Pakistan Revenue
ISLAMABAD: The budget deficit has ballooned to 1.1 percent of the GDP for the first quarter (July – September) 2020/2021 as compared with the deficit of 0.7 percent in the corresponding quarter of the last fiscal year, according to fiscal statistics released by the finance ministry on Wednesday. The size of GDP has been estimated […]
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ISLAMABAD: The government on Saturday announced reduction in prices of petrol and High Speed Diesel (HSD) effective from November 01, 2020.
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ISLAMABAD: The ministry of finance has said that economic growth is showing persistent recovery but the inflation is one of the main challenges. According to monthly economic update issued on Tuesday, the finance ministry said that economic growth is showing persistent recovery in first quarter (July – September) 2020/2021. In absence of any adverse future […]
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ISLAMABAD: The ministry of finance on Tuesday announced 12 percent mark-up rate on State Provident Fund i.e. General Provident Fund (GP Fund) for fiscal year 2019/2020. The mark-up rate has been reduced to 12 percent for fiscal year 2019/2020 as against 14.35 percent for the fiscal year 2018/2019. The mark-up rate for GP Fund for […]
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KARACHI: Pakistan’s budget deficit narrowed to 8.1 percent in FY20 (2019/2020) as compared with the deficit of 8.9 percent in the preceding fiscal year, according to statistics released by the ministry of finance on Wednesday. Analysts Topline Securities said that as the deficit is lower than the 9.1 percent of GDP envisaged by the government […]
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ISLAMABAD: The ministry of finance has notified Cash Management and Treasury Single Account Rules, 2020 under which treasury single account system has been explained. According to the rules the Treasury Single Account system shall be: (1) Federal Consolidated Fund Account, Public Account, assignment accounts, their sub-accounts and linked accounts as approved by the Finance Division, […]
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ISLAMABAD: The ministry of finance on Thursday extended the last date to exchange bearer prize bonds of Rs40,000 denomination up to December 30, 2020. The last date to exchange the bearer prize bonds was expired on June 30, 2020. The government on June 24, 2019 announced to discontinue the circulation of Rs40,000 denomination national prize […]
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ISLAMABAD: The collection of motor vehicle tax has registered 15 percent decline during first nine months of current fiscal year, according to data released by the ministry of finance. According to fiscal operation for first nine months issued by the finance ministry showed that the provinces had collected Rs16.73 billion during July – March 2019/2020 […]
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ISLAMABAD: Coronavirus led impacts are expected to deeply distort economic fabric of Pakistan, said Dr. Abdul Hafeez Shaikh, Advisor to the Prime Minister on Finance and Revenue.
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ISLAMABAD: The federal government has constituted a pay and pension commission to review existing salary and perks. According to the finance ministry, the government of Pakistan had constituted a Pay and Pension Commission, with effect from 14-04-2020. The Composition of the Commission shall be as follows: Mr. Wajid Rana, Former Federal Secretary, Chairman. Mr. Nazar […]
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