The government is likely to resort to heavy taxation on the banking sector in the 2023-24 budget as Islamabad looks for easy sources of revenue in a fiscally challenged environment. “We believe the 2023-24 budget will likely carry more negative earnings implications for banks,” said Amreen Soorani, head of research at JS Global. There’s a likelihood of super tax increasing from the current l
The coalition government, led by PML-N, has partially approved recommendations of the Tariff Policy Board (TPB) to adjust solar sector duties in the upcoming budget, Dawn has learned from knowledgeable sources in the Finance Division. However, a proposal to further reduce duties on the steel sector has been rejected. The Federal Board of Revenue (FBR) strongly opposes proposals to eliminate add
The Pakistan Coal Suppliers Association and Good Transport Association announced on Wednesday that they would stop the supply of coal across the country from Balochistan if they were not provided with adequate protection. Speaking at a joint press conference, the President of Balochistan Goods Transport Association Noor Ahmed Kakar, and the General Secretary of Coal Suppliers Association Muham
Ashfaq Tola, who chairs the Reforms & Resource Mobilisation Commission, said on Wednesday that the salaries of government employees would be raised by around 20 per cent in the coming budget. “Salaries of lower grade employees is very low and the scales need a major boost,” Mr Tola observed. He parried a question over the perks and privileges enjoyed by bureaucrats. Ashfaq Tola was addres
The government will hope to find a balance between reforms to satisfy the International Monetary Fund and measures to win over voters in an imminent election in its budget for 2023-24 to be announced on Friday, analysts said. Pakistan’s IMF programme runs out this month with about $2.5 billion in funds yet to be released as it struggles to strike an agreement with the lender, as it grapples wit