Income tax exemptions surge by 166pc to Rs378bn

Jun 12

Taxation

Income tax exemptions surge by 166pc to Rs378bn

ISLAMABAD: Despite massive shortfall in revenue collection the Federal Board of Revenue (FBR) granted Rs378 billion as income tax exemption during current fiscal year, which is 166.2 percent higher than the last fiscal year. According to Pakistan Economic Survey 2019/2020 released on Thursday the FBR granted provisionally Rs378 billion as income tax exemption and concession […]

by Mrs. Anjum Shahnawaz

Pakistan to face greater challenges in next fiscal due to COVID

Jun 12

Finance

Pakistan to face greater challenges in next fiscal due to COVID

ISLAMABAD: Pakistan is likely to face greater challenges in the next fiscal year starting July 2020 due to COVID-19, said Economic Survey 2019/2020 released on Thursday. “After recording its first contractionary year due to the COVID crisis since 1952, Pakistan is likely to face greater challenges in the 2020/2021 starting July 2020,” according to the […]

by Mrs. Anjum Shahnawaz

SBP adopts flexible monetary policy stance on adverse impact of COVID-19

Jun 12

Money & Banking

SBP adopts flexible monetary policy stance on adverse impact of COVID-19

ISLAMABAD: The adverse impact on the economy due to COVID-19 has forced the State Bank of Pakistan (SBP) to adopt flexible monetary policy stance, according to Pakistan Economic Survey 2019/2020 released on Thursday.

by Mrs. Anjum Shahnawaz

Zero-rating elimination provides impetus to FBR collection

Jun 12

Taxation

Zero-rating elimination provides impetus to FBR collection

ISLAMABAD: Elimination of zero-rating regime on five export oriented sectors has provided impetus to tax collection during current fiscal year, said Pakistan Economic Survey 2019/2020 issued on Thursday. The survey said that tax collection of Federal Board of Revenue (FBR) has witnessed a remarkable turnaround during the current fiscal year after posting negative growth of […]

by Mrs. Anjum Shahnawaz

LSM may fall massively on constrained economic environment

Jun 11

Finance

LSM may fall massively on constrained economic environment

ISLAMABAD: The production of large scale manufacturing (LSM) may fall massively during the current fiscal year as it already registered a decline of 5.4 percent during July – March 2019/2020. The LSM sector declined by 5.4 percent during July-March FY2020 as compared to 2.34 percent decline during the same period last year, according to the […]

by Mrs. Anjum Shahnawaz

Agriculture sector grows by 2.67pc despite lower production of cotton, sugarcane

Jun 11

Finance

Agriculture sector grows by 2.67pc despite lower production of cotton, sugarcane

ISLAMABAD: The agriculture sector provisionally grew by 2.67 percent in 2019/2020 despite fall in production of cotton and sugarcane, revealed by Economic Survey 2019/2020 released on Thursday.

by Mrs. Anjum Shahnawaz

Outlook is not promising: Economic Survey 2019/2020

Jun 11

Finance

Outlook is not promising: Economic Survey 2019/2020

ISLAMABAD: The economic outlook is not very clear as well as doesn’t seem promising as COVID may dampen exports demand besides expectations of capital flight, according to the Pakistan Economic Survey 2019/2020 released on Thursday. It said that as economies reopen with expectations that the adverse impact of COVID-19 is bottoming out, there is an […]

by Mrs. Anjum Shahnawaz

Economic Survey: GDP growth projected at negative 0.38 percent

Jun 11

Finance

Economic Survey: GDP growth projected at negative 0.38 percent

ISLAMABAD: The GDP growth for current fiscal year has been estimated negative 0.38 percent, according to Pakistan Economic Survey for 2019/2020 released on Thursday. The survey stated that although, provisional GDP growth rate for FY2020 is estimated at negative 0.38 percent, however, macroeconomic stabilization measures undertaken by the government over the past year resulted in […]

by Mrs. Anjum Shahnawaz