May 24, 2022

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Pakistan Revenue

Tag: Ministry of Finance

Tax collection to reach at Rs5.83 trillion in FY22
Aug 31
Finance

Tax collection to reach at Rs5.83 trillion in FY22

ISLAMABAD: The finance ministry has estimated that the tax collection to reach Rs5.83 trillion during current fiscal year 2021/2022 (FY22). In its monthly economic update – August 2021, the finance ministry said that in FY2021, tax revenue increased by 18.4 percent, whereas in July FY2022, tax collection climbed up by 42.5 percent, indicating a good […]

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Pakistan’s budget deficit shrinks to 7.1% in FY21
Aug 27
Finance

Pakistan’s budget deficit shrinks to 7.1% in FY21

KARACHI: Pakistan’s budget deficit for the fiscal year 2020/2021 has come down to 7.1 per cent of the GDP when compared with 8.1 per cent in the preceding fiscal year. However, the primary deficit during the period at Rs 654 billion (1.4 per cent of GDP in FY21) fares better compared to a primary deficit […]

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Finance ministry hopes achieving annual fiscal targets
Mar 1
Finance

Finance ministry hopes achieving annual fiscal targets

ISLAMABAD: The finance ministry is hopeful of achieving annual fiscal targets as half year (July – December) 2020/2021 fiscal position indicates that it will remain on track in the remaining half. The ministry of finance on Monday issued Mid-year Budget Review Report for Fiscal Year 2020/2021. The finance division said that the fiscal consolidation measures […]

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Ms. Sethi appointed as chief pay, pension commission
Oct 26
Finance

Ms. Sethi appointed as chief pay, pension commission

ISLAMABAD: The government has appointed M.s Nargis Sethi as chairperson of the pay and pension commission with immediate effect. A notification issued dated October 15, 2020 by the Finance Division stated that the Prime Minister had appointed Ms. Nargis Sethi, former federal secretary, as chairperson of the pay and pension commission with immediate effect. Abdul […]

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Tax to GDP ratio slips to 11.4 percent in FY20
Aug 16
Taxation

Tax to GDP ratio slips to 11.4 percent in FY20

ISLAMABAD: Tax to GDP ratio has slipped to 11.4 percent in fiscal year FY20 (2019/2020) when compared with 11.6 percent in the preceding fiscal year, according to statistics released by the finance ministry. The size of Gross Domestic Product (GDP) has been measured at Rs41,727 billion in fiscal year 2019/2020 as compared with Rs38,559 billion […]

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Fiscal deficit balloons to record 8.9 percent in 2018/2019
Aug 27
Finance

Fiscal deficit balloons to record 8.9 percent in 2018/2019

KARACHI: The fiscal deficit of the country has increased to record level of 8.9 percent in fiscal year 2018/2019, according to statistics released by the federal finance ministry on Tuesday. Analysts Topline Securities said that the government had reported fourth quarter of fiscal year 2018/2019 fiscal deficit of 3.9 percent of GDP, taking full year […]

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