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Lahore High Court (LHC) has ruled that refund of income tax deposited for delay in issuance of exemption certificates shall be processed expeditiously and exemption certificates shall not be delayed by the FBR field formation. It is reliably learnt that a division bench of LHC has disposed of appeal preferred...
LAHORE: Prices of all vegetables and fruits remained high during this week while majority of vegetables and fruits was missing in Sunday bazaars due to wrong fixation of prices. Available vegetables were also sold at higher rate than the officially fixed rates while a number of vegetables including tomatoes, onions...
ISLAMABAD: In a rare rebuff, the Asian Development Bank (ADB) on Sunday distanced itself from a Pakistan government announcement about provision of $3.4 billion budgetary support by the Manila-based lending agency. Also Read: $3.4b loan to Pakistan not finalised yet: ADB On Saturday, two senior members of the government had announced that...
As foreign debts have hit an unsustainable peak, the mounting risk of default has begun to haunt the PM’s financial team though they feel the eventuality can be avoided by raising revenues, cutting spending and observing financial discipline. "Growth" PM’s Adviser on Finance Dr Abdul Hafeez Shaikh has warned that...
True to its word to the International Monetary Fund, the PTI’s new economic team has rolled out an apparently aggressive revenue plan for the next fiscal year beginning July 1. "budget 2019-20" The budget 2019-20 has committed to deliver 0.6 per cent of primary balance, notwithstanding the highest ever fiscal...
RAWALPINDI: The Punjab government has decided to increase the metro bus service fare in Rawalpindi and Lahore from Rs20 to Rs30. The increase will be implemented in July with the start of the new fiscal year. A senior Punjab Masstransit Authority (PMA) official told Dawn that the provincial government was...
The PTI administration has proposed a budget for the next fiscal year that is designed to contract the economy, targeting a growth rate of 2.4pc — the slowest pace at which the economy will expand in a decade — to put it back on the road to stabilisation. "Corporate...
As growth in agriculture sector tanked to 0.85pc in the current fiscal year against the target of 3.8pc, the PTI government plans to spend Rs280bn on this sector during its five-year term. The purpose is to help recover growth in agriculture with the help of provinces in whose administrative...
Since the government borrowing from the central bank is inflationary, the PTI government “will no longer utilise this facility from July 1, 2019,” State Minister for Revenue Hammad Azhar announced in his budget speech on June 11. He also said that the government’s medium-term inflation target “will be in the...
ISLAMABAD:  The whole world is moving towards electric vehicles (EVs), especially the industrialised and industrialising countries. There are targets of 30% market share in sales of EVs in 2030. Reportedly, deliberations are going on in Pakistan between the government and different stakeholders for preparing an EV policy. "Automotive Industry" There are...

Opinion

theft power

Power tariff hike

A rise in taxes means a fall in people’s incomes. New taxes being levied by the PTI-led government show that previous regimes had left...