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PESHAWAR: The proposed Rs300 tax per kilogram on tobacco by the Federal Bureau of Revenue (FBR) is feared to render a large number of farmers and industrial workers jobless and bring huge losses to the growers and those associated with this cash crop in Khyber Pakhtunkhwa, the farmers complained. Farmers’...
ISLAMABAD: India has allowed the re-export of dried date shipments currently parked at the Attari border check post since February. The Indian government had raised duty on Pakistani exports by 200 per cent after the Pulwama Attack in February effectively ending the trading activities between the two neighbours. An official statement...
KARACHI:  Despite the hue and cry by the five major zero-rated export sectors of the country, the Pakistan Tehreek-e-Insaf (PTI) government has withdrawn the zero-rated facility, saying that the move will streamline revenue flow and prevent leakages. While announcing the federal budget for fiscal year 2019-20, the government withdrew the Statutory...
KARACHI: Despite the dismal performance of nearly every major segment in the industrial sector, some areas outshined, posting promising growth in the outgoing fiscal year. Although far from perfect, electricity, gas, electronics, engineering and wood products were among the segments that delivered. The Pakistan Economic Survey reported depressing growth figures of...
ISLAMABAD:  The Power Division has come up with a proposal suggesting reversal of the earlier government decision on passing the Rs118-billion cost of industrial support package on to power distribution companies and wants the allocation of funds for the package through federal budget. Earlier, the government had decided that the power...
Chances are that Pakistan will achieve a primary surplus, build up enough foreign exchange reserves and bring down the current account deficit to a safer level by the conclusion of the 39-month $6 billion Extended Fund Facility (EFF) from the IMF. Industry The long-term sustainable economic recovery, however, will continue...
ISLAMABAD: Battery manufacturers on Tuesday asked the government to extend the benefit of concessionary rate of customs duty on import of raw materials, components, sub-components of automotive batteries to all types of locally made storage batteries. In their proposals submitted to the Federal Board of Revenue for the upcoming budget,...
KARACHI: Textile exports remained flat at $11.1 billion in the first 10 months of the current fiscal year of 2018/19 over the corresponding period a year earlier, but value-added sector showed some improvement during the period owing to the government’s measures, including rupee devaluation, to boost outbound shipments, official...
ISLAMABAD: The large-scale manufacturing (LSM) sector (production) shrank 10.63 per cent during March from a year ago, the Pakistan Bureau of Statistics (PBS) reported on Wednesday. It was attributed to dismal performance of food and beverages, fertilisers, petroleum products and automobiles sending fears of large-scale layoffs in the industrial sector. On...
LAHORE: Textile sector holds the potential to increase the exports to $50 billion per year but to exploit it the industry needs a long-term policy and yearly investment of at least $2 billion both of which are elusive. Every government that comes into power looks towards textiles for boosting exports...

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A tale of two budgets

About a fortnight back the Indian Government announced its first post Elections 2019-20 Budget, and it will be interesting to see how it compares...