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Find top stories in this section. Pakistan Revenue brings you the latest and most important news from Pakistan and around the world, keeping you informed with key updates and insights.

FBR announces tax exemptions for flood relief operation

ISLAMABAD: Federal Board of Revenue (FBR) on Tuesday announced major tax exemptions for flood relief operation.

The FBR issued SRO 1634(I)/2022 dated August 30, 2022 to allow the tax exemption.

In order to enable the exemption, the FBR amended Second Schedule of the Income Tax Ordinance, 2001. It is pertinent to mention that tax is levied on imported goods under Section 148 of the Ordinance.

According to the amendment: “(123) The provision of Section 148 shall for a period of ninety days not apply to goods required and imported for relief operation for flood affectees, duly certified by the National Disaster Management Authority (NDMA) or the Provincial Disaster Management Authority (PDMA).”

The FBR issued another SRO 1635(I)/2022 dated August 30, 2022 to allow exemption from sales tax on goods imported for flood relief operation.

Sales tax exemption has been granted with effect from August 24, 2022 subject to the conditions and restrictions.

According to the FBR, import of all goods received, in the event of a natural disaster or other catastrophe, as gift and relief consignments or any goods received as gift or donation from a foreign government or organization by the federal or provincial governments or any public sector organization.

However, this exemption is subject to the same conditions as are envisaged for the purpose of apply zero-rate of customs duty under the Customs Act, 1969.

Through SRO 1636(I)/2022 dated August 30, 2022, which stated that the federal government has exempted for a period of ninety days the import and supply of the goods as certified by the NDMA or PDMA for relief operation for flood affectees, from the whole of the sales tax.

Similarly, SRO 1637(I)/2022 dated August 30, 2022 has been issued to exempt federal excise duty leviable on the goods as ceritifed by NDMA or PDMA for relief operation for flood affectees.

August 31, 2022
IMF board allows $1.1 billion disbursement for Pakistan

Washington, DC: Pakistan will get around $1.1 billion from the International Monetary Fund (IMF) after its executive board on Monday allowed immediate disbursement.

The Executive Board of the International Monetary Fund (IMF) completed today the combined seventh and eighth reviews of the Extended Arrangement under the Extended Fund Facility (EFF) for Pakistan. The Board’s decision allows for an immediate disbursement of SDR 894 million (about $1.1 billion), bringing total purchases for budget support under the arrangement to about $3.9 billion.

READ MORE: Pakistan may face food security due to flash floods

The EFF was approved by the Executive Board on July 3, 2019 for SDR 4,268 million (about $6 billion at the time of approval, or 210 percent of quota). In order to support program implementation and meet the higher financing needs in FY23, as well as catalyze additional financing, the IMF Board approved an extension of the EFF until end-June 2023, rephasing and augmentation of access by SDR 720 million that will bring the total access under the EFF to about $6.5 billion.

Pakistan is at a challenging economic juncture. A difficult external environment combined with procyclical domestic policies fueled domestic demand to unsustainable levels. The resultant economic overheating led to large fiscal and external deficits in FY22, contributed to rising inflation, and eroded reserve buffers. The program seeks to address domestic and external imbalances, and ensure fiscal discipline and debt sustainability while protecting social spending, safeguarding monetary and financial stability, and maintaining a market-determined exchange rate and rebuilding external buffers.

The Executive Board also approved today the authorities’ request for waivers of nonobservance of performance criteria.

READ MORE: SBP issues IBAN list for donations to PM flood relief fund

Following the Executive Board’s discussion on Pakistan, Ms. Antoinette Sayeh, Deputy Managing Director and Acting Chair, issued the following statement:

“Pakistan’s economy has been buffeted by adverse external conditions, due to spillovers from the war in Ukraine, and domestic challenges, including from accommodative policies that resulted in uneven and unbalanced growth. Steadfast implementation of corrective policies and reforms remain essential to regain macroeconomic stability, address imbalances and lay the foundation for inclusive and sustainable growth.

“The authorities’ plan to achieve a small primary surplus in FY2023 is a welcome step to reduce fiscal and external pressures and build confidence. Containing current spending and mobilizing tax revenues are critical to create space for much-needed social protection and strengthen public debt sustainability. Efforts to strengthen the viability of the energy sector and reduce unsustainable losses, including by adhering to the scheduled increases in fuel levies and energy tariffs, are also essential. Further efforts to reduce poverty and protect the most vulnerable by enhancing targeted transfers are important, especially in the current high-inflation environment.

READ MORE: Flash floods affect internet services in Pakistan

“The tightening of monetary conditions through higher policy rates was a necessary step to contain inflation. Going forward, continued tight monetary policy would help to reduce inflation and help address external imbalances. Maintaining proactive and data-driven monetary policy would support these objectives. At the same time, close oversight of the banking system and decisive action to address undercapitalized financial institutions would help to support financial stability. Preserving a market-determined exchange rate remains crucial to absorb external shocks, maintain competitiveness, and rebuild international reserves.

“Accelerating structural reforms to strengthen governance, including of state-owned enterprises, and improve the business environment would support sustainable growth. Reforms that create a fair-and-level playing field for business, investment, and trade necessary for job creation and the development of a strong private sector are essential.”

August 30, 2022
FBR gets 3.38 million active taxpayers by August 28, 2022

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a list of 3.38 million taxpayers on Monday through weekly updated Active Taxpayers List (ATL).

According to the latest ATL 3,376,699 taxpayers had filed their income tax returns by August 28, 2022 for tax year 2021.

READ MORE: Tax rates on mobile phone, internet users during 2022-2023

The ATL will also include names of those taxpayers who will file their income tax returns for the tax year 2021 in coming days till the ATL remained applicable.

The FBR issues ATL weekly basis on Monday to update the names of persons who filed their income tax returns during the week.

ATL provides taxpayers to get concession in payment of lower withholding tax rates or amount. The FBR issues ATL for the new tax year on the first day of March every year. Therefore, the existing ATL will prevail till February 28, 2023.

READ MORE: FBR launches campaign to ensure return filing by due date

According to the FBR the ATL is a central record of online Income Tax Return filers for the previous Tax Year.

It further says that ATL is published every financial year on the 1st March and is valid up to the last day of February of the next financial year. For example, Active Taxpayer List for Tax year 2020 was published on 1st March 2021 and will be valid till 28th February 2022. Similarly, Active Taxpayer List for Tax year 2021 will be published on 1st March 2022 and will be valid till 28th February 2023.

The ATL is updated on every Monday on the Federal Board of Revenue (FBR) website.

The FBR said that a person’s name will be part of the current ATL, if the Tax Return filed pertains to the Tax year of the relevant ATL. For example, to be part of the ATL published on 1st March 2021, a person must have filed a Tax return for the Tax year 2020. Similarly, to be a part of the ATL published on 1st March 2022, a person must have filed a Tax Return for the Tax year 2021.

READ MORE: FBR promotes 56 Inland Revenue Officers to BS-17

Restriction on including a person’s name on ATL, if the person has not filed Tax Return by the due date specified by Income Tax authorities was introduced through Finance Act, 2018. For example, to be part of the ATL published on 1st March 2022, a person must file a Tax Return by the specified due date for the Tax year 2021.

However, through Finance Act, 2019 a person’s name can be part of ATL, even if the person has filed Tax Return after the due date specified by Income Tax authorities.

Furthermore, a surcharge for placement on ATL after due date of filing of Tax Return will be charged as under:

Company: Rs20,000

Association of Persons: Rs10,000

Individuals: Rs1,000

A company or an AOP shall be included in the ATL, whose return is not to be filed due to incorporation or formation after 30th day of June relevant to the Tax year pertaining to the ATL.

READ MORE: FBR transfers six IRS officers of BS-19-20

Joint account holders as an entity shall be deemed to be part of ATL if any of the persons in the joint account have met the criteria of being included in the ATL.

Bank account held in the name of a minor shall be considered part of ATL if the parents, guardians of the minor or any person who has deposited money in minor’s account are deemed to have met the criteria of being included in the ATL.

August 30, 2022
Tax rates on mobile phone, internet users during 2022-2023

KARACHI: The Federal Board of Revenue (FBR) has issued amended income tax law to notify the tax rates on users of mobile phones and internet during 2022-2023.

FBR issued Income Tax Ordinance, 2001 updated up to June 30, 2022 incorporating changes made through the Finance Act, 2022.

READ MORE: FBR launches campaign to ensure return filing by due date

The revenue body collects these taxes under Section 236 of the Income Tax Ordinance, 2001.

Under this section, in the case of telephone subscriber (other than mobile phone subscriber) where the amount of monthly bill exceeds Rs1,000, then the tax rate shall be 10 per cent of the exceeding amount of bill.

Similarly, in the case of subscriber of internet, mobile telephone and pre-paid internet or telephone card, the tax rate shall be 15 per cent of the amount of bill or sales price of internet pre-paid card or pre-paid telephone card or sale of units through any electronic medium or whatever form.

READ MORE: FBR promotes 56 Inland Revenue Officers to BS-17

According to the Section 236: Telephone and internet users.- (1) Advance tax at the rates specified in Division V Part IV of the First Schedule shall be collected on the amount of –

(a) telephone bill of a subscriber;

(b) prepaid cards for telephones;

(c) sale of units through any electronic medium or whatever form; and

(d) internet bill of a subscriber; and

(e) prepaid cards for internet.

(2) The person preparing the telephone or internet bill shall charge advance tax under sub-section (1) in the manner telephone or internet charges are charged.

READ MORE: FBR transfers six IRS officers of BS-19-20

(3) The person issuing or selling prepaid cards for telephones or internet shall collect advance tax under sub-section (1) from the purchasers at the time of issuance or sale of cards.

(3A) The person issuing or selling units through any electronic medium or whatever form shall collect advance tax under sub-section (1) from the purchaser at the time of issuance of sale of units.

(4) Advance tax under this section shall not be collected from Government, a foreign diplomat, a diplomatic mission in Pakistan, or a person who produces a certificate from the Commissioner that his income during the tax year is exempt from tax.

READ MORE: FBR issues paper return form for tax year 2022

August 29, 2022
Pakistan may face food security due to flash floods

ISLAMABAD: The flash floods in Pakistan may create a situation of food security in coming days as rice, banana, onion and other agriculture produces have been badly affected.

Minister for Planning, Development, and Special Initiatives Ahsan Iqbal Monday said that the recent floods and torrential rains have also damaged 40-50 percent cotton crop across the country.

He said Pakistan is witnessing more devastation than that caused by the flood in 2010.

READ MORE: SBP issues IBAN list for donations to PM flood relief fund

The minister informed that 0.9 million livestock and one million houses have been washed away in the recent floods while over 1000 people lost their lives.

The Minister made these remarks while speaking at the event titled, “an overview and findings of the Rural Poor Stimulus Facility (RPSF) – Waseel-e-Khurak, pilot project” that was organized by the Scaling Up Nutrition (SUN) in collaboration with Ministry of Planning Development & Special Initiatives.

In 2013, he said when the PML-N government took the charge, the country had already faced devastated floods in 2010 and it launched the fourth phase of Pakistan flood protection programme to minimize the impacts of such floods.

“In May 2017, we got approved the Programme from Council of Common Interest duly signed by all the provinces and it was agreed that new infrastructure would be built under the programme”, he added.

He said it was also agreed that Rs 177 billion would be spent under the Programme and the provinces would contribute half of the amount.

READ MORE: Flash floods affect internet services in Pakistan

However, he said despite completing the final roadmap to spend Rs 177 billion under the programme, the next PTI government dumped this programme in the cold storage and not a single rupee was spent on this programme.

Had we spent Rs 177 billion under the programme, the loss would be far less than what we are facing now, he added.
Ahsan Iqbal said a big challenge is ahead as the 30 million people have been affected and the government have to help them standing on their feet.

He expressed his resolve that under the leadership of Prime Minister Shehbaz Sharif, the government would complete the rehabilitation process of the flood hit areas.

August 29, 2022
Dollar strengthens to PKR 221.92 amid political uncertainty

KARACHI: The US dollar strengthened against Pakistan Rupee (PKR) to Rs221.92 on Monday as political uncertainty mounted ahead of IMF board approval.

The exchange recorded a decline of Rs1.26 to end at Rs221.92 to the dollar from last Friday’s closing of Rs220.60 in the interbank foreign exchange market.

READ MORE: Dollar surges to PKR 220.66 ahead IMF board meeting

The IMF board meeting is scheduled today August 29, 2022 which will discuss and likely to approve tranche for Pakistan under Extended Fund Facility (EFF).

The currency market witnessed uncertainty after alleged audio tape was leaked. The audio tape recorded discussions of former finance minister Shaukat Tarin and present finance ministers of Khyber Pakhtunkhwa and Punjab.

The rupee recorded an all-time low against dollar at Rs239.94 on July 28, 2022.

The currency market witnessed a non-stop depreciation in rupee value since the government lifted the ban on import of luxury and non-essential items. Besides, the prices of international oil are also seeing a rising trend.

READ MORE: Pakistani Rupee falls for 4th day; dollar climbs up to Rs219.14

The government on August 20, 2022 withdrew the ban on import of luxury and non-essential items. The government on May 19, 2022 imposed this ban in the wake of massive depreciation in rupee value and significant depletion of foreign exchange reserves.

The rupee witnessed a continuous decline against the dollar since the government lifted the ban. The local currency depreciated continuously during the week (August 22 – August 26) and fell Rs6.01 or 2.8 per cent during the period.

The currency experts said that the vertical decline in foreign exchange reserves also put pressure on rupee value.

Pakistan’s foreign exchange reserves fell by $91 million to $13.522 billion by the week ended August 19, 2022. The foreign exchange reserves of the country were at $13.613 billion a week ago i.e. August 12, 2022.

READ MORE: Dollar gains for third day, ends at PKR 218.38

The country’s foreign exchange reserves hit an all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $13.703 billion.

The official foreign exchange reserves of the State Bank witnessed a decline of $87 million to $7.81 billion by the week ended August 19, 2022 as against $7.897 billion a week ago.

The foreign exchange reserves held by the central bank witnessed a record high at $20.146 billion by the week ended August 27, 2021. Since then the official reserves of the SBP declined by $12.336 billion.

READ MORE: Dollar climbs up to PKR 217.66 at interbank closing

August 29, 2022
FBR launches campaign to ensure return filing by due date

KARACHI: The Federal Board of Revenue (FBR) has launched a campaign to ensure the taxpayers file their annual return of income for tax year 2022 by due date.

The FBR sent emails to registered taxpayers to comply with the mandatory requirement under Income Tax Ordinance, 2001.

“As a responsible citizen, you need to make sure that you file your Income Tax Return every year. This is a moral duty of every Pakistani, FBR prompts you to file your Income Tax Return for Tax Year 2022 today,” according to an email sent to a taxpayer.

READ MORE: FBR promotes 56 Inland Revenue Officers to BS-17

“Filing one’s Income Tax Return is mandatory legal obligation that we must endeavor in order to serve our country better. Let’s join hands for a prosperous and self-reliant Pakistan,” the FBR added.

The FBR reminded the taxpayer that the last date for filing Income Tax Returns for Tax Year 2022 is September 30, 2022.

According to the Income Tax Ordinance, 2001, the taxpayers included salaried persons, business individuals, association of persons (AOPs) and companies other than having account year July to June are required to file the return of income.

READ MORE: FBR transfers six IRS officers of BS-19-20

The corporate entities having financial year July 01 to June 30 are required to file their income tax returns by December 31 every year.

The FBR through SRO 978(I)/2022 dated June 30, 2022 issued income tax return form for tax year 2022 giving statutory time to taxpayers for making compliance in filing of return.

Section 14 of Income Tax Ordinance, 2001, highlighted the categories of taxpayers, who are required to file their annual return of income and wealth statement.

According to Income Tax Ordinance, 2001, class of taxpayers are required to file return of income: — every company;— every person (other than a company) whose taxable income for the year exceeds the maximum amount that is not chargeable to tax under this Ordinance for the year; — any non-profit organization as defined in clause (36) of section 2; — every person whose income for the year is subject to final taxation under any provision of this Ordinance; -Any person not covered by above clauses are also required to file return of income who,—

READ MORE: FBR issues paper return form for tax year 2022

(i) has been charged to tax in respect of any of the two preceding tax years;

(ii) claims a loss carried forward under this Ordinance for a tax year;

(iii) owns immovable property with a land area of five hundred square yards or more or owns any flat located in areas falling within the municipal limits existing immediately before the commencement of Local Government laws in the provinces; or areas in a Cantonment; or the Islamabad Capital Territory;

(iv) owns immoveable property with a land area of five hundred square yards or more located in a rating area;

(v) owns a flat having covered area of two thousand square feet or more located in a rating area;

(vi) owns a motor vehicle having engine capacity above 1000 CC;

(vii) has obtained National Tax Number; or

(viii) is the holder of commercial or industrial connection of electricity where the amount of annual bill exceeds rupees five hundred thousand;

READ MORE: FBR sets up new section for dealing disciplinary cases

(ix) is a resident person registered with any chamber of commerce and industry or any trade or business association or any market committee or any professional body including Pakistan Engineering Council, Pakistan Medical and Dental Council, Pakistan Bar Council or any Provincial Bar Council, Institute of Chartered Accountants of Pakistan or Institute of Cost and Management Accountants of Pakistan; or

(x) is a resident person being an individual required to file foreign income and assets statement under section 116A.

August 28, 2022
PM Shehbaz announces Rs10 bn grant for Balochistan victims

JAFFARABAD: The Prime Minister of Pakistan, Muhammad Shehbaz Sharif, Sunday announced a grant of Rs10 billion for the people of Balochistan province to cope with the situation and assist the flood victims.

During his visit to flood affected areas including Haji Allah Dino village, the prime minister said that he had never witnessed in his lifetime such massive destruction wrecked by unprecedented floods and rainfalls across the country.

READ MORE: Pakistan fixes amount of diyat for 2022/2023

He said the impacts of natural calamities could not be overcome with mere raising of slogans, making of statements and hurling of allegations.

The prime minister stressed that they would have to work hard, and shed sweat and blood to overcome the flood situation in the country, adding that different countries had devised technical mechanisms by making investments to overcome the natural catastrophes.

Shehbaz regretted that false statements by certain political figures could not mislead the nation. “I will speak the truth. For the last 73 years, Pakistan could not stand on its feet,” he regretted.

The prime minister also expressed gratitude to the Presidents of the United Arab Emirates and Turkey for expressing their grief over loss of lives in Pakistan and their concerns over the distressed Pakistanis who were facing ordeals due to floods.

READ MORE: Cellular mobile operators provide free calls in Pakistan

He said that they were thankful to the friendly countries who were extending flood relief and assistance to the flood victims, adding two planeloads of relief assistance from Turkey would land in Karachi while another from the UAE would arrive Islamabad.

“We are grateful to the friendly countries for their support and solidarity. The UK government and other countries have announced their support in this hour of distress for which we express our thankfulness,” he added.

The prime minister also appealed to the wealthy people of the country to support the millions affected people with their generous donations who had been in dire need of immediate relief and assistance.

He said in the past, the people had supported the calamity hit populace, adding that they were receiving donations in the PM Relief Fund, and cited a donation of worth Rs45 million by a group while another significant contribution by an individual.

Acting Governor Balochistan Mir Jan Muhammad Jamali, Chief Minister Abdul Quddus Bizenjo and Chief Secretary Abdul Aziz Aqeeli, NDMA and PDMA authorities were also accompanied the prime minister.

The prime minister said during his aerial view, he had witnessed huge chunks of land inundated by the flood water including Kachi, and Sobatpur, and likened the situation to an overflowing ocean. Flood water had submerged Rajanpur, Rahimyar Khan and Ghotki areas.

READ MORE: SBP issues IBAN list for donations to PM flood relief fund

He said during 2010, Pakistan faced a huge deluge, but it was restricted to Sindh river, but the recent devastation had been widespread, Sindh and Balochistan provinces were badly battered.

In Khyber Pakhtunkhwa, the heavy downpours had led to swollen rivers and water channels in Swat and Kalam, sweeping away hotels and homes within the winks of eyes, he said, adding hundreds of people lost their lives, crops were damaged while the stagnant water would create problems.

“In my political and personal life, I had never witnessed such widespread destruction caused by floods, as scores of villages were effaced, hundreds of lives were lost and millions of homes swept away,” he expressed his grief.

The prime minister said the federal government was providing Rs25,000 to each flood affected family out of allocated grant of Rs38 billion through the National Disaster Management Authority (NDMA) and the Benazir Income Support Programme (BISP), so that the deserving were not deprived of the assistance package.

In Sindh, he said, he had already announced a grant of Rs15 billion. The provincial chief ministers and their teams in assistance with the relevant departments had been making untiring efforts day and night, the prime minister said.

The prime minister also appreciated Balochistan chief minister and his team for the rescue and relief activities as the camps for the affectees were set up and their needs had been catered to.

READ MORE: SBP issues IBAN list for donations to PM flood relief fund

He stressed upon making of safe drinking water arrangements and informed that he had already directed the federal minister of energy to supervise restoration of suspended power supply in the affected areas.

The prime minister said about 50,000 stranded people, trapped in floods, had been rescued through the assistance provided by the Pakistan army and Navy helicopters.

He further informed that on Monday, they would be holding a meeting in Islamabad to review the situation and take further decisions.

Earlier, the prime minister was given a detailed briefing by Balochistan chief secretary who apprised that 20 districts in the provinces were badly affected including Killa Saifullah and Killa Abdullah and about 1.3 million population braced the wort situation.

He said a total of 65,000 houses were completed destroyed whereas Quetta-Sukkkur road link had been cut off due to collapse of bridges. A total of 25 small dams in the province were breached and 78 others had developed cracks.

A total of 450 solar tube wells were damaged while millions of acres of agriculture land had been affected. Cash assistance through BISP was generated besides, arrangements were made to provide food stuff to more than 1 million people, it was added.

The prime minister also met and interacted with the flood victims.

August 28, 2022
Pakistan fixes amount of diyat for 2022/2023

Pakistan has fixed the amount of diyat (compensation) at Rs4.32 million for the fiscal year 2022/2023 to be the value of thirty thousand six hundred and thirty (30,630) grams of silver.

The finance ministry issued a circular to declare the amount of diyat on August 26, 2022.

Diyat is the financial compensation paid to the victim or heirs of a victim. The compensation may be paid in the cases of murder, bodily harm or property damage.

READ MORE: Cellular mobile operators provide free calls in Pakistan

Pakistan Penal Code has defined “diyat” as the compensation specified in Section 323 payable to the heirs of the victim.

Section 323 of the Pakistan Penal Code notified the value of diyat as:

(1) The Court shall, subject to the Injunctions of Islam as laid down in the Holy Qur’an and Sunnah and keeping in view the financial position of the convict and the heirs of the victim, fix the value of diyat which shall not be less than the value of thirty thousand six hundred and thirty grams of silver.

(2) For the purpose of sub-section (1), the Federal Government shall, by notification in the official Gazette, declare the value of Silver, on the first day of July each year or on such date as it may deem fit, which shall be the value payable during a financial year.

Diyat is one of the modes of punishment under Section 53 of the Pakistan Penal Code.

READ MORE: SBP issues IBAN list for donations to PM flood relief fund

Section 53: The punishments to which offenders are liable under the provisions of this Code are:

Firstly, Qisas;

Secondly, Diyat;

Thirdly, Arsh;

Fourthly, Daman;

Fifthly, Ta’zir;

Sixthly, Death;

Seventhly, Imprisonment for life;

Eighthly, Imprisonment which is of two descriptions, namely:–

(i) Rigorous, i.e., with hard labour;

(ii) Simple;

Ninthly, Forfeiture of property;

Tenthly, Fine

Under Pakistan Penal Code where qisas is not enforceable then the offender is liable to pay diyat.

READ MORE: SBP issues IBAN list for donations to PM flood relief fund

Section 308. Punishment in qatl-i-amd not liable to qisas, etc.:

(1) Where an offender guilty of qatl-i-amd is not liable to qisas under Section 306 or the gisas is not enforceable under clause (c) of Section 307, he shall be liable to diyat:

Provided that, where the offender is minor or insane, diyat shall be payable either from his property or, by such person as may be determined by the Court:

Provided further that where at the time of committing qatl-i-amd the offender being a minor, had attained sufficient maturity of being insane, had a lucid interval, so as to be able to realize the consequences of his act, he may also be punished with imprisonment of either description for a term which may extend to twenty-five years as ta’zir.

READ MORE: SBP opens account for Balochistan Flood Relief, Rehabilitation Fund

Provided further that, where the qisas is not enforceable under clause (c) of Section 307, the offender shall be liable to diyat only if there is any wali other than offender and if there is no wali other than the offender, he shall be punished with imprisonment of either description for a term which may extend to twenty-five years as ta’zir.

(2) Notwithstanding anything contained in sub-section (i), the Court, having regard to the facts and circumstances of the case in addition to the punishment of diyat, may punish the offender with imprisonment of either description for a term which may extend to twenty-five years, as ta’zir.

August 28, 2022
Pakistan’s sensitive price inflation surges by 45%

ISLAMABAD: The inflation based on Sensitive Price Indicator (SPI) has surged by around 45 per cent by the week ended August 25, 2022, according to data released by Pakistan Bureau of Statistics (PBS) on Friday.

READ MORE: Pakistan’s sensitive price inflation surges by 37.67%

The PBS said that prices of essential items have recorded an increase of 44.58 per cent year on year for the week ended August 25, 2022.

The essential items which recorded increase in prices during the period are included: Tomatoes (178.10 per cent), Onions (155.14 per cent), Diesel (108.77 per cent), Petrol (94.53 per cent), Pulse Masoor (90.74 per cent), Cooking Oil 5 litre (70.61 per cent), Mustard Oil (67.58 per cent), Vegetable Ghee 2.5 Kg (64.71 per cent), Vegetable Ghee 1 Kg (63.93 per cent), Washing Soap (63.27 per cent), Electricity for Q1 (63.03 per cent), Chicken (55.76 per cent) and Pulse Gram (55.07 per cent), while a decrease observed in the prices of Chilies Powder (43.42 per cent), Sugar (16.90 per cent) and Gur (1.21 per cent).

READ MORE: Pakistan’s headline inflation may up 24% in July 2022

The PBS said that the SPI for the current week ended on August 25, 2022 recorded an increase of 1.83 per cent.

Increase is observed in the prices of food items, Tomatoes (43.09 per cent), Onions (41.13 per cent), Potatoes (6.32 per cent), Eggs (3.43 per cent), Garlic (2.23 per cent), Powdered Milk (1.53 per cent) and Pulse Mash (1.12 per cent), non-food items, Cigarettes (2.26 per cent) and LPG (1.95 per cent).

On the other hand, a decrease observed in the prices of Pulse Masoor (1.18 per cent), Vegetable Ghee 1Kg (1.00 per cent), Vegetable Ghee 2.5Kg (0.82 per cent), Bananas (0.61 per cent), Cooking Oil 5 litre (0.51 per cent), Sugar (0.28 per cent) and Mustard Oil (0.07 per cent).

READ MORE: Pakistan inflation crosses 33% on high petroleum prices

During the week, out of 51 items, prices of 23 (45.10 per cent) items increased, 07 (13.72 per cent) items decreased and 21 (41.18 per cent) items remained stable.

The bureau computes the SPI on a weekly basis to assess the price movements of essential commodities at a shorter interval of time so as to review the price situation in the country. SPI comprises 51 essential items collected from 50 markets in 17 cities of the country.

READ MORE: Petroleum prices in Pakistan push inflation 13-year high

August 26, 2022