Although the Pakistan Business Council (PBC) has openly welcomed the government’s plans to split the Federal Board of Revenue (FBR) into two entities, it raises concerns over the proposal of keeping the policy-making department in the Ministry of Finance. In a letter to Caretaker Minister for Finance and Revenue Dr Shamshad Akhtar, PBC Chief Executive Ehsan Malik wrote “the plans you shared pro
The International Monetary Fund (IMF) on Monday did not immediately endorse the interim government’s proposals to reduce industrial electricity prices, settle over one-fifth of the circular debt and make the Rs268 billion debt of the Pakistan International Airline (PIA) part of the public debt. The IMF also asked as to why the interim government is showing haste when the Election Commission of
How much political parties spend on campaigning during elections cannot be estimated with a fair degree of certainty, but it is possible to triangulate approximately how much spending is generated in the run-up to general elections. The Election Commission of Pakistan (ECP) has mandated a spending ceiling of Rs10 million for candidates campaigning for the National Assembly seats, and Rs4m for c
This week, 128.5 million Pakistanis, representing over half the country’s population, will get a chance to cast their ballot to choose their government for the fourth time since 2008. This marks a significant milestone in the nation’s democratic journey, having emerged from a decade of General Musharaf’s Martial rule. The actual turnout will only be evident after the election day. Several obser
As part of efforts to regain some of the fiscal space lost under the 7th National Finance Commission to provinces almost 15 years ago, the federal government has signed agreements with the four provinces to deliver a cumulative fiscal surplus of at least Rs600 billion and refrain from creating further debt in operations of key commodities like fertiliser, wheat and other eatables until the close o