Mini budget in two months to slap more taxes

KARACHI: The Pakistan Tehreek-e-Insaf (PTI) government is set to unveil a mini-budget within two months to slap additional taxes of around Rs150 billion aimed at achieving the downward-revised annual tax collection target of Rs5.238 trillion, ET reported. The under-consideration revenue measures to the tune of close to Rs150 billion will… Continue reading

Any mini budget, additional taxes to prove ruinous for economy: KCCI

KARACHI: Karachi Chamber of Commerce and Industry (KCCI) reacting to rumors and media buzz going on about the announcement of yet another mini budget or imposition of additional taxes to overcome the yawning deficit, warned that any such move would prove ruinous for the economy. In a statement, acting President… Continue reading

Finance Supplementary 2nd Amendment: Growth, boost rightly supersede deficit worry

OPINION: Thank God, we have finally realized that, what we needed the most was growth and the overall boost to the economy through corrective structural measures rather than the typical punitive mindset towards businesses. This is reflected from the needed structural corrections made to the Finance Bill, which would be… Continue reading

Transfers and postings in PCS delayed until after mini-budget

KARACHI: Large scale transfers and postings in Pakistan Customs Service, that had been finalized by the Federal Board of Revenue (FBR), have been delayed due to the mini-budget being announced on January 23, 2019. Member Customs (Operations) Owais Agha Jawwad had recommended the transfers and postings in PCS, as he… Continue reading

PTI government must consult KCCI prior to announcing mini budget: Chairman BMG

KARACHI: Chairman Businessmen Group (BMG) & Former President Karachi Chamber of Commerce & Industry (KCCI) Siraj Kassam Teli has stressed that the PTI government must honor all its commitments made during a meeting with KCCI’s delegation on December 4, 2018 in Islamabad which was followed by another meeting with PM’s… Continue reading

Mini-budget to shrink the economy, hit masses: Tax Bar

ISLAMABAD: Rawalpindi Islamabad Tax Bar Association (RITBA) on Wednesday warned that forthcoming mini-budget to result in contraction of the troubled economy adding to the plight of masses. The new taxation measures to improve the revenue collection will also hit the business community worried over instability, it said. Mini-budget will result… Continue reading

Another mini-budget on the cards: Asad Umar

KARACHI: Hinting towards another ‘mini-budget’ to address the economic challenges facing the country, Finance Minister Asad Umar said financial aid received from Saudi Arabia, China and the United Arab Emirates (UAE) will be sufficient to cover the fiscal deficit for the current year. In his briefing to the Senate Standing Committee… Continue reading