PkRevenue.com — In a significant fiscal move aimed at alleviating inflationary pressures on its citizens, Pakistan has granted a sales tax exemption totaling Rs 1.4 trillion on petroleum products for the fiscal year 2023-24, as revealed by official documents on Wednesday.
(more…)Author: Shahnawaz Akhter
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Pakistan Set to Unveil Rs 18 Trillion Outlay for 2024-25 Budget
PkRevenue.com — Pakistan is poised to present its federal budget for the fiscal year 2024-25 today, with an estimated outlay exceeding Rs 18 trillion.
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Red Sea Disruption Threatens Pakistan’s Economy
PkRevenue.com — The recent disruption in the Red Sea, a crucial maritime trade route, poses severe consequences for Pakistan’s trade and overall economy, as highlighted in the Economic Survey of Pakistan 2023-24.
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Tax to GDP Ratio Projected at 8.9% for FY24: Economic Survey
PkRevenue.com — The Economic Survey of Pakistan 2023-24 has projected a tax to GDP ratio of 8.9 percent for the upcoming fiscal year, reflecting a modest increase from the 8.5 percent recorded in FY 2023. This projection is based on the Federal Board of Revenue’s (FBR) collection performance during the outgoing fiscal year.
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Pakistan Tax Exemptions Surge 73% to Rs 3.88 Trillion in FY24
In a notable fiscal shift, the cost of tax exemptions and concessions in Pakistan surged by 73% to reach Rs 3.88 trillion during the fiscal year 2023-24, as highlighted in the Pakistan Economic Survey 2023-24 released on Tuesday.
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Consumer Loans Dip 6.1%: Pakistan Economic Survey 2023-24
PkRevenue.com – The Economic Survey of Pakistan 2023-24, released on Tuesday, reported a 6.1 percent decline in consumer loans for the outgoing fiscal year. The survey highlighted a significant net retirement of Rs 52.6 billion in consumer loans during July-March FY 2024, compared to a net retirement of Rs 21.1 billion in the same period last year.
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Fiscal Deficit at 6.5%: Pakistan Economic Survey 2023-24
PkRevenue.com – The Pakistan Economic Survey 2023-24, released on Tuesday, estimated the fiscal deficit for the outgoing fiscal year at 6.5 percent, marking a decrease from the previous year’s deficit of 7.8 percent.
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LSM in Negative: Pakistan Economic Survey 2023-24
PkRevenue.com – The Pakistan Economic Survey 2023-24, released on Tuesday, revealed that Large-Scale Manufacturing (LSM) remained in negative territory at -0.1 percent during July-March FY 2024, marking an improvement from the -7.0 percent growth recorded in the corresponding period last year.
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Agriculture Jumps 6.25%: Economic Survey of Pakistan 2023-24
PkRevenue.com – The Economic Survey for the fiscal year 2023-24, launched on Tuesday, revealed a remarkable growth of 6.25 percent in Pakistan’s agriculture sector, a significant increase from last year’s 2.27 percent.
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GDP Grows by 2.38%: Economic Survey of Pakistan 2023-24
PkRevenue.com – Pakistan launched its Economic Survey for the Fiscal Year 2023-24 on Tuesday, revealing that the country’s GDP grew by 2.38 percent. The survey highlighted resilience and steady improvement across the real, fiscal, and external sectors, as well as financial markets.
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