Jun
11
2019-2020, Budget
Budget 2019/2020 at glance
ISLAMABAD: Following is the glance of budget 2019/2020.
Jun
11
2019-2020, Budget, Finance
Budget 2019/2020 with massive tax burden presented
ISLAMABAD: The present government on Tuesday presented its first budget with total outlay of Rs 7,022 billion for the fiscal year 2019-2020, registering growth of 30 percent against the revised budget of Rs 5.385 trillion for current fiscal year (2018-2019). State Minister for Revenues Hammad Azhar presented the budget in the National Assembly, amid protest […]
Jun
11
Money & Banking
Rupee weakens by Rs1.36 against dollar
KARACHI: The Pak Rupee weakened by Rs1.36 against the US dollar on Tuesday as demand persists for import payment. The rupee closed at Rs151.47 to the dollar from previous day’s close of Rs150.11 in interbank foreign exchange market. Currency experts said that the rupee declined due to weak economic conditions. They said that the economic […]
Jun
11
Budget, Money & Banking
Government borrows Rs3.2 trillion from SBP in 10 months: Economic Survey
ISLAMABAD: The government has borrowed Rs3.2 trillion from State Bank of Pakistan (SBP) for budget financing during first ten months of current fiscal year, Economic Survey of Pakistan revealed. The survey released a day earlier stated that during July 01, 2018-April 26, 2019 government borrowed Rs 1,073.0 billion for budgetary support compared to Rs 850 […]
Jun
11
Finance
World Bank helps Sarena Hotels to obtain global business certification for gender equality
ISLAMABAD: International Finance Commission (IFC), a member of the World Bank Group, is partnering with one of the largest hotel chains in South Asia, Serena Hotels Pakistan, to help it become the first company in Pakistan to obtain the leading global assessment and business certification for gender equality—EDGE (Economic Dividends for Gender Equality), a press […]
Jun
11
2019-2020, Budget, Taxation
Share of indirect taxes increases to 60.9 percent: Economic Survey
ISLAMABAD: Despite claims of authorities to increase the share of direct taxes in total revenue, the share of indirect taxes further increased to 60.9 percent in 2018/2019. The Economic Survey 2018/2019 launched a day earlier, stated that the tax structure in Pakistan is skewed towards indirect taxes. The share of indirect tax to FBR tax […]
Jun
11
Budget, Corporate, Finance
PIA implements business plan to improve financial health
ISLAMABAD: Pakistan International Airlines Corporation (PIAC) has implemented strategic business plan to improve its financial health, according to Economic Survey 2018/2019 launched a day earlier. It said PIA came into existence in 1955 as Public Sector organization. However, in April 2016 it was converted from a statuary organization to a company governed by Companies Act […]
Jun
11
2019-2020, Budget, Taxation
FBR to force all NTN holders for filing tax returns
ISLAMABAD: Federal Board of Revenue (FBR) has chalked out a comprehensive plan to broaden the tax base by enforcing tax returns in the case of all National Tax Number (NTN) holders. According to Economic Survey 2018/2019 released on Monday said that the FBR would take following measures to broaden the tax base: — Creation of […]
Jun
11
Budget, Money & Banking
National Savings to issue registered prize bonds in all denominations
ISLAMABAD: The Central Directorate of National Savings (CDNS) to issue scripless registered prize bonds amongst all denominations with objective to document the economy. Economic Survey 2018/2019 released by the finance ministry of Monday, said that in collaboration with SBP, National Savings is in the process of introduction of registered scripless prize bonds amongst all denominations. […]
Jun
11
Budget, Money & Banking
Economic Survey 2018/2019: SBP increases policy rate by 650bps in past 18 months
ISLAMABAD: State Bank of Pakistan (SBP) enhanced policy rate by 650 basis points during last 18 months (January 2018 to date) for macroeconomic stabilization. According to Economic Survey 2018/2019 issued by the ministry of finance on Monday said the SBP had adopted policy rate reversal and gradually increased it by a cumulative 650 bps since […]