Political arena cloudy, multi-solutions being explored PTI government faces survival task

KARACHI: Amid exchange of harsh words and wild allegations by PTI and PPP, the dirt in politics of the country is being spurned every day making the national life cloudy and has left every one confused about future of the country. There was a rumour of factional fight between the… Continue reading

PTI GOVERNMENT FACES UPHILL TASK, Passage of budget becomes challenge with more dissenting voices

KARACHI: The passage of budget is becoming a nightmare for the Pakistan Tehrik-e-Insaaf (PTI) government as more allies are showing discord with the major coalition partner. Prime Minister Imran Khan’s unusual speech at the floor of National Assembly on Thursday with a reconciliatory and explanatory tone make many believe that… Continue reading

Biggest embarrassment for PTI government

Supreme Court of Pakistan quashed Presidential Reference against Qazi Fayez Isa and also withdraw show cause notice issued by the Supreme Judicial Council here on Friday. A full court of SCP headed Justice Umar Ata Bindiyal heard more than a dozen Constitutional Petitions filed by Justice Qazi Fayez Isa, Supreme… Continue reading

Political uncertainty grips Pakistan Asif Zardari telephones Akhtar Mengal Shibili hopeful of keeping coalition in tact

KARACHI: Akhtar Mengal, chief of Balochistan National Party (BNP-Awami) announcement on the floor of National Assembly that his party is quitting the ruling coalition sounded alarm bells for PTI led government. We have waited for two years that promises made with us are honored and people of Balochistan and others… Continue reading

PTI government presents new taxes less, incentive less deficit budget 2020-21

ISLAMABAD: Minster for Industries Hammad Azhar presented the federal budget for the fiscal year 2020-21, wherein no new taxes have been imposed. The budget i.e. the Finance Bill is said to be prepared by the IMF instead of Federal Board of Revenue (FBR) and Ministry of Finance and Revenue. An… Continue reading

PTI government pocketing Rs40, Rs38 per litre on diesel, petrol

ISLAMABAD: Amid yawning tax shortfall and for achieving envisaged primary deficit target under the IMF condition, the government is pocketing Rs40 and Rs38 per litre on diesel and petrol respectively as petroleum levy and GST. In order to keep prices of petroleum products unchanged with effect from October 1, 2019,… Continue reading

Pakistan in deep political and financial crisis; Shabbar Zaidi to go soon

KARACHI: Pakistan has not been able to get out of the Financial Action Task Force (FATF) grey list; it is hardly avoiding the blacklisting, while on the internal front, Chairman Federal Board of Revenue (FBR) Syed Shabbar Zaidi is likely to step down from his current office by the end… Continue reading

Country’s business leaders term PTI’s first budget hostile for business, people

KARACHI: The business leaders have dubbed the federal budget 2019-20 unfriendly for business and unfriendly for masses, and it would adversely impact the industrialization in the country. [the_ad id=”32940″]“We will comment better once all the details are shares. But by the measures announced in the minister’s speech including elimination of… Continue reading

At least stock market is happy with the PTI government’s first budget

KARACHI: The stock market has welcomed the federal budget 2019-20, as no additional taxes were imposed on the equity market, and traders believe the market would observe a positive momentum going forward. [the_ad id=”32940″]The Minister of State for Revenue Hammad Azhar said the corporate rate for companies was not proposed… Continue reading

PTI government proposes to rescind SRO 1125

KARACHI: PTI government has proposed to rescind SRO 1125(I)/2011, thus restoring standard rate of 17 percent on import of raw materials by five value added export oriented sectors. [the_ad id=”32940″]SRO 1125(I)/2011 provides for zero-rate of sales tax on inputs and products of five export-oriented sectors i.e. textile, leather, carpets, sports… Continue reading