Political backdrop of Budget should not be ignored
KARACHI: Political noise has been fever pitch in the last few months as the recently ousted PM Imran Khan demanding immediate elections. Even if the government is able to withstand…
Federal Budget: Subsidies to fall by 54%
KARACHI: The government is reducing its targeted subsidy balance by 54% YoY to Rs699 billion for FY23. The subsidies granted to Independent Power Producers (IPPs) and Pakistan Holdings Private Limited…
Federal Budget: Energy Taxation
KARACHI: The most notable increase stems from the projected Rs750 billion collection of Petroleum Development Levy (PDL) against Rs135 billion collected in FY22. Based on market estimates, the targeted Petroleum…
FEDERAL BUDGET: INDUSTRIAL RELIEF MEASURES
KARACHI: Government has announced several measures to support industrial sector. 1. To incentivize packaging industry, CD and ACD on various tariff lines pertaining to aluminum, polymers of ethylene, BOPP etc.…
1% tax imposed on persons owning more than one property
KARACHI: All persons who have more than one immovable property exceeding Rs.25 million situated in Pakistan shall be deemed to have received rent equal to 5% of the fair market…
Hefty income tax imposed on salaried class
KARACHI: The basic threshold of taxable salary is proposed to be enhanced to Rs1.2 million from the current Rs0.6 million for salaried individuals. This would pass tens of billions of…