13 C
Islamabad
Tuesday, November 12, 2019
It is 7am, while most people are getting ready to start their day, SSGC's Counter Gas Theft Control Operations' team is already on ground preparing for a raid on a facility involved in theft of natural gas. Acting on a tip-off, the company's Counter Gas Control Department's Operation Wing...
It was the renowned American Supreme Court judge Oliver Wendell Holmes who wrote more than a century back that ‘taxes are the price we pay for a civilized society’. If that is so then the message hasn’t reached many people in Pakistan – particularly the rich and powerful who seem...
Pakistan has come away with a lavish praise from the International Monetary Fund (IMF) at the end of the first staff level review of the bailout package handed to it in May. A statement issued at the conclusion of the 12-day meetings and talks with the Pakistani government leaders and...
The imposition of 7.5% sales tax on restaurants through the Finance Act 2019 by the National Assembly, energetically defended by the Chairman of Federal Board of Revenue (FBR), is patently unconstitutional being in violation of Article 142 of the Constitution of Islamic Republic of Pakistan . It is also...
Unlike the Doing Business Report of the World Bank, which primarily focuses on business regulations, the report, ‘Index of Economic Freedom’, produced by the Heritage Foundation, estimates the overall economic freedom index (EFI) of a country, covering multi-faceted aspects relevant to the efficient functioning of economic exchanges among economic...
This column has consistently argued for a single tax authority across all levels of government. The announcement of setting up the Pakistan Revenue Authority (PRA) should, therefore, have been an occasion to commend the government. However, it seems that before announcing any reform, the government does not...
If the government was listening to the State Bank of Pakistan (SBP) rather than the World Bank, it would be in a much more somber mood. While there has been much patting each other on the back over the Ease of Investment ranking improvement, the SBP's annual report for...
In developed countries, the ratio of emissions of greenhouse gases from vehicles in total volume of environmental pollution is 20 percent but here in Pakistan it is 40 percent. And if not controlled the country’s major cities are expected to be as paralyzed as an smog-enveloped New Delhi is...
The Minister for Economic Affairs Hammad Azhar no doubt tasked to present a defense of the state of the economy amidst rising public clamour against accepting the upfront International Monetary Fund (IMF) conditions, instead of an appropriate phasing that would have eased concerns over the possibility of socio-economic unrest,...
Much of Pakistan’s current economic crisis revolves around the low savings and investment rates. This is the primary reason why Pakistan has been unable to compete with rest of the dynamic Asian region which has recorded phenomenal economic progress in the last three decades. Low savings rates have resulted...

Opinion

billions tax

Tax plans san debate!

According to a Press report, Chairman Federal Board of Revenue (FBR), Shabbar Zaidi, has shown flexibility over establishment of Pakistan Revenue Authority (PRA) after...