in the finance minister’s budget speech on the floor of Nati
The government has proposed a series of punitive measures in the annual budget for FY2024-25 to punish individuals and businesses who do not file income tax returns, including the possibility of being barred from foreign travel. The measures appeared to be another attempt by the government to coerce non-filers into filing their tax returns for the documentation of the economy. In his speech
Continuing its downward march, the Pakistan Stock Exchange (PSX) on Tuesday recorded a notable drop of over 650 points, primarily owing to investor fears over potential announcement of tough tax measures in the federal budget for fiscal year 2024-25. Although the bourse got off to a robust start, when it touched the intra-day high of 73,866.44 points, it failed to maintain the positive momentum
Leading business figures have expressed concern over the rapidly increasing domestic and foreign loans of the country, highlighting the lack of a sagacious and sustainable policy aimed at reducing or eliminating these debts. They highlighted the urgent need for the government to find immediate solutions to curb expenses, widen the tax net, and stop pampering vested interests and elite capture. The